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Almost exactly a year ago in a column I bemoaned the rudimentary nature of the JSE’s environmental, social & governance (ESG) rating system, FTSE Russell, and its patent inability to meaningfully assess key material issues, specifically in the environmental domain. On Monday I sat in on a public consultation on the JSE’s draft “Sustainability & Climate Change Disclosure Guidance”, which is open for comment until month end.

While not set to become a compulsory reporting standard, the guidance is a vast improvement on what has been acceptable reporting practice thus far. It provides guidance and metrics to deliver decision-useful information in line with best practice global initiatives on sustainability and climate change disclosure, including the Global Reporting Initiative’s sustainability reporting standards, the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations and the International Integrated Reporting Council’s international framework...

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