Cyril Garcia

The #ISSB will commence projects to research disclosure about risks and opportunities associated with biodiversity, ecosystems and ecosystem services, and human capital.  Find out more about the ISSB’s latest decisions on its next two-year work plan: https://lnkd.in/e2eqdUUE #IFRSsustainability

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This is a great overview of the private sector nature-related assessment and disclosure approaches. A steps closer towards having nature accounted for in economic activities 🌿

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#Sustainability and #climate reporting standards saw convergence during 2023, with the formal disbanding of the Task Force on Climate-Related Financial Disclosures (TCFD). This has marked a point of transition for climate reporting, with the TCFD recommendations being fully incorporated into the #ISSB Standards. As practitioners seek to adapt and implement the ISSB climate disclosure framework, in this webinar as part of our Reporting with Confidence series, we will explore the disbanding of the TCFD, and the impact on the future of climate-related reporting, how companies and investors can prepare for ISSB, and more. Register now for this timely webinar: https://okt.to/VjRKTp

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𝐁𝐢𝐨𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲 𝐚𝐧𝐝 𝐇𝐮𝐦𝐚𝐧 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝑠𝑢𝑠𝑡𝑎𝑖𝑛𝑎𝑏𝑖𝑙𝑖𝑡𝑦 𝑟𝑒𝑝𝑜𝑟𝑡𝑖𝑛𝑔 𝑠𝑡𝑎𝑛𝑑𝑎𝑟𝑑𝑠 𝑎𝑟𝑒 𝑜𝑛 𝑡ℎ𝑒 ℎ𝑜𝑟𝑖𝑧𝑜𝑛! Yesterday, the International Sustainability Standards Board (ISSB) announced the commencement of projects to research disclosure about sustainability risks and opportunities associated with: 🌱 Biodiversity, ecosystems and ecosystem services; and 🌱 Human capital. In response to investor needs for a global baseline in sustainability reporting, the ISSB issued these two inaugural standards in June 2023: ✅ IFRS S1 - General Requirements for Disclosure of Sustainability-related Financial Information ✅ IFRS S2 - Climate-related Disclosures There is currently one specific IFRS Sustainability Disclosure Standard i.e. the Climate Standard or IFRS S2. With this week's announcement, we should expect the issuance of additional specific standards in the near future from these commenced research projects. According to the ISSB, both research projects will examine which disclosures investors require to be able to assess sustainability-related risks and opportunities in these areas.  Keep in mind that such disclosures are already required by the General Standard or IFRS S1, if they relate to material information about sustainability-related risks and opportunities. The ISSB states that it will build on existing initiatives and standards already under its purview i.e. the SASB Standards and CDSB guidance and, additionally, relevant aspects of the work of the Task Force on Nature-related Financial Disclosures (TNFD). #sustainabilityreporting #biodiversity #humancapital

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Its now official, while most countries have just or are about to enforce requirements on Climate Disclosures, International Sustainability Standards Board (ISSB) has just announced that their next focus will be on #Biodiversity and #HumanCapital

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Have we created an ESG disclosure monster that's devouring sustainability innovation? 👹 The post below by Joe Franses voices the screaming frustration of so many sustainability folks right now. Things I've heard: 🙃 "We're obsessively measuring our inability to make change" 😞 "I got into ESG to make a difference, instead I'm counting beans" 😮 "For what we're paying for double materiality big-5 advisors, I could hire 10 more product specialists to invent solutions" 🤔 "There are so many disclosure standards that sound the same; my boss thought I was joking" 😠 "I'm disclosing rather than doing" For many, ESG disclosure has overwhelmed everything else. Can't set goals, can't drive innovation, can't even think beyond the next report. Some clients have come to Futerra for 'off the self' research, workshops and innovations we can deliver to fill the gap. Because they can't dedicate any internal resources or intellectual bandwidth. I'm happy to be an outsourced font of innovation and engagement for now. But this is unsustainable. Real change comes from within. Transparency is great...if it drives action. So, is it? #CSRD #GRI

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The Taskforce on Nature-related Financial Disclosures (TNFD) and EFRAG have jointly published a mapping of the correspondence between the European Sustainability Reporting Standards (ESRS) and the TNFD’s recommended disclosures and metrics, illustrating the high level of commonality achieved. The 14 of the disclosures recommended by the TNFD and the ESRS requirements are both designed to provide relevant and faithful information on nature-related sustainability matters.

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Great week in #saville Spain at the SAP Energy Conference with clients, collaborators, and like minded Capgemini colleagues looking to tackle the biggest issue of our times linked to #climatechange, the #energytransition, and #co2emissions reduction. Huge challenges requiring the best and brightest minds to come together to find the solutions! #getthefutureyouwant! #sustainabilityleadership #bethechangeyouwanttosee. James Forrest | Nicole Alley | Peter King

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I watched the EFRAG Board meeting with surprising fascination yesterday, which covered #MaterialityAssessment guidance under #CSRD regulations. Regulatory guidance sounds really dry. No doubt. But, the business implications are huge, and, I find it really pleasing to see nature and social protections written and applied through law. Some huge topics were covered that will really influence businesses: 🏭 ***Group vs. Subsidiary level analysis and reporting*** Materiality analysis cannot be prohibitively difficult for complex groups. But at the same time, we cannot leave loopholes for hiding business impacts. 📈 🤐 ***Balancing the Quantitative and the Qualitative/Stakeholder*** Strong emphasis has been placed on using data, especially data backed by #scientific consensus . But, good debate yesterday to also ensure guidance doesn't ignore the voices of affected communities and stakeholders. One surprisingly lively debate caught my eye. How can numerous small 'immaterial' impacts in each subsidiary amount to an aggregate 'material' impact for the Group? The answer was well articulated by valiant EFRAG Technical Group members, giving the example of mercury pollution, which I would elaborate could have a very material impact if polluted by subsidiaries operating in similar geographical areas. The same could apply for subsidiaries operating in the same water basin, etc etc. Employee health and safety was given as another example, with limited incidents (while severe for the victim), may be small in number in each subsidiary, but show a pattern and material topic when aggregated for the Group. Companies have geared up long-term programmes to prepare for #CSRD. We at GIST Impact are putting impact data and intelligence at the heart of these programmes to accelerate progress, maximise value opportunities, save costs and de-risk decisions.

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A huge partnership - the GHG Protocol and the IFRS Foundation! Does this solidify the International Sustainability Standards Board (ISSB)'s place as the global sustainability standard setter? I think so, at least as to climate disclosure standards. Recall, the #issb is the organization that has established standards that will form the global baseline for sustainability reporting, harmonizing what had been a fragmented reporting environment. It has started with general and climate disclosure standards and will go on to create standards on other sustainability topics. The #GHGProtocol is the accounting standard that defines how carbon is accounted for and created the concept of Scopes 1, 2, and 3 emissions. This partnership will drive further harmonization in global climate reporting. 💪

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Is #sustainability good for financial performance? KPMG US’s recently launched sustainability whitepaper outlines 21 key indicators that are statistically proven to drive robust financial performance. Tap in: https://ow.ly/NoTz50SoxWq

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Here is an overview of the key methodological trends (overlaps, complementarities) among the private sector assessment and disclosure approaches on nature-related issues. The report has reviewed the following frameworks: ⏩ CDP disclosure system ⏩ European Sustainability Reporting Standards (ESRS) ⏩ Global Reporting Initiative (GRI) Standards ⏩ International Sustainability Standards Board (ISSB) Standards1 ⏩ Natural Capital Protocol ⏩ Science Based Targets Network (SBTN) target setting guidance ⏩ Taskforce on Nature-related Financial Disclosures (TNFD) framework Here are some key findings: ✅ there is a real variability in definitions of materiality across these frameworks, some focus strictly on financial materiality, others encompass environmental and social aspects ✅ there is a growing recognition of the importance of upstream and downstream activities in a company's environmental footprint ✅ the primary focus of these frameworks is on land and freshwater ecosystems, with ocean areas receiving comparatively less attention, although efforts to improve this are noted ✅ most frameworks require companies to consider not just their direct operations but also their value chains when assessing and disclosing nature-related impacts ✅ I was happy to see that the report emphasizes the importance of location-specific information in disclosures, with many approaches recommending the provision of spatial data This is probably most useful to those sitting inside businesses or financial institutions responsible for compliance and reporting, but useful also for the rest of us as we consider standardization and harmonization across efforts. Thanks to UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and the United Nations Environment Programme Finance Initiative (UNEP FI) David Carlin Matt Jones for putting this out. Cudos to #NossaData for compiling the tables in one slide. #sustainability #compliance #reporting #esg #csr #nature

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EFRAG and the Taskforce on Nature-related Financial Disclosures (TNFD) approved the 'correspondence' table between their respective disclosure requirements yesterday. The level of correspondence is high, meaning companies preparing for CSRD are already well on their way to #tnfd, and thereby quickly looking ever-deeper into their nature impacts, dependencies, risks and opportunities. High correspondence between #ESRS and #TNFD is unsurprising (but reassuring!) as developments have been intentionally designed in concert together. The correspondence table also breaks a common misconception that: 'TNFD = Biodiversity = ESRS E4 (Biodiversity and Ecosystems). (i.e. at first glance #TNFD can sometimes be misconstrued as squeezing into only one part of ESRS (E4). Rather, nature and biodiversity are relevant throughout ESRS, especially across E1 - E5, and then have a specific deep-dive ESRS E4 on Biodiversity and Ecosystems. I liked this line from EFRAG: 'Understanding dependencies and impacts on nature is a prerequisite for understanding risks and opportunities to the business'. Or, to put it another way, 'today's externalities are tomorrow's risks and the day after's losses' (Pavan Sukhdev). This calls attention to the inextricable link between business commercial success and nature. GIST Impact uses scientifically-robust data, machine learning, and actual company data on 14,500+ companies, to fast-track CSRD preparations starting with the Double Materiality Assessment (DMA), IRO analysis and gap-filling. Likewise, the same data, and looking deeper, we fast track TNFD preparations across the LEAP process. Get in touch! Thomas Moran Anupam Ravi Mahima Sukhdev GIST Impact Shraddha Mishra (PhD) Sukhman Sandhu Sneha Phalke Dr. Swapna Panda Rishabh Dev Mishra Rose Maria Joseph P.V. Sandeep

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ERM welcomes the adoption of the #CSDDD. It is an important milestone for establishing a level playing field for large EU and non-EU companies on human rights and environmental due diligence. Given the global and interconnected nature of economies and supply chains, #humanrights and #environmental #duediligence will be increasingly critical to companies who seek to deliver genuine #sustainability strategies.

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#PSX has introduced the PSX ESG Primer to encourage listed companies to embrace #ESG (Environmental, Social, and Governance) practices and showcase their performance in these areas. CSRCP has created a reference document to assist companies in incorporating the requirements of the PSX ESG Primer into their sustainability reports, which are prepared in accordance with #GRI (Global Reporting Initiative) standards. https://lnkd.in/dkDh7rWM

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This #EarthDay2024, let us reflect on the importance of environmental conservation and sustainability and raise awareness about the need to protect our natural resources. In line with this year's theme, Planet Vs. Plastic, Capgemini is celebrating mother nature by pledging to reduce single-use plastics. One of the reasons I love working at Capgemini is the progress we've made in tackling #EnvironmentalChallenges. We’re committed to being powered by renewable energy by 2025, helping our clients save 10 million tons of carbon dioxide by 2030, and achieving net-zero emissions by 2040. Learn more about our commitment to a sustainable future here: https://lnkd.in/gSTdhvcG #GetTheFutureYouWant

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This #EarthDay2024, let us reflect on the importance of environmental conservation and sustainability and raise awareness about the need to protect our natural resources. In line with this year's theme, Planet Vs. Plastic, Capgemini is celebrating mother nature by pledging to reduce single-use plastics. One of the reasons I love working at Capgemini is the progress we've made in tackling #EnvironmentalChallenges. We’re committed to being powered by renewable energy by 2025, helping our clients save 10 million tons of carbon dioxide by 2030, and achieving net-zero emissions by 2040. Learn more about our commitment to a sustainable future here: https://lnkd.in/gSTdhvcG #GetTheFutureYouWant

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