Donato Calace

The CCAQ has published its comment letter on the proposed #sustainability risk and #climate metric disclosure standards (CSDS 1 and CSDS 2). The CCAQ supports the establishment of a global baseline for sustainability reporting, and we understand that there is widespread stakeholder support for the creation and adoption of a standardized sustainability risk assessment and a climate-related metric disclosure standard. However, we believe that there are challenges with the application and implementation of these standards. Those implementing these standards could benefit from: - An extended transition period for adoption of the standard - Consideration of a phased transition period or a “safe harbour” provision for good faith estimates - Additional considerations for small to medium sized public enterprises - Practical guidance on how to apply “undue cost and effort” for small to medium sized public enterprises - Standardization for scenario analysis and quantification techniques for climate resilience - The development of verifiable sources of information for #GHG #emission metric disclosure in the Canadian market Please visit our website to read the comment letter below: https://lnkd.in/gUg2tfeq

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Great news for stakeholders and the #Africa business enterprises concerned about #interoperability of #GRI and #ISSB standards. Whether a multi-stakeholder or investor focus, aspiring entities may now begin their reporting journey towards #sustainabledevelopment

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𝐍𝐀𝐓𝐔𝐑𝐄-𝐑𝐄𝐋𝐀𝐓𝐄𝐃 𝐀𝐒𝐒𝐄𝐒𝐒𝐌𝐄𝐍𝐓 & 𝐃𝐈𝐒𝐂𝐋𝐎𝐒𝐔𝐑𝐄 The ‘𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐟𝐨𝐫 𝐍𝐚𝐭𝐮𝐫𝐞: 𝐂𝐨𝐦𝐩𝐚𝐫𝐢𝐬𝐨𝐧 𝐨𝐟 𝐍𝐚𝐭𝐮𝐫𝐞-𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤𝐬 𝐚𝐧𝐝 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬’ report compares the #nature-related issues' key assessment & #disclosure approaches such as:  ◾️ CDP disclosure system  ◾️ European Sustainability Reporting Standards (ESRS)  ◾️ Global Reporting Initiative (GRI) Standards  ◾️ International Sustainability Standards Board (ISSB) Standards  ◾️ Natural Capital Protocol  ◾️ Science Based Targets Network (SBTN) guidance  ◾️ Taskforce on Nature-related #Financial Disclosures (TNFD) framework 𝑲𝑬𝒀 𝑭𝑰𝑵𝑫𝑰𝑵𝑮𝑺 𝑭𝑹𝑶𝑴 𝑻𝑯𝑬 𝑪𝑶𝑴𝑷𝑨𝑹𝑨𝑻𝑰𝑽𝑬 𝑺𝑻𝑼𝑫𝒀  ➡️ 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 𝐨𝐟 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲: Different definitions (financial / #environmental & social materiality / ���) as well as differences in how to identify issues that are material.  ➡️ 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐟 𝐫𝐞𝐚𝐥𝐦𝐬: Primary coverage of land & freshwater, while additional methodologies & guidance are just being developed for the oceans.  ➡️ 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐟 𝐬𝐞𝐜𝐭𝐨𝐫𝐬: Application to all sectors but with varying expected level of tailoring. Guidance for sectors with high nature-related dependencies/impacts & for #finance.  ➡️ 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐟 𝐯𝐚𝐥𝐮𝐞 𝐜𝐡𝐚𝐢𝐧𝐬: Varying expected level of detail of up- & downstream disclosures as well as the scope of value chain links.  ➡️ 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: Importance of location-specific assessment & disclosure, preferably based on spatial #data.  ➡️ 𝐍𝐚𝐭𝐮𝐫𝐞-𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐢𝐦𝐩𝐚𝐜𝐭𝐬: Required assessment of how the impact drivers/pressures change the flow of #ecosystem services & stock of ecosystem assets (#biodiversity).  ➡️ 𝐍𝐚𝐭𝐮𝐫𝐞-𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐜𝐢𝐞𝐬: Increasing considerations to the connections between a firm's dependencies & impacts, the state of nature & external drivers.  ➡️ 𝐍𝐚𝐭𝐮𝐫𝐞-𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐫𝐢𝐬𝐤𝐬 & 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Differences whether only the #risk & opportunities associated with the most material effects are to be disclosed or all of them.  ➡️ 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐦𝐞𝐭𝐫𝐢𝐜𝐬: Disclosure of not only a description of the nature-related issues but metrics & performance too.  ➡️ 𝐓𝐚𝐫𝐠𝐞𝐭𝐬: Required or recommended target setting & regular progress #reporting.  ➡️ 𝐄𝐧𝐠𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐰𝐢𝐭𝐡 𝐫𝐞𝐥𝐞𝐯𝐚𝐧𝐭 𝐬𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬: Emerging detailed guidance on stakeholder engagement for assessment & disclosure. No doubt, we should be ready to embrace the continuing evolution of this field! -- Follow me on LinkedIn for a daily post about interesting reports on #sustainability: Zsuzsanna Tajti PhD, CFA, FRM, PRM, CIA, SCR 🌱 -- To download the report, click on the document’s bottom right corner 👇

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ESG - IFRS Foundation & EFRAG publish interoperability guidance: The IFRS Foundation and EFRAG have published guidance material to illustrate the high level of alignment achieved between the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards and the European Sustainability Reporting Standards (ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. Read the Guidance here: https://lnkd.in/emqGbrYq Learn all about these at our Sustainability Regulatory Report Short Course commencing on May 20th, open for booking here: https://lnkd.in/ejNrpvwS     #ESG #Sustainability #EFRAG #IFRS #ComplianceInstitute 

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📣 CSRD/ESRS/EU Tax news for SMEs 📣 The EU Platform on Sustainable Finance now shared their respons with EFRAG on SMEs simplified reporting on #EUTaxonomy eligability and #CSRD and #ESRS reporting. 🇪🇺🌍💶 It is key for midsized and small business to focus on the most prioritized aspects and to keep the reporting process as lean as possible not to get lost in the process and try to replicate the work needed by larger entities and organisations. Read carefully and tailor your journey towards compliance. Make sure to make the process value adding and use it to drive cost efficiencies, raise quality and long term resilience. Also, building new partnerships and drive innovation. Sara Bruhn Johan Sarasalo Mike Demerzhan, CPA, CIA Brady Reynolds Emelie Martinell Annie Welin Annie Sebelius ♦️ Sofia Bergkvist Pernilla Zetterström Varverud Maja Bjuggstam Sofie Gidlund Elisabeth Simon Annika Nygren Carin Forsström Monika Wannholm

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Navigating the Maze of Sustainability Standards: A Guide to ISO's Sustainability Certifications #Sustainability #ISOStandards #ESG In today's ever-evolving marketplace, consumers and investors are demanding greater transparency from businesses regarding their environmental, social, and governance (ESG) practices. To address this need, organizations are increasingly turning to ISO standards to implement robust sustainability frameworks Key ISO Standards for Sustainability #ISO14001:2015 Environmental Management Systems (EMS): The most widely used ISO standard for sustainability, ISO 14001:2015 establishes a framework for organizations to develop a systematic approach to managing their environmental impacts #ISO14007 & #ISO14008: Determining Environmental Costs & Benefits: These standards offer guidance on identifying and documenting both monetary and non-monetary costs and benefits associated with an organization's environmental footprint #ISO14064:2018 Greenhouse Gas (GHG) and Organizations Quantification and Reporting: This standard helps organizations quantify and report their greenhouse gas emissions and removals. This information is crucial for organizations to track their progress in reducing their climate impact #ISO26000: Guidance on Social Responsibility: While not certifiable, ISO 26000 provides a framework for integrating social responsibility practices into operations. This is a key consideration for organizations looking to strengthen their ESG performance #ISO20400:2017 - Sustainable Procurement: This standard helps organizations integrate sustainability considerations into their procurement processes. This includes considering the environmental and social impacts of products throughout their life cycle #ISO37001:2016 - Anti-Bribery Management Systems: This standard helps organizations establish and maintain an anti-bribery management system. This can help organizations reduce the risk of corruption and bribery in their operations #ISO37301: Compliance Management Systems: This standard helps organizations manage ESG-related risks by establishing a strong compliance system #ISO27001:2013 Information Security Management Systems (ISMS): This standard helps organizations protect their information assets from unauthorized access, use, disclosure, disruption, modification, or destruction While the standards mentioned above address various sustainability aspects, it's important to note that ISO/WD 53001 is currently under development. This standard aims to provide a comprehensive management system for organizations to contribute to the UN Sustainable Development Goals (SDGs), encompassing all aspects of ESG In conclusion, ISO standards provide a valuable framework for organizations to navigate the complexities of sustainability. By implementing these standards, organizations can demonstrate their commitment to ESG best practices, improve their environmental performance, and gain a competitive advantage in the marketplace

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🌱 The International Sustainability Standards Board (ISSB) has launched the IFRS Sustainability Disclosure Taxonomy, promising enhanced clarity and efficiency in sustainability reporting. 👉 Companies can use the new International Sustainability Standards Board (ISSB) Taxonomy to ensure that their disclosures are available for digital analysis. 👉 Data providers, investors, and regulators will then be able to efficiently search, extract, and compare sustainability-related financial information. 🎯 The ISSB Chair, Emmanuel Faber, emphasised the pivotal role of the ISSB Taxonomy in enhancing market transparency and facilitating digital processing of sustainability-related financial disclosures. Stay tuned for insights in an upcoming webcast by the IFRS Foundation. Read more: https://zurl.co/1A4e #Sustainability #IFRS #Taxonomy #ESG #Reporting

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👥 The Network for Greening the Financial System (NGFS) is publishing today a revised Guide on climate-related disclosure for central banks. In this report, the NGFS ✔ Provides baseline and building block disclosure recommendations to cater both central banks that are new to climate-related disclosures as well as central banks at more advanced disclosure levels; ✔ Includes a new chapter on metrics and targets, profiting from internal work on sustainable and responsible investment; ✔ Operationalizes for central banks the recommendations of the Task Force on Climate-Related Financial Disclosures; ✔ Delivers on its commitment to build on experience gathered by NGFS members.   📢 Want to learn more? Find the report here : https://lnkd.in/eAbszj-N

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IFRS Foundation and EFRAG Publish Interoperability Guidance to Align International Sustainability Standards Board (ISSB) and ESRS Standards Mairead McGuinness Patrick de Cambourg Chiara Del Prete Emmanuel Faber Sue Lloyd #Sustainability #Standards #Reporting #Disclosures

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Interoperability ACHIEVED (on climate) between International Sustainability Standards Board (ISSB) and EFRAG. Huge thanks to both teams for the willingness to converge. And great news for EU and non-EU preparers and users to avoid double reporting work in the EU for incoming firms and outside the EU in all jurisdictions endorsing ISSB standards. Now, ISSB needs to expand its standards toward nature and social, to broaden interoperability to the whole ESG scope.

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The #IFRS Foundation and #EFRAG published interoperability guidance. “The guidance illustrates [..] the high level of alignment achieved between the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards (ISSB Standards) and the European Sustainability Reporting Standards (#ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures”. EFRAG International Sustainability Standards Board (ISSB) S&P Global Market Intelligence S&P Global Sustainable1

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A helpful read for anyone feeling overwhelmed by the myriad of sustainability jargon and standards, just like I am! #sustainability #sustaiabilitymetrics #sustainabilityreporting

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There have been a fair bit of significant developments recently relevant to disclosure ⏬️ Specifically when GRI and GHG Protocol are complementary to IFRS standards by International Sustainability Standards Board (ISSB) ➡️ Global Reporting Initiative (GRI) is developing a comprehensive taxonomy for its Standards, based on XBRL, a standardised format for organising and exchanging business information. This enhances access to impact-related sustainability data and helps reduce compliance costs. https://lnkd.in/gkdKFkvV There is a call for consultation on the 10th of July which you can participate (link https://lnkd.in/gF3JWJ_G) ➡️ Greenhouse Gas Protocol (GHG Protocol) has a suite of consultative engagement across all Corporate Standard, Scope 2 Guidance, Scope 3 Standard, Market based Accounting Approaches; with very detailed and transparent survey and proposal summaries to dive in. https://lnkd.in/gVbp5Zk5. My previous comments here https://lnkd.in/giy5ECiB ➡️ CDP rolled out a new multi-environmental issue format for the CDP full corporate questionnaire, combining all three existing questionnaires across climate change, forests, and water security into one questionnaire. Info https://lnkd.in/gbM3j_W2 All of the above which leads to the question... does any "Sustainability Professional" here feel that disclosure is becoming a full time role itself? while influencing business units to respond meaningfully is yet an additional task.

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The IFRS Foundation and EFRAG have released guidance material showcasing the remarkable alignment between the International Sustainability Standards Board (ISSB)'s IFRS Sustainability Disclosure Standards and the European Sustainability Reporting Standards (ESRS). This comprehensive document offers detailed insights into how companies can effectively implement both sets of standards, particularly in climate-related disclosures, aiming to streamline processes and enhance transparency globally. By leveraging this guidance, companies can streamline data collection, governance, and decision-making, ultimately fostering greater transparency, comparability, and accountability in sustainability reporting. (ref: https://lnkd.in/gtm9h-Uj) #IFRSFoundation #EFRAG #SustainabilityStandards #ISSB #ESRS #ClimateDisclosure #Transparency #Comparability #Accountability #SustainabilityReporting #GuidanceMaterial

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Will the IFRS Sustainability and GRI collaboration resolve the confusion in sustainability reporting? As a participant in international standards, I have noted the confusion from existence of multiple sustainability frameworks. This article highlights the differences between IFRS Sustainability Standards and GRI, explore the merits and demerits of adoption each, and the benefits of collaboration between the two. The Differences IFRS Sustainability Standards and GRI share a common goal – to promote transparency and accountability in sustainability reporting. However, they differ in their approach, scope, and focus. - IFRS Sustainability Standards are designed to meet the needs of investors, lenders, and other creditors, providing a framework for companies to disclose sustainability-related financial information. - GRI, on the other hand, takes a broader stakeholder approach, covering a wide range of sustainability topics, including social and environmental impacts. Advantages and Disadvantages of Adoption Adopting IFRS Sustainability Standards offers advantages such as: - Streamlined disclosure process for companies - Consistent, complete, and comparable information for investors - High-quality and decision-useful information However, it also presents challenges like: - Companies may need to provide different and more detailed information depending on the frameworks applicable to them - Difficulties in comparisons between companies and decision-making GRI adoption offers advantages like: - Wider stakeholder focus - Comprehensive framework covering various sustainability topics But also has disadvantages like: - More complex and detailed framework - May not be suitable for investor-focused reporting Collaboration between GRI and IFRS Foundation Recognizing the need for consistency and comparability in sustainability reporting, the GRI and IFRS Foundation have embarked on a collaborative journey. The aim is to create a comprehensive and harmonized reporting framework that meets the needs of multiple stakeholders. - The collaboration will focus on developing a shared vocabulary and common metrics - Aligning the two frameworks to reduce reporting burdens and improve comparability - Enhancing the overall quality and decision-usefulness of sustainability reports As the sustainability reporting landscape continues to evolve, it is crucial for businesses to understand the differences between IFRS Sustainability Standards and GRI. By recognizing the advantages and disadvantages of each framework, companies can make informed decisions about their reporting approach. The collaboration between Global Reporting Initiative (GRI) and IFRS Foundation marks a significant step towards harmonization and consistency, ultimately benefiting businesses, investors, and stakeholders alike. As we move forward, it is essential to continue the conversation, driving progress toward a more transparent and sustainable future.

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Erasure and blindspots in stereo what do you get when the financial materiality folks combine effort with the monetization of Nature crowd. Even mainstream finance and economics are doing better than these “sustainability” coalitions with a number of critiques of neoliberal economics and books on inequality doing the rounds. There is no philosophy of change or paradigm shift in this work. It is not even sustainability light - any remaining pretence is now gone. Global North Dominance Watch Make Justice Normal Green Economy Coalition Post Growth Institute

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