Published on

Episode 139: Taking stock of sustainability reporting

Authors
Maple

2023: The Year of #ESG Standards #IFRS #SEC Key Takeaways:

  • Expect final IFRS S1 and S2 ESG standards this year.
  • EU's ESRS changes aim for better TCFD alignment and simplified reporting.
  • US SEC to introduce new rules on climate disclosures and human capital.

Further Insights

  1. Global Updates:
  • Significant progress in ESG reporting with multiple exposure drafts and consultations by IWSB, EU, and the SEC in 2022 set the groundwork for pivotal standards and regulations in 2023.
  1. EU Developments:
  • The CSRD directive will affect a broad range of companies, requiring compliance with ESRS. ESRS updates include a focus on governance, strategy, impact, and risk management.
  1. IFRS Framework:
  • IFRS S1 and S2 focus on enhancing transparency in sustainability reporting, including GHG emissions scope 1, 2, and 3, indicating a move towards standardized global reporting.
  1. US Actions:
  • The SEC's proposed rules for climate disclosure reflect a tightening of regulatory oversight on sustainability, with impending rules on climate disclosures and human capital.

Closing Thoughts: As ESG reporting evolves rapidly, staying informed and prepared is crucial for businesses. How will these developments impact your sustainability strategy in 2023 and beyond?

Discuss on Twitter • View on GitHub