IFAC’s Post

Emissions Data Disclosures Jump, MSCI Report Says https://lnkd.in/gJEdSC4G #emissionsdata #datadisclosures #ESG #greenhousegas #ESGdata #scope3data #ESGrecords #CSRD #SEC MSCI Inc.

Companies won't have to report their Scope 3 greenhouse gas emissions– yet. Global accounting groups haven't finalized standardized reporting methods for supply chain emissions just yet, as gathering accurate information remains a challenge. The SEC is aiming to potentially mandate these emissions, but details and timeline are not yet decided. Read more: https://bit.ly/47XBMMY #IndustryNews #Reporting #Emissions #SupplyChain

Emissions Data Disclosures Jump, MSCI Report Says https://lnkd.in/gJEdSC4G #emissionsdata #datadisclosures #ESG #greenhousegas #ESGdata #scope3data #ESGrecords #CSRD #SEC MSCI Inc.

🌍 Exciting Developments in Corporate GHG Accounting! 📊 GHG accounting, pivotal in climate change, has seen remarkable growth in recent years. #Regulators and #Companies worldwide are increasingly embracing emissions disclosure initiatives, driving us towards a more sustainable future. The US #SEC's proposed rule and the EU's #CSRD are just two examples of the momentum building in this space. These regulations, alongside voluntary standards like the ISSB's IFRS S2, are shaping the landscape of corporate climate reporting. But what exactly is GHG accounting? It's the standardised measurement and monitoring of greenhouse gas emissions, crucial for understanding and reducing our carbon footprint. From #Scope1 to #Scope3 emissions, companies are now accountable for their entire #valuechain. At @Wolrd Resources Institute, we're proud to see #ghgprotocol , our flagship initiative launched in 1998, serving as the bedrock of corporate GHG accounting. Our ongoing revisions aim to ensure these standards align with ambitious emission reduction targets. The impact of #ghgaccounting extends beyond compliance – it's about identifying opportunities, managing risks, and engaging stakeholders. As we move forward, let's continue driving progress towards a low-carbon economy together. 🌱 #GHGAccounting #ClimateAction #Sustainability #CorporateReporting World Resources Institute https://lnkd.in/dWKqERw6

The rapidly escalating impacts of #climatechange are strengthening the need for more robust reporting on #greenhousegasemissions. Effective reporting delineates the particular risks and opportunities individual businesses face and directs investment towards the ‘greenest’ companies. Today, IFAC and We Mean Business Coalition, in partnership with Accounting for Sustainability (A4S), Global Accounting Alliance, and WBCSD – World Business Council for Sustainable Development, released guidance to support #CFOs, #accountants, and #financeprofessionals to undertake or enhance cost-effective and investor-grade #GHGreporting. The guide will help prepare companies for emerging mandatory international and jurisdictional standards and regulations, such as the International Sustainability Standards Board (ISSB) General Sustainability-related Disclosures (IFRS S1) and Climate-related Disclosures (IFRS S2), the European Financial Reporting Advisory Group's (EFRAG) European Sustainability Reporting Standards (ESRS) and proposed rules for climate change disclosures by the U.S. Securities and Exchange Commission (SEC). Access the guidance here: https://lnkd.in/eYv-3uAf

Today is set to be a watershed moment in North American securities regulation - the U.S. Securities and Exchange Commission will vote on whether to adopt climate-related disclosure rules for reporting companies in the U.S. However, recent reporting from Reuters suggests that the SEC is walking away from the ambitious reporting requirements that it proposed in draft regulations a couple years ago: it will likely drop reporting requirements for Scope 3 greenhouse gas emissions disclosures and disclosures for Scope 1 and Scope 2 GHG emissions will only be mandatory if they are material to the reporting company. It's a world away from what was first proposed and doesn't align with other prevailing, but voluntary, frameworks. What comes out of the U.S. today will also give Canadian securities regulators a lot to think about as they work on revising their own proposed climate-related disclosure rules. We'll see what the latest version of the rules have to say later this afternoon!