A new IFRS Foundation report reveals that more than 1,000 companies have begun referencing International Sustainability Standards Board (ISSB) standards in their reports, with 30 jurisdictions moving towards incorporating these standards into regulatory frameworks. The report, presented to the Financial Stability Board (FSB), highlights significant progress in aligning with the Task Force on Climate-related Financial…
At COP29, CDP and EFRAG announced a significant advancement in their partnership to enhance efficiency in the environmental data ecosystem. This strengthened cooperation brings the CDP’s global disclosure system into closer alignment with the European Sustainability Reporting Standards (ESRS), marking a pivotal step toward unified environmental reporting for companies worldwide.
The collaboration, which involved joint mapping…
As ESG concerns have moved from the margins to the mainstream, the relevance of these factors has skyrocketed. Today, investors are increasingly prioritizing ESG factors as indicators of a company's long-term viability, resilience, and ethical stance. Regulatory bodies worldwide are also enhancing ESG reporting requirements to ensure companies provide clear and reliable information about their…
Former President Donald Trump secured a second term this week, defeating Vice President Kamala Harris in a highly divisive election focused on issues such as abortion, foreign policy, and the economy. With Trump’s return to the White House, the GOP's control of the Senate, and a conservative-leaning Supreme Court, experts are sounding alarms on potential…
A new California law requiring large corporations to disclose value chain emissions and climate-related financial risks survived an initial legal challenge by the U.S. Chamber of Commerce. This decision by U.S. District Judge Otis Wright II allows regulations SB 253 and SB 261, signed by Governor Newsom in October 2024, to move forward. However, the…
The European Union (EU) is pushing to finalize a trade agreement with the South American Mercosur bloc by the end of 2024, EU Commissioner for Crisis Management Janez Lenarcic revealed last week. Despite ongoing negotiations, Lenarcic acknowledged that differences remain, particularly regarding a new EU law banning imports of products tied to deforestation, a contentious…
In a significant environmental breakthrough, the European Union achieved an 8.3% reduction in greenhouse gas (GHG) emissions in 2023, marking one of the largest year-over-year declines outside of the COVID-19 pandemic, according to a new report from the European Commission. This marks a major milestone in the EU’s pursuit of climate neutrality and reinforces its…
By Peter Paul van de Wijs, Chief Policy Officer
Corporate accountability is now a pressing global focus, underscored by recent international discussions on environmental action. Companies' roles in tackling sustainability challenges were central to last month's Biodiversity COP16 in Colombia, September's Climate Week NYC, and remain a high priority for the upcoming Climate Change COP29 in…
In today's business environment, sustainability and corporate responsibility are not merely buzzwords—they have become critical components for long-term success and brand reputation. Stakeholders, including consumers, investors, and regulators, increasingly expect companies to demonstrate accountability beyond financial performance, extending to their environmental, social, and governance (ESG) impacts. The Corporate Sustainability Reporting Directive (CSRD), introduced by the…
The European Securities and Markets Authority (ESMA) has released its 2024 European Common Enforcement Priorities (ECEP) Statement, outlining stringent new standards for corporate reporting under the Corporate Sustainability Reporting Directive (CSRD). This directive will now require over 50,000 companies to expand their disclosures on environmental, social, and governance (ESG) impacts.
Key priorities for the upcoming reporting…
Today, the three European Supervisory Authorities (ESAs)—the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA)—released their Final Report on the draft implementing technical standards (ITS). These standards pertain to the tasks of collection bodies and the functionalities of the upcoming European Single Access Point…
Governance is a critical pillar in ESG reporting, alongside environmental and social factors, as it ensures transparency, risk management, and accountability to shareholders and stakeholders. Effective governance builds trust and confidence in a company’s decision-making, aligning actions with long-term sustainability goals. By establishing clear and transparent structures, companies can better manage risks, proactively addressing challenges…