The European Sustainability Reporting Standards (ESRS) ESRS 2 General Disclosures require companies to report on their value chains. What is required? The undertaking shall disclose the elements of its strategy that relate to or impact sustainability matters, its business model and its value chain. ESRS, Strategy Disclosure Requirement SBM-1 – Strategy, business model and value […]
The Importance of Value Chains Read More »
Financial materiality is the second half of double materiality. What is it? Financial materiality involves identifying information that is considered material for primary users of general-purpose financial reports in making decisions relating to providing resources to the entity. Information is deemed financially material “…if omitting, misstating or obscuring that information could reasonably be expected to
Aspects of European Sustainability Reporting Standards (ESRS) – Continued Read More »
This is part one in a series of posts to come. In this and future posts, I want to highlight some of the major aspects of the European Sustainability Reporting Standards (ESRS). I will start with how the ESRS deal with materiality, which is fundamental to all sustainability reporting. What are the ESRS? The ESRS
Aspects of the European Sustainability Reporting Standards (ESRS) Read More »
As part of its climate change project, GRI has issued an exposure draft to review changes to its topical standard GRI 302: Energy 2016. The review and public comment period ends February 29, 2024. According to GRI, the objectives of the revised energy-related disclosures will enable an organization to disclose publicly its most significant impacts
New GRI Energy Standard Proposal Read More »
GRI has issued the GRI Climate Change Topic Standards Exposure Draft, which is available for review and public comment until February 29, 2024. What is the purpose of this new standard, given that other topic standards such as GRI 305 Emissions and GRI 302 Energy already exist? GRI explains it as follows: The primary objective
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On 25 January 2024, GRI published a new topic standard GRI 101: Biodiversity 2024, which replaces GRI 304: Biodiversity 2016. One might ask why the numbering of the standard changed after the revision. Good question! According to the GRI FAQs, The number of the Standard has been changed as a result of the 2021 update
New GRI Standard Update! Read More »