The harmonised global sustainability reporting framework offers comprehensive “running start” in standardised disclosure.
Leaders from five sustainability reporting standards-setting bodies, colloquially known as the ‘group of five’, have encouraged companies to begin producing climate-related financial disclosures in line with their sustainability standards prototype, published late last year.
The group of five consists of CDP, Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI), International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB). The prototype is the first attempt by the five organisations to combine their existing standards frameworks to build a universal system for reporting the impact of sustainability factors on enterprise value.
“We’ve put forward what we consider to be the best and fastest path to a comprehensive reporting system that addresses both enterprise value and sustainability-related risk,” said Janine Guillot, CEO of SASB, in a webinar hosted by Impact Management Project (IMP) on 12 January.
CDSB Managing Director Mardi McBrien further noted that industry needs to “keep up the momentum” around sustainability reporting initiatives that built towards the end of last year, including … [continues]
Read the full article on Regulation Asia’s sister publication, ESG Investor.