Oksana Chikina’s Post

This recent announcement supports the global movement around consistent, comparable and verifiable information related to sustainability and in particular climate disclosures. Great to see the drafts are building on the ISSB's global baseline. I look forward to diving in!

Game Changer for Global Sustainability Reporting? Exciting Developments in Public Sector Sustainability Reporting! ☘️The International Public Sector Accounting Standards Board (IPSASB) is making waves in the realm of transparency and accountability in climate action with the release of its inaugural Sustainability Reporting Standard (IPSASB SRS TM)draft for public comment. Here’s why this is a significant milestone: 1️⃣ Global Accountability: This pioneering climate-related disclosure standard empowers governments worldwide to effectively report on their climate action initiatives, fostering transparency and trust. 2️⃣ Public Sector Leadership: Only governments possess the authority to spearhead coordinated actions against climate change through essential policy tools like taxation and regulation. 3️⃣ Investing in Solutions: As public sector finances face pressure in a post-pandemic world, the capital markets must play a vital role. The proposed standard will enable governments to deliver consistent, comparable, and verifiable information that is crucial for maintaining investor confidence. 4️⃣ Alignment with Global Standards: The SRS ED 1 aligns with the International Sustainability Standards Board (ISSB) framework, ensuring that public sector organizations provide robust, comparable sustainability information for investors. Key Features of the New Standard: ⚪️ Alignment with Global Standards: Built upon the ISSB’s global baseline, SRS ED 1 ensures consistency between public and private sector reporting. ⚪️ Focus on Capital Markets: Responding to the financial community's demand for verifiable climate action data, this standard is particularly important as sovereign bonds represent nearly 40% of the $100 trillion global bond market. ⚪️ Comprehensive Disclosure Requirements: Governments will be mandated to disclose detailed information regarding their climate-related risks, opportunities, and actions. ⚪️ Global Applicability: Designed for public sector entities worldwide, promoting international comparability and collaboration. This initiative has the potential to significantly influence capital market decisions related to sovereign bonds but also pushing global standards in public sector so we can get an aligned understanding of climate date and progress from both public and private sector! #SustainabilityReporting #ClimateAction #PublicSector #IPSASB #InvestorConfidence #GlobalStandards #CapitalMarkets #ClimateDisclosure ##sustainability #climatechange #esg #togetherforgreen #togetherforclimate #togetherforaction #cop29

The Watershed team has all the essential insights for preparing for the ASRS, from timelines to report structures and interoperability with other regulations. Dive into our latest overview of Australia's mandatory sustainability disclosures here: https://lnkd.in/gfepYtxB.

🆕 Here’s a concise summary of Singapore’s move toward mandatory climate reporting: 💠 Phased Approach: - Listed companies begin disclosing in 2025. - Large non-listed companies follow in 2027. 💠Emissions Focus: - Larger registrants report Scope 1 and 2 emissions when material. - Attestation reports verify accuracy. 💠Global Impact: - Aligns with Europe’s #CSRD. - Accelerates U.S. climate reporting. 🌎📊 ⬇ Read more via the Sustaira article below!

The Watershed team has all the essential insights for preparing for the ASRS, from timelines to report structures and interoperability with other regulations. Dive into our latest overview of Australia's mandatory sustainability disclosures here: https://lnkd.in/gfepYtxB.

This is an excellent explanation of the new Australian Sustainability Reporting Standards - clear and concise, on what can be a complicated topic.

Follow the link for a short summary of IPSASB's March meeting focusing on sustainability reporting, natural resources and presentation of financial statements. #IPSASB https://lnkd.in/eCcaQG7b

Big news out of #Singapore this week as the government announces its new sustainability reporting regulations. Starting FY2025, listed companies must report annual climate-related disclosures aligned with International Sustainability Standards Board (ISSB) IFRS standards. By FY2027, this requirement extends to large non-listed firms with over $1 billion in revenue and $500 million in assets. The reporting aims to drive the #greentransition, helping companies strengthen #sustainability capabilities and access new markets. The phased implementation gives companies time to prepare, with key requirements including reporting Scope 1, 2, and 3 emissions, obtaining external assurance, and leveraging government support. Our mandatory reporting and climate risk team is here to help companies navigate this evolving landscape. Reach out to learn more about how we can assist you. Whether you need advice on meeting the new requirements or want to stay ahead of the curve, we're here to support your business. Anthesis Group Hannah Meade Gregor Theinschnack Julian Soo Lucy Wedge Peggy Oh #mandatoryreporting #sustainabilityreporting #climaterisk #climatedisclosures #ISSB #singapore #financialreporting https://lnkd.in/eqgfsawS

It's not about CSRD but about Impact Materiality! Then, will Impact Materiality influence non-EU firms' global sustainability strategy? This article suggests that no, because firms only think global : "Take, for example, a large, U.S.-based company that operates across multiple sectors and multiple geographies ...they would likely not start with a subsidiary-level approach to double materiality and compliance with CSRD". In fact it's not true, for instance, if you listen to Applied Materials in this webinar at min'27 (https://lnkd.in/eb9Yvet3), or if you look at the number of companies using GRI, or the increasing interest for Double Materiality across the globe. Accepting the fact that companies like the rational idea of not waiting for a subject to become financially material is in their interest, is an idea that must be protected from predictive assertions. Kerstin Lopatta Robert Eccles Kristen Sullivan Deloitte EFRAG SASB Standards Global Reporting Initiative (GRI) International Sustainability Standards Board (ISSB) International Organization of Securities Commissions (IOSCO) Financial Stability Board (FSB) Network for Greening the Financial System (NGFS) #sustainability #esg #csrd #climatechange #esgreporting https://lnkd.in/ejQk9nQ7

Accolade to ACRA and SGX to issue this in early 2024 to steer listed and large non-listed companies in the timeline of making climate related sustainability disclosures. Listed companies should use the next few months to get ready for reporting in 2025. Even though the assurance requirements is not effective immediately, early involvement of auditors will certainly avoid surprises and more importantly, helps in the robustness of the reporting, just like financial statements.