Bernard Lebelle

If we think back to 2020, we were mired in an “alphabet soup” of reporting frameworks. The common refrain from companies and investors was that we needed harmonization. The IFRS Foundation and its International Sustainability Standards Board (ISSB) have done monumental work in service of that goal as reflected in the report issued today. #corporatereporting #financialreporting #sustainability https://lnkd.in/epGkbDXr

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Many of my North American corporate clients have been exploring how they can enhance their materiality assessments to better meet stakeholders' demands for improved sustainability disclosures, including investors and customers that are subject to #EU #Taxonomy and #CSRD and #ESG raters and disclosure frameworks (CDP EcoVadis UN Global Compact Network USA CoP). An excellent approach is to combine IFRS Foundation Sustainability Disclosure Standards (S1-S2, SASB) and Global Reporting Initiative (GRI) Standards to conduct a double (impact and financial) materiality assessment. I'm excited to speak with Matthew Rusk and Tim Siegenbeek van Heukelom next about challenges and best practices for this approach to #DMA. Please join the webinar if you are interested.

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Global Progress on Climate Disclosures: Spotlight on the ISSB Standard The ISSB standard is setting the stage for globally consistent climate-related disclosures, focusing on crucial Scope 3 emissions reporting. With alignment to frameworks like the GHG Protocol and TCFD, this standard is making corporate climate data more transparent and actionable for investors. As COP29 continues in Baku, discussions emphasize the importance of unified, mandatory climate reporting to support regulatory compliance and investor confidence. Find more details here: ISSB Scope 3 Standards | Sustainability Footprint Management #Sustainability #ISSB #Scope3 #ClimateDisclosure #COP29 #SustainableFinance

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At MCC Sustainable Futures we understand nature. We continue to work with our clients to help them understand the risks and opportunities that nature can provide, and to prepare them for inevitable mandatory reporting on nature. https://lnkd.in/gnHzFRxg

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Integration of #PCAF Methodology with the #GHG Protocol The GHG Protocol serves as the global standard for measuring greenhouse gas emissions and is foundational to the PCAF framework. Specifically, PCAF aligns with the GHG Protocol Corporate Accounting and Reporting Standard, which provides the guidelines for measuring and reporting emissions across various scopes. * Scope 3 Emissions The GHG Protocol defines 15 categories of Scope 3 emissions, which include both #upstream and #downstream activities. For example: - Upstream: Purchased goods and services. - Downstream: Transport and distribution. PCAF specifically categorizes financed emissions as Scope 3, Category 15, which pertains to investment activities. This alignment received formal approval from the GHG Protocol, ensuring that PCAF's methodologies are consistent with global standards. Key Components of PCAF Methodology: 1- Attribution: Financed emissions from loans or investments are attributed to financial institutions based on their proportional shareholding in a company. This is calculated using an attribution factor: Attribution Factor= Total Share / (Total Debt + Equity) The attributed emissions are then determined by multiplying this factor by the investee's emissions. 2- Data Quality: PCAF emphasizes using high-quality data for accurate carbon accounting. Institutions are encouraged to obtain measured data directly from portfolio companies. When direct data isn’t available, estimated data based on production metrics can be used to identify emissions hotspots, ensuring broad coverage of assets to avoid blind spots. Data Quality Scoring: PCAF employs a scoring system from 1 to 5, where: - 1 indicates the highest quality data (measured and verified). - 5 reflects the lowest quality data (estimated emissions). - Scores of 4 and 5 represent lower quality estimates, while scores of 1 or 2 indicate measured emissions with verification. #SustainableFinance #ClimateAction #FinancedEmissions #GHGProtocol #CarbonAccounting #ESGInvesting #Sustainability #PCAF #DataQuality #GreenFinance #CorporateResponsibility #ClimateRisk #InvestmentStrategies #NetZero #EnvironmentalImpact

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🇪🇺 A Chapter Guide to the ESRS 🇪🇺 Hello all! I’ve been spending some time working in France and learning more about the European perspective on #sustainability and #sustainabilityreporting. Here’s a brief #ESRS Summary ✅ The first implementation guidance (IG1) explains how companies should conduct their materiality assessment and communicate on the process. It also outlines the various steps that an undertaking can follow to conduct its materiality assessment ✅ A second implementation guidance (IG2) sheds light on the treatment of companies’ value chains (materiality analysis, impact, risk and opportunity management, and the indicators and targets to be implemented) ✅ The last guidance (IG3) lists all of the ESRS datapoints in the form of an Excel spreadsheet Between January and June 2024, EFRAG has published four sets of questions and answers covering nearly a hundred implementation questions about ESRS. These FAQS deal with: ✅ Questions about the general requirements of ESRS: concepts and cross-cutting issues such as the structure of the report, minimum reporting requirements on sustainability policies and actions, transitional measures ✅ Technical issues specific to several themes: climate, pollution, biodiversity, clean workforce, value chain workers, and business conduct 🌎 #NonEU Companies and #CSRD #Reporting 🌏 I also receive a lot of daily questions on how do the EU rules affect EU companies, particularly if they have EU operations or subsidiaries. Here are some of the salient points: ✅ Group-wide, consolidated sustainability reporting will be mandatory from 2026 onwards for the 2025 financial year for large groups with an EU parent company for which consolidated financial statements must be prepared anyway and which exceed two of the following three characteristics on a group-wide, consolidated basis: (1) balance sheet total: EUR 25 million, (2) net turnover: EUR 50 million, (3) employees: 250. ✅ EU subsidiaries of non-EU parent companies are obliged to report if the CSRD thresholds are exceeded. According to this all EU subsidiaries are exempt from the reporting obligation under certain conditions, provided that the non-EU parent company voluntarily publishes a report according to the CSRD or an equivalent reporting standard. In addition, through a transitional arrangement until the beginning of 2030, the EU subsidiary with the highest turnover can also publish a consolidated sustainability report instead of the non-EU parent company, which exempts all EU subsidiaries from the individual reporting obligation. This consolidated sustainability report of the EU subsidiary with the highest turnover does not have to contain any information on the global subsidiaries of the non-EU parent company, but only on the sustainability of the EU subsidiaries in the group. They also have published #interoperabilityguidance between the International Sustainability Standards Board (ISSB) #IFRSs1 and #IFRSs2 standards (see comments)

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👉🏾 Fractal agency: From theory to practice! 👈🏾 One of the best things I read in 2024, was this paper called 'Fractal approaches to scaling transformations to sustainability' (thanks to Chris Riedy and Shuchi Vora who separately introduced me to this text around the same time in August this year) 🌳 🫶🏾 Fractal approaches shift the focus from scaling through “things” (e.g., technologies, behaviours, projects) to scaling through a quality of agency based on values that apply to all such as oneness and integrity. 🏡 📣 Fractal approach to scaling is grounded in universal values can simultaneously work across the practical, political, and personal spheres. 🌏 🌆 The fractal metaphor presents a different and potentially more useful way to conceptualize scaling sustainability transformations and to reconcile local- and global-scale solutions. 🌸 ⚖️ Universal values shift systems in the political sphere, and produce results we wish to see in the practical sphere - when agency is grounded in universal values, self-similar patterns transform the larger field Earlier this month our teams at Socratus Collective Wisdom Corporation and Mahila Housing Trust came together to conduct a Women's Jury on Climate & Health and in the process, we came close to evoking this idea of 'fractal agency'. The design of the jury process was centered around creating a different relational environment for these women from low-income housing groups of Bangalore, to step into. Usually the subject of top-down solutions, we designed a space to help them step-into a different relational paradigm - and they have continued to hold threads of collective action since the 2-day event. There are concrete demands of 24x7 water supply shaping up and a keen interest in green-jobs and livelihoods is coming through. As we continue to build on this work with the help of others - it is indeed a moment to step back and celebrate this 'fractal agency' in making! Gratitude to colleagues from both organisations who led this effort - Bhargavi Nagendra Srinidhi Gurunath Smriti T. Palak shah and the entire MHT team with support from Nithin Vemula Adrija Chaudhuri Amiya Chaudhuri Malavika Nair And to all the subject-matter experts who took the time to engage with the jury of 'lived-experience' experts Vishwanath S Seema Mundoli Sylvia Karpagam Vikram Rai Inde TG Chethana Kishore Ujjvala Krishna Priya Desai Vinay Kooragayala Sreenivasa Radha Chanchani And everyone who took out time on a Friday & Saturday to attend and share thoughtful insights Akshatha Venkatesha Tara Krishnaswamy Namrata Ginoya Sahana Goswami teams from Ellara Bengaluru Restless Development Hasiru Dala Purpose and special shout out to Centre for Environment Education teams that flew in from Pune for the two days. Link to the paper - https://lnkd.in/g4r7v__S Link to DH coverage of jury - https://lnkd.in/g5VGRUrC

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This is very helpful not only for those working directly in Circular Economy, but for any other company/manager designing sustainability strategy for years to come. As future industries are unimaginable without change towards circularity. #circularity #futureofindustry #circulareconomy

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We are in the reporting season and I thought it is important to have an answer to this question and plan the communication strategy accordingly. The question is who, according to you, should be reading your sustainability disclosures rather than who is reading them. Is your sustainability communication reaching the right audience? #sustainabilitydisclosure #sustainabilityreporting #esgreporting #valuereporting #integratedreport #communicationstrategy Thank you Shashwat DC, for the edits and input.

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Many thanks to Marie Petre for sharing her expertise and perspectives on #SBTI, the unilateral decision regarding Carbon Offsets, and the value of Rules and Processes when developing global and open standards for industry. https://lnkd.in/egPeHCaP #GS1 #ANSI #CSA #CEN #ISO

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Check out the important brief by Janet Ranganathan from the World Resources Institute on "E-liabilities vs. GHG Protocol Approaches to Emissions Reporting: What you Need to Know". It's a careful and well reasoned analysis and moves beyond the "either/or" tone of some of the dialogue to date. We need multiple tools in our #GHGaccountingtoolbox - including balance sheet carbon accounting - to get the job done. The critical importance of the Greenhouse Gas Protocol (GHG Protocol) Protocol is not lessened by the existence of alternative approaches to emissions reporting. Over the 3+ years that #SB253 made its way through a highly-contested legislative process, two hallmarks of the policy were reporting in conformance with the #GHGProtocol and the inclusion of #scope3. We required the use of the GHG Protocol because it is the global leading standard and the throughput across all emerging mandatory reporting regimes. It has not only stood the test of time but it has continued to develop to meet the needs of a rapidly changing corporate reporting landscape. It's time to roll up our sleeves to support and inform the update of the GHG Protocol and drive #carbonaccounting #corporatedecarbonization #smartclimateaction and the development of a global #climateeconomy. Michael X Macrae, PhD Tatiana Roșu Dr. Alexander Nick Anna Stanley-Radière Fiona Watson Dan Lashof Diane Holdorf Katie Schmitz Eulitt, INSEAD MBA, GCB.D Melissa Romero Melanie Morelos Monica Palmeira Tate Hanna Erik Mebust Jake Rascoff Steven M. Rothstein Reed Addis Ross Zelen Kim Stone Russell Mitchell Kristina Wyatt Matthew Fisher Alex Fujinaka Neal Kemkar Emily Pierce Alexia Kelly

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🌍 𝗧𝗮𝗸𝗶𝗻𝗴 𝗮 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗔𝗽𝗽𝗿𝗼𝗮𝗰𝗵 𝘁𝗼 𝘁𝗵𝗲 ‘𝗦’ 𝗶𝗻 𝗘𝗦𝗚: 𝗖𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗮 𝗦𝗼𝗰𝗶𝗮𝗹 𝗜𝗺𝗽𝗮𝗰𝘁 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 🌍 As #sustainability evolves, the focus shifts from environmental to encompassing broader social responsibilities. The ‘S’ in ESG, crucial yet underemphasized, represents an organization’s commitment to social sustainability, which impacts areas such as human rights, #DEI, labor practices, and community engagement. 🔍 𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗦𝗰𝗮𝗹𝗲 𝗼𝗳 𝗖𝗵𝗮𝗻𝗴𝗲 The U.N. Sustainable Development Goals and heightened #regulatory frameworks underscore the importance of robustly addressing social issues. Stakeholders—investors, #customers, and communities—now demand transparency and action on social sustainability efforts. 📈 𝗪𝗵𝘆 𝗦𝗼𝗰𝗶𝗮𝗹 𝗜𝗺𝗽𝗮𝗰𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 Social sustainability isn’t just about corporate responsibility—it’s a strategic asset. By integrating social impact into core strategies, organizations can enhance #employee morale, drive innovation, and improve financial performance, creating long-lasting societal benefits. 📊 𝗖𝗿𝗮𝗳𝘁𝗶𝗻𝗴 𝗮 𝗦𝗼𝗰𝗶𝗮𝗹 𝗜𝗺𝗽𝗮𝗰𝘁 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 A robust social impact #strategy aligns with business objectives, addressing stakeholder needs through measurable, impactful actions. This strategy furthers ESG goals and solidifies the organization’s role in advancing societal #wellbeing. 🔗 𝗚𝗲𝘁𝘁𝗶𝗻𝗴 𝗦𝘁𝗮𝗿𝘁𝗲𝗱 Embarking on a social impact strategy begins with understanding the internal and external factors influencing your organization. Engage stakeholders, assess current initiatives, and prioritize actions that align with your mission and business #strategy. Organizations prioritizing social sustainability demonstrate commitment to ethical practices and meet stakeholder expectations, positioning themselves as leaders in a competitive, evolving marketplace. Read more about integrating and leveraging social impact in your strategy: https://lnkd.in/e6qDA8rR. #KPMGESG #Leadership #Sustainability #SocialImpact #ESG

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ESG Standards and Frameworks 🌎 ESG reporting standards and frameworks are essential tools for companies aiming to effectively disclose their sustainability practices and outcomes. These frameworks are designed to cater to a diverse array of stakeholder needs, ranging from investors and customers to regulatory bodies.

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Are you an in-house sustainability professional exploring Climate Scenario Analysis (CSA)? CSA is a methodology to inform strategic, long-term business plans based on possible future climate scenarios. Not only is it a regulatory requirement for some organisations, it is also (and probably more importantly) an incredibly helpful tool to build robust and resilient long-term strategic plans. If it is something on your radar, then you can register your interest below for a webinar our expert team are currently planning to decode CSA and how it can be used effectively. https://lnkd.in/eGt-JzFq

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SUMMARY OF THE #COP29 PRESIDENCY INITIATIVES AND OUTCOMES #Climate Finance Action Fund (CFAF): A fund, capitalised with voluntary contributions from fossil fuel producing countries and companies, to catalyse the public and private sectors across mitigation, adaptation, and research and development. The Fund will also have special facilities for highly concessional and grant-based funding to rapidly address the consequences of natural disasters in the developing countries in need. #The Baku Initiative for Climate Finance, Investment and Trade (BICFIT): An initiative to focus on the nexus of climate finance, investment and trade, with a platform to promote investment into green diversification, support policy development, and share expertise through dialogue. #COP29 Green Energy Zones and Corridors Pledge: A pledge to commit to green energy zones and corridors, including targets to promote investment, stimulate economic growth, develop, modernise and expand infrastructure, and foster regional cooperation. #COP29 Global Energy Storage and Grids Pledge: A pledge with a target to increase global energy storage capacity six times above 2022 levels, reaching 1,500 gigawatts by 2030. To enhance energy grids, endorsers will also commit to considerably scaling up investments in grids as part of global efforts to add or refurbish more than 80 million kilometres by 2040. #COP29 Hydrogen Declaration: A declaration for both the public and private sectors to unlock the potential of a global market for [clean] hydrogen and its derivatives with guiding principles and priorities, to address regulatory, technological, financing, and standardization barriers. #COP Truce Appeal: An appeal for a COP Truce, modelled on the Olympic Truce, to highlight the importance of peace and climate action. The COP29 Peace and Climate Initiative is a separate initiative, co-led with partners, that envisages to deliver tangible outcomes such as establishing a centre of excellence hub to match the needs of the most vulnerable with existing resources and foster further action for the operationalisation of various initiatives on the peace and climate nexus. COP29 Azerbaijan, Malaysia Pavilion UNFCCC, UNFCCC UN, National Disaster Management Authority (NDMA)INDIA, United Nations Office for Disaster Risk Reduction (UNDRR), Prashant Mishra, Dr. Brijendra Kumar Mishra, CROPC (Inter-Governmental Scientific Organisation)

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