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🌍The Greenhouse Gas Protocol (GHG Protocol) and the IFRS Foundation have signed a memorandum of understanding (MoU) to collaborate on sustainability standards and enhance compatibility between the GHG Protocol and the International Sustainability Standards Board (ISSB). 🤝 This MoU aims to ensure compatibility, reduce costs, and meet the needs of capital markets. Governance arrangements include ISSB having an observer on the GHG Protocol Independent Standards Board, fostering a deeper collaboration. Important benefits of this enhanced partnership include: 💡 Supporting ongoing compatibility and reducing company costs and effort. 🔍 Much-needed clarity and consistency in reporting, empowering companies to focus on reducing emissions. 📈 Harmonising disclosure efforts, driving accountability and transparency. 🌐 Standardising GHG reporting globally. This partnership marks a major milestone in streamlining GHG reporting, aiding companies in their climate goals, and ensuring transparency in financial markets. 🌏📈 …… Enjoyed this post? My posts help people interested in #impactinvesting, #responsiblefinance, #ESG and #sustainability stay informed. 🔗 Follow me and Wholesum for more insights, news, and articles. #IFRS #CorporateResponsibility #ClimateDisclosures

Final versions of the AASB’s Australian Sustainability Reporting Standards, AASB S1 and AASB S2, have now been released! AASB S1 is a voluntary Standard addressing general requirements for disclosure of sustainability-related financial information, while AASB S2 is a standalone mandatory climate-only standard based on the International Sustainability Standards Board (ISSB)’s IFRS S2. You can learn more at https://lnkd.in/gz8bnUCw The release of the final standards follows the successful passage through Parliament last month of legislation establishing Australia’s mandatory climate disclosure regime – a significant milestone for increasing market transparency in relation to climate risk and opportunity. Don’t forget to come along to our Summit on October 31 to dive deeper into the role of policy and regulation to support capital in achieving Australia’s sustainability goals. Register now: https://lnkd.in/gCviP3-P Australian Accounting Standards Board #SustainableFinance #ClimateReporting #SustainabilityReporting

This is a turning point and a very welcome one - coming after years of it often being hard to tell the difference between those with lofty-sounding aspirational statements [often partnered with a photo of a small child holding a tree seedling or similar] and those really doing the work of acknowledging the harms caused by their own business practices and deciding to measurably do better. #Facts #metrics #data are now to be the rule. AND so important climate impacts are moved from the 'oh that's all externalities' approach to having to calculate the financial implications of commercial decisions that are the equivalent of wilful depositions of post-digestion biomass in the shared global nest known as Planet Earth.

Mandatory climate-related reporting requirements for listed and large non-listed companies in Singapore, with obligations for some to begin disclosing in line with the IFRS ISSB standards starting as early as 2025. The new climate reporting obligations will be implemented in a phased approach, beginning with listed companies in 2025, followed by large, non-listed companies, defined as those with at least $1 billion in revenue and $500 million in assets in 2027.

🇦🇺  In January the Australian Government released a draft bill which, if passed, will introduce mandatory, internationally-aligned climate-related financial disclosures from the 2024/5 financial year.  🗒 If passed, companies will have to report and keep records of their climate related financial risks and opportunities with respect to greenhouse gas emissions, governance, risk management and emission reduction targets. ⏳ The draft bill requires the first group of companies to report in the financial year between 1 July 2024 and 30 June 2026. The third and final group will commence reporting on or after 1 July 2027. 🌍 This fits into a global trend of sustainability reporting standards being implemented. Big businesses are the first to be impacted but small businesses will inevitably have to comply too. Is your business prepared to meet these reporting requirements? #sustainability #sustainabilityreporting #sustainabilitydisclosure

CDP is ISSB’s key global climate disclosure partner with 23,000 companies already disclosing in 2023. The ISSB’s climate standard is the foundational baseline for CDP’s climate disclosure. The 2024 CDP questionnaire is aligned with IFRS S2 Climate-related Disclosures (IFRS S2). Together with the disclosed dataset, the questionnaire provides an effective tool to support companies on their path to ISSB compliance. #esg #compliance #sustainabilityreporting #standards IFRS Foundation International Sustainability Standards Board (ISSB) CDP View the shared file at: https://lnkd.in/gN9_zazJ Edit, sign, and share PDFs on the go with the Acrobat Reader app: https://lnkd.in/gfu4SRjG

Australia is following in the footsteps of the US and EU in adopting mandatory reporting standards based on International Sustainability Standards Board (ISSB)'s standards. These mandatory reporting criteria link sustainability to financial risk. At this week's ChangeNOW conference, it was evident that more and more corporates and investors are seeing sustainability as more than a solely financial risk issue. There is a huge opportunity for companies to ensure that the data collected for mandatory reporting is used to set and track progress against an overarching #sustainability strategy and go beyond tick box reporting requirements. Claire Scobie JANNINE BARRON

The Australian Accounting Standards Board (AASB) has released an exposure draft containing Australia’s first sustainability reporting standards that focus on climate. Australasia's Michelle Warren, gives an overview of the proposed changes. > https://bit.ly/4dFc0ko #australiansustainabilityreporting #climaterelateddisclosures #financialreportingupdates #ClimateReporting #HLB 

PART 1/3 Last month, the Australian Accounting Standards Board has published a sum up of recent amendment discussions for the upcoming Australian Climate Disclosures (#CRFD). Here is what you need to know: #ASRS 1: will be realigned to the baseline of #IFRS S1 General Requirements Standard to get back to its original intent; providing general guidance on reporting approach for any type of sustainability topic. As such, ASRS 1 would be made non-mandatory ("voluntary"). #ASRS 2: climate-related content will be transferred from ASRS 1 to ASRS 2 to make it a standalone, mandatory climate-only standard. This main change will be accompanied by specific amendments such as: 👉the reinstatement of 𝗰𝗿𝗼𝘀𝘀-𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗺𝗲𝘁𝗿𝗶𝗰𝘀 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀: amount and percentage of assets or business activities vulnerable to climate-related transition/physical R&O, amount of capital expenditure, financing or investment deployed towards climate-related R&O, internal carbon prices and management remuneration criteria 👉𝗺𝗼𝗿𝗲 𝗹𝗮𝘁𝗶𝘁𝘂𝗱𝗲 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗚𝗛𝗚 𝗺𝗲𝗮𝘀𝘂𝗿𝗲𝗺𝗲𝗻𝘁 𝗺𝗲𝘁𝗵𝗼𝗱𝗼𝗹𝗼𝗴𝘆: by permitting the use of GHG Protocol in first instance, instead of the mandatory use of NGER methodology. 👉to adopt the 𝗹𝗮𝘁𝗲𝘀𝘁 𝗴𝗹𝗼𝗯𝗮𝗹 𝘄𝗮𝗿𝗺𝗶𝗻𝗴 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 (𝗚𝗪𝗣) 𝘃𝗮𝗹𝘂𝗲𝘀: in GHG emissions calculation, instead of mandatory use of AR 5 from IPCC 5th assessment - except if emissions have already been calculated using emissions factors from Australian National Greenhouse Accounts Factors 👉𝗦𝗰𝗼𝗽𝗲 𝟮 𝗠𝗮𝗿𝗸𝗲𝘁-𝗯𝗮𝘀𝗲𝗱 𝗲𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀: no longer mandatory from year 4, but can be disclosed voluntarily from year 1 if the company deems it useful. 👉𝗦𝗰𝗼𝗽𝗲 𝟯 𝗲𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀: are to be disclosed against the 15 categories of the GHG Protocol #CRFD #AASB #ISSB #IFRS #ASRS #climatereporting #sustainability Schneider Electric Sustainability Business

The Senate passed the Mandatory Climate Reporting Bill, with new requirements expected to start on 1 January 2025. This marks a significant shift towards increased transparency and accountability in how organizations disclose their climate-related risks and opportunities. Key points to know: Organisations will need to make annual disclosures in line with the Australian Sustainability Reporting Standard Climate Standard (AASB S2), an adaptation of IFRS S2. The requirements will be phased in over three years, starting with the largest emitters, companies, and financial institutions. Reports will cover governance, strategy, risk management, and metrics, including detailed information on Scope 1, 2, and 3 emissions. Scope 3 emissions, which often represent more than 70% of a company's total emissions, will require significant engagement with supply chains to manage risks and meet decarbonization goals. Audit and assurance requirements will be mandatory from 1 July 2030. 🌍 This is a critical time for businesses to start preparing. Get ready to engage your supply chains, assess climate risks, and align with decarbonisation targets. Sign up for the G4B email newsletter, "Impact Matters" to be informed about the evolution in B Corp standards and tips for using business as a force for good: https://lnkd.in/dfYa8jgT @manlychamber #bcorp #bcorporation #bcorps #goodbusiness #goodbusinessesdogood #goodbusinesspractices #good4business