Regulators to align sustainability in company reporting
The IRRC hopes to ease company’s reporting burden through a two-year undertaking to harmonise existing reporting frameworks
As the demand for companies to disclose more non-financial information about their operations and the environments in which they work continues to increase, the International Integrated Reporting Council (IIRC) hopes to ease the burden by aligning the myriad of standards that have to be adhered to. On Wednesday, the IIRC began a two-year undertaking to harmonise existing reporting frameworks used by companies to report non-financial information such as sustainability and environmental impact reports. The council, which is made up of regulators, standards setters, and other bodies, expects to have the initial recommendations on how the existing frameworks can be aligned in the third quarter of 2019. At the moment, there are four main sustainability reporting frameworks that are widely used by companies: reporting emissions; environmental impact; governance; and corporate social responsibility. “Globally, there are more than 200 different standards used by companies. In sustainability...
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