What next? Agreement on a two-pillar approach to sustainability reporting

By Carol A Adams On 24 March 2022, the IFRS Foundation and the Global Reporting Initiative (GRI) announced an agreement to coordinate their standard setting activities and align terminology and guidance. The unworkable notion of dynamic materiality concocted to show the relevance of bodies existing at the time has disappeared in favour of the ‘two […]

Investors need sustainable development thinking

by Carol A Adams What is ‘integrated thinking’ and does it really benefit investors?   The Value Reporting Foundation would like us to think so.  The VRF plans to follow last year’s publication of its prototype ‘integrated thinking principles’ with a ‘detailed’ methodology for their implementation. But could it all be a waste of effort […]

Response to the Australian Accounting Standard Board’s draft Position Statement on sustainability reporting

To: Keith Kendall, Chair, Australian Accounting Standards Board Comment letter on the draft Position Statement on Extended External Reporting (EER) I appreciate the opportunity to provide feedback on the draft Position Statement proposed by the Australia Accounting Standards Board (AASB) relating to Extended External Reporting (EER).  I have been following developments and evidence provided to […]

The development and implementation of GRI Standards: practice and policy issues

by Carol A Adams, Abdullah M. Alhamood, Xinwu He, Jie Tian, Le Wang and Yi Wang This chapter discusses the development of GRI Standards and reviews recent research on practice and policy issues concerning their implementation. Six themes emerged in research published between 2010 and 2021: applicability of GRI Standards; nature of adoption of GRI […]

Explainer: The Global Reporting Initiative – what investors, board directors, accountants, auditors and regulators need to know

By Carol A Adams Main points: Highlights the benefits of the Global Reporting Initiative (GRI) Standards issued by the Global Sustainability Standards Board (GSSB) to board directors, investors, accountants and regulators. 20+ year history and used by over 10,000 organisations world-wide. Introduces governance structure and reasons for their popularity. The Global Reporting Initiative’s (GRI) sustainability […]

A trial balance for sustainability reporting: reconciling the ISSB and the GSSB

by Carol A Adams The IFRS Foundation’s COP 26 announcement of the establishment of an International Sustainability Standards Board (ISSB) would not be a surprise to those following the discussions. Nor would its soaking up of the frameworks and Standards of the VRF (formerly SASB and the IIRC) and CDSB.  The recognition that investors need […]

There are no investment returns on a dead planet

by Carol A Adams The recent release by EFRAG of the ‘Climate standard prototype’ highlights the gulf between the approach to sustainability reporting taken by the EU (working with EFRAG, the GRI and now Shift) and that of the IFRS Foundation (working with the VRF). The new proposals for climate disclosures released by EFRAG seek […]

Let’s put sustainability back into the sustainability reporting debate

by Carol A Adams Main points: presents three possible scenarios as to how “sustainability” reporting might develop the current direction will not facilitate harmonisation or sustainable development a modification will facilitate both taking a step back, rethinking and re-engaging would offer more possibilities The talk about the ‘alphabet soup’ of reporting frameworks and standards might […]

A round up of the key themes from recent events – with links to recordings

by Carol A Adams Main points: Across the world various bodies and organisations are considering what policy development in relation to climate change and sustainable development means to them Summarises some recent events I’ve spoken at with some incredible people and includes links to recordings. ICAS discussion on the future of sustainability reporting standards In […]

My response to the IASB’s Exposure Draft on the Management Commentary Practice Statement

To: Andreas Barckow, Chair, International Accounting Standards Board Comment letter on the Exposure Draft on the Management Commentary Practice Statement I appreciate the opportunity to provide feedback on the Exposure Draft.  I have been following developments and evidence provided to the IASB in Board papers in connection with this revision over several years. Over that […]