Kristiansson ESG’s Post

A Global Baseline with a Question Mark “A Global Baseline? How to Navigate Interoperability Across Sustainability Reporting Rules” This article published on the blog of the Harvard Law School Forum talks about regulatory #interoperability and how companies can take advantage of it. It also compares the “ISSB global baseline” with “Europe’s regional requirements” and other disclosure rules. But why the question mark in the headline? To me, it suggests that it remains to be seen what the real global baseline will eventually be. The International Sustainability Standards Board (ISSB) with its IFRS Sustainability Disclosure Standards wants to set a global baseline of #sustainabilitydisclosures. This is meant to be a foundational level of #sustainabilityreporting. Nevertheless, the article concludes that, as the Corporate Sustainability Reporting Directive (#CSRD) represents the most comprehensive sustainability reporting system to date, even organizations beyond its scope will see it as their “NORTH STAR”. That means that more and more companies will likely consider CSRD as a benchmark for their sustainability reporting, regardless of their geographic location. The European Sustainability Reporting Standards (#ESRS) with their strict and detailed requirements, particularly around the #doublematerialityassessment, may currently be more ambitious than what might be considered the global baseline. However, as the article points out, the #doublemateriality approach will largely fulfil the materiality requirements of other regulations. So companies, which make CSRD-compliant disclosures according to the ESRS, should in principle satisfy ANY non-EU requirements, too. So while the CSRD might not (yet?) officially be the "global baseline" due to its regional application and more ambitious requirements, it already offers a guiding benchmark for many companies regardless of where they are or whether they are legally bound to comply with its standards. Just like the North Star, it symbolizes direction, guidance, and purpose. ✨ And sustainability reporting requirements are clearly heading towards becoming more robust all over the world. So again, what will the true global baseline look like? https://lnkd.in/dRn4F4e7

🌟 Big News in Corporate Sustainability! 🌟   The UK government has announced plans to consult on disclosure requirements for economically significant companies as part of its efforts to enhance corporate sustainability reporting.   These upcoming consultations aim to align with global frameworks like the IFRS Sustainability Disclosure Standards, promoting transparency and accountability in sustainability efforts.   📌 What This Means: Businesses will need to prepare for more robust sustainability reporting requirements that showcases their environmental and social impacts.   👉 Learn more: https://lnkd.in/d3bKmaAz   #UKEPR #A2GinUK #Sustainability #ESG

The Sustainability Standards Board of Japan (SSBJ) released exposure drafts aligning with the International Sustainability Standards Board (ISSB) to establish standardized sustainability reporting. The drafts integrate IFRS Sustainability Disclosure Standards, covering general and climate-related disclosures. Aimed at Japanese companies, these drafts signal progress towards mandatory sustainability disclosures, including universal and theme-based standards.

The IFRS Foundation and the Global Reporting Initiative (GRI) are collaborating to enhance interoperability between their sustainability reporting standards. This initiative aims to create a unified and globally accepted sustainability reporting framework to meet the needs of investors and broader stakeholders. Companies stand to benefit from a streamlined reporting process, while investors and stakeholders will have access to comprehensive sustainability information for better decision-making. The alignment will reduce reporting burdens, promote wider adoption of sustainability practices, and enhance comparability and transparency across organizations and jurisdictions. Learn more about this significant step towards a more sustainable future: https://lnkd.in/gCre5-kg

🌍 The International Sustainability Standards Board (ISSB) aims to create a unified, global system for sustainability reporting as the ESG landscape evolves. Our experienced team can help you report transparently and build trust with your stakeholders by aligning with these latest frameworks. #Sustainability #ESG #Reporting #ISSB #EarthCheck #Transparency #Trust

In navigating the increasingly complex terrain of #sustainabilityreporting, leveraging #regulatoryinteroperability is key. Going forward, for companies with international operations, grasping the synergy between ISSB standards and regional directives like the EU's CSRD will likely prove to be critical. Understanding the nuances of different regulations and identifying areas of alignment proactively can help companies not only streamline reporting processes but also ensure that they can traverse multi-jurisdictional regulatory environments with greater ease, ultimately driving more impactful sustainability practices on a global scale. Read more on interoperability across sustainability reporting rules in this article published on Harvard Law School's Forum on Corporate Governance.

Japan releases proposed IFRS-based sustainability reporting standards, marking a significant step towards harmonizing global sustainability reporting practices. The move underscores the growing recognition of sustainability's role in financial decision-making and regulatory frameworks. Read more about this development here: https://lnkd.in/efsSBVRG #Sustainability #ReportingStandards #GlobalPolicy

Canadian Sustainability Rules Unveiled; Have your say The Canadian Sustainability Standards Board (CSSB) has announced its first proposed Canadian Sustainability Disclosure Standards (CSDS) for public consultation. The proposed CSDS 1 and CSDS 2 are aligned with the International Sustainability Standards Board (ISSB) standards IFRS S1 and S2, with Canadian-specific modifications. Stakeholders are invited to comment on the proposed standards and a paper discussing potential changes to IFRS Sustainability Disclosure Standards for use in Canada by June 10, 2024. The CSSB aims to advance sustainability disclosure standards in Canada, developing CSDS that align with global standards but include Canadian modifications. Read more: https://lnkd.in/gKgrCsvP

𝐂𝐒𝐑𝐃 𝐔𝐩𝐝𝐚𝐭𝐞𝐬: 𝐍𝐞𝐰 𝐅𝐀𝐐𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧 The European Commission has issued two new sets of FAQs to clarify sustainability reporting rules under the Corporate Sustainability Reporting Directive (CSRD). These FAQs address key topics such as taxonomy KPIs, reporting standards (ESRS), and compliance guidance for financial and non-financial entities. Stay informed about the latest developments in ESG reporting and ensure your organization is prepared for the evolving regulatory landscape. Need support with your ESG strategy? Reach out to our team for expert guidance. https://lnkd.in/d3SMacrh #GTG #CSRD #ESG #Sustainability #CorporateReporting #Compliance Reuben Portanier l Agnes A.

Japan Releases Proposed IFRS-Based Sustainability Reporting Standards The release of the exposure drafts marks the latest in a series of steps that may see Japanese listed companies facing mandatory standardized sustainability-related disclosure requirements