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Provisional political agreement between the Council and the European Parliament about the CSRD

On 21 June, the EU Council and European Parliament reached an interim political agreement on the corporate sustainability reporting directive (CSRD).  The proposal expects to address issues in the present rules regarding disclosure of non-financial information. This comes following insufficient quality to allow it to be properly taken into account by investors, given such shortcomings

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Leading financial market participants call for stronger alignment of regulatory and standard setting efforts around sustainability disclosure

Financial market regulators should seize the opportunity to get it clear, comprehensive and comparable disclosure of sustainability-related information right by ensuring compatible standards. These are some of foundational building blocks of a well-functioning global financial system. The International Sustainability Standards Board (ISSB), in addition to the US Securities and Exchange Commission (SEC), the European Commission

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Business Leaders Call for a Common Standard on ‘Onerous ESG Frameworks’

The chief executive of one of the world’s largest consumer goods companies warned of the danger of jurisdictions setting varied, onerous ESG standards that will impede thousands of small and medium enterprises (SMEs) from sustainability reporting. This comes on the back of regulators in North America, Europe and Asia trying to tackle how to ensure companies

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The Value Reporting Foundation Publishes Updated SASB Standard for the Apparel, Accessories & Footwear Industry Ahead of Transition to the ISSB

Following a rigorous due process involving industry consultation, public comment period and approval by the SASB Standards Board, updates to the Apparel, Accessories & Footwear Standard have been published by the Value Reporting Foundation. The thinking behind is to revise and clarify two metrics and technical protocols connected to the Raw Materials Sourcing disclosure topic.

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Human rights is at the heart of corporate transparency

Growing investor-led pressure for consistent disclosure on human rights impacts The GRI Perspective, the regular series exploring topical themes in the world of sustainability reporting has concluded that Stakeholder demands are reaffirming disclosures on human rights related impacts are central to how companies demonstrate accountability. Better human rights reporting — needed now, but how? clearly highlights the

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Progress on corporate transparency in EU

GRI remains committed to alignment as draft European Sustainability Reporting Standards unveiled GRI, the world’s leading provider of standards on sustainability impacts, has welcomed the publication of the exposure drafts for the new European Sustainability Reporting Standards (ESRS). Since July 2021, GRI has been collaborating with the European Financial Reporting Advisory Group (EFRAG) to provide technical input

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Only half of banks worldwide will be ready for regulatory sustainability reporting in the next six months

Avanade, a leading Microsoft solutions provider, and Efma, a global, non-profit organization created by leading banks and insurers has written their latest report – stating that many banks are well short to meet their environmental, social and governance (ESG) goals. Depicting how banks and financial institutions are currently claiming they are under increasing regulatory pressure to

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ISSB delivers proposals that create comprehensive global baseline of sustainability disclosures

Founded at COP26, the International Sustainability Standards Board (ISSB) has launched a consultation on its initial two proposed standards to develop a full, international baseline of sustainability disclosures for capital markets. One sets out general sustainability-related disclosure requirements and the other focuses on climate-related disclosure requirements. The proposals―exposure drafts—build upon the recommendations of the Task Force on Climate-Related

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IFRS Foundation and GRI to align capital market and multi-stakeholder standards

Agreement to create an interconnected approach for sustainability disclosures The International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will be jointly worked on by the IFRS Foundation and Global Reporting Initiative (GRI). Both have announced a collaboration agreement under which they will seek to coordinate their work programmes and standard-setting activities. At COP26, both made

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EFRAG welcomes its new Sustainability Reporting Board

The EFRAG General Assembly has appointed the members of the EFRAG Sustainability Reporting Board and admitted GE as Friend of EFRAG – Sustainability Reporting. EFRAG is pleased to inform on the next steps to complete its governance reform to integrate the sustainability reporting pillar in EFRAG’s structure by the target date of the end of