Accounting

Recent sustainability and integrated reporting developments

A summary of recent developments at the CDSB, WBCSD, GRI, GSSB, IIRC, and IPSASB.

The Climate Disclosure Standards Board (CDSB) has released a fact sheet that offers guidance to the consultation paper with recommendations for effective disclosure of climate-related financial risks released by the Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB). It helps navigate the over 200 pages of the report by asking 20 questions ranging from “What materials has the TCFD issued?” to “What happens next?”. Click to access the helpful guidance on the CDSB website.

Also from the CDSB in collaboration with the World Business Council for Sustainable Development (WBCSD) is a new is an online platform of expert-verified information covering sustainability reporting requirements and resources across 30 different countries. So far, only a beta version is available. Click to check out the new Reporting Exchange website.

The Global Reporting Initiative (GRI) has released a study Shining a light on human rights: corporate human rights performance disclosure in the mining, energy and financial sectors. The study finds that the current state of reporting on human rights impacts in the mining, energy and financial sectors could be improved, but encouragingly, there are signs of progress. Please click to access the report on the GRI website.

Also from GRI is the 2017-2019 work programme of the Global Sustainability Standards Board (GSSB). The first two standards scheduled for review are GRI 303 Water and GRI 403 Occupational Health and Safety. The full work plan is available on the GRI website.

The International Integrated Reporting Council (IIRC) has released 2016 Value of Value: Board-Level Insights. The regular global survey finds that business leaders believe that investors want future perspective and that adopting integrated reporting would help deliver success to their organisations.However, the survey also suggests that executives lack the management and reporting information to understand and interpret the future drivers of their business. Please click to access the full report on the IIRC website.

The International Public Sector Accounting Standards Board (IPSASB) has released a background paper by its staff that provides information on Emissions Trading Schemes (ETSs) and other government interventions that reduce emissions of greenhouse gases, including different types of government interventions and their economic impacts. The paper also touches on accounting questions in this context. The background paper can be accessed on the IPSASB website.

http://www.iasplus.com/en/news/2016/12/sustainability-and-integrated-1