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 […]

Sustainability reporting and trust in banks

As a sector banks struggle to get and maintain customer trust.  The annual reports of the Royal Bank of Scotland over the last decade discussed their efforts to regain it.  A photograph depicts large text over stairs stating: “Our future is not about us, it’s about our customers”.  Over the last decade or two banks […]

Comment letter on the Exposure Draft proposing amendments to the IFRS Foundation Constitution

by Carol A Adams Response to the proposed amendments to the IFRS Foundation constitution to accommodate a new board to set “sustainability standards” Question 1 Do you agree that the amendments proportionately reflect the Trustees’ strategic direction, considering in particular: (a) the proposed amendments to the objectives of the Foundation, outlined in the proposed new […]

IFRS Foundation Trustees: key acknowledgements not addressed in strategy

by Carol A Adams Main points: the IFRS Foundation Trustees’ response to feedback acknowledges some key findings of research; some matters acknowledged by the Trustees are not (currently) incorporated into their strategy. Research demonstrates the urgent need for mandatory sustainability reporting standards to achieve sustainable development and also that such standards need to be enforced […]

US Council of Institutional Investors taking an interest in SEC position on climate and diversity disclosures

Main points: The US Council of Institutional Investors is considering views on climate change and diversity disclosure. Some key stakeholders have views that might be considered ‘yesterday’s thinking’ in Europe with a limited view of what is financially material. The SEC is currently seeking public input on climate disclosure. The sustainability reporting and materiality debate […]