The newly established Sustainability Standard Board (ISSB) has just published two proposals for the first IFRS Sustainability Disclosure Standards covering general requirements and climate-related disclosure requirements.
Consolidation of climate-related disclosure requirements
With the proposals, we see a continued maturation of the area within ESG reporting and a continued movement towards integrating financial and non-financial reporting.
Requirements or not, the movement is driven by increased demand from investors and capital markets, as financial information is no longer sufficient when they have to make decisions about investment and resource allocation
Christian Møllegaard
Partner, ESG Advisory Services
KPMG in Denmark
With the new requirements from ISSB, we will see a greater consolidation of the regulations universe in connection to, among others, TCFD (Taskforce for Climate Related Financial Disclosures) and SASB (Sustainability Accounting Standards Board). This is an important step towards ensuring the necessary comparability across companies and countries to meet the global capital market.
We can help you
In our work and dialogue with companies in the field of reporting, there are often two main challenges in focus:
- How do companies ensure timely and valid data in the ESG area for use in both internal and external reporting?
- How do companies navigate a rule universe that spans wide within the ESG area?
In KPMG Reporting & Accounting Advisory Services, we are experts in this, no matter where in the process the challenges are. We help companies solve a wide range of tasks, including:
- Implementation of an effective governance model for the ESG area
- Establishment and optimization of reporting processes for ESG data, including data collection, consolidation and validation
- Advice and dialogue about current and future regulations
- Ensuring an effective and valuable interaction with capital markets
We have just published a short guide that focuses on what companies need to be aware of with regards to the upcoming requirements from ISSB, and we are happy to help you understand what this means for your organisation.
