Last month, IIRC Corporate Reporting Dialogue participants CDP, the Climate Disclosure Standards Board, FASB (participating as an observer), GRI, IASB, the International Organisation for Standardisation, and SASB launched a 2-year Better Alignment Project aimed at better aligning the various sustainability reporting frameworks with one another and with frameworks that promote financial/non-financial reporting integration to make it easier for companies to disclose information responsive to market and societal demands.
The FAQs elaborate:
SASB, GRI, CDP and CDSB will map their frameworks against the Task Force for Climate-related Financial Disclosures (TCFD) recommendations and align their metrics where possible across all their reporting frameworks taking into account the different focuses and audiences. This work will be conducted in the context of supporting further integration of financial with non-financial reporting, through identifying how the non-financial metrics relate to financial outcomes and how these can be integrated in mainstream reports.
Participants reportedly have already adopted a Statement of Common Principles of Materiality, developed a map of the reporting landscape, and jointly endorsed the TCFD recommendations. The first concrete output of the Project showing the linkages of the TCFD Recommendations with the respective reporting frameworks and the linkages between the frameworks is expected in Q3 2019.
|
See also the CDSB's release; these articles from Corporate Secretary and IPE; and this comparison table of some of the leading sustainability reporting frameworks from The Conference Board.
This post first appeared in the weekly Society Alert!
|