Accountancy Europe’s proposal for sustainability reporting standards

by Carol Adams Main points: Accountancy Europe has proposed new structure for sustainability and other forms of non-financial reporting Further consideration should be given to the problems that need to be addressed Any solution must involve enforced mandatory requirements for large companies Accountancy Europe’s proposed structures for sustainability and other forms of non-financial reporting mirror […]

Investors are asking the wrong questions about sustainability

by Carol A Adams When it comes to hitting the 2030 targets underpinning the UN’s 17 Sustainable Development Goals, considering risk alone will not cut it. Larry Fink’s recent emphasis on climate change risks and divesting in coal is significant, albeit a few decades late, but what about opportunities? And what about other sustainable development issues that […]

Call for improved UN Sustainable Development Goals disclosures

by Carol A Adams Main points: Sustainable Development Goals Disclosure (SDGD) Recommendations is published today by leading accounting bodies and others. The SDGD Recommendations are aligned to GRI, IIRC and TCFD. Consultation responses and a Feedback report informed the Recommendations. Consultation responses emphasised the need for accountability for value destruction and negative impacts. Recommendations calling […]

The consultation responses

by Carol A Adams Main points: Responses to Recommendations for SDG Disclosures: A Consultation Paper are now available (links below) A Feedback paper by summarising these responses and responding to the consultation input will be published shortly Recommendations for SDG Disclosures: A Consultation Paper by Carol Adams, Paul Druckman and Russell Picot was published in […]

Responses to the consultation on Recommendations for SDG Disclosures

by Carol A Adams Update (15th January 2020): The full responses are now available here Main points: Responses have been received from framework/standard setters, professional accounting bodies, reporting organisations, asset owners, asset managers, consultants and civil society participants to Recommendations for SDG Disclosures: A Consultation Paper A response to the consultation responses will be published […]

Have your say on recommended SDG Disclosures

By Carol A Adams Main points: The sustainable development issues addressed by the UN SDGs will impact on long term business success. Businesses, asset owners and asset managers are incorporating the risks and opportunities they bring into their decision making. ACCA, CAANZ and ICAS have collaborated to publish SDG disclosure recommendations – accountants have a […]

Evidence of the take up of integrated reporting

Main points: Most integrated reporters reference the GRI Standards Integrated reporting is popular among SMEs 85% of self-declared integrated reporters discuss at least four capitals Japan is catching up with South Africa in terms of the number of integrated reporters In depth research commissioned and just published by the French accounting regulator, Autorité des Normes Comptable, […]

‘Harmonisation’ or dumbing down non-financial reporting?

by Carol Adams Main points: The key non-financial reporting frameworks deal with different issues and serve different audiences “Harmonisation” appears to mean simplification but the complexities facing business require a multi-faceted response – there is no one reporting framework that addresses all the issues / audiences. Corporate reporting frameworks influence what businesses focus on –  […]

Weighing the future cannot be a technical, bureaucratic exercise

by Carol Adams Main points: You can’t reduce materiality determining to a bureaucratic and technical process How you measure something can bring unintended consequences Some managers are able to weigh up complex issues with opposing impacts while others find it difficult Involved in sustainability standards for many years, including the development of the AA1000 standard […]

Understanding key stakeholder perspectives in non-financial reporting

by Xinwu He Financial reporting has long been the major topic in Corporate Reporting courses. Traditionally, students who are trained as accountants are taught to do correct accounting treatments, produce financial statements, calculate financial ratios and analyze financial information. Over the last few years, the importance of non-financial reporting has increased through sustainability/corporate social responsibility (CSR)/environmental, […]