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ESG Focus: BHP and Rio Defy S in ESG – Part 2
fnarena.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fnarena.com Daily Mail and Mail on Sunday newspapers.
SEC creates task force to enforce ESG disclosures
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Satin Creditcare Network Ltd. ranked 17 Among The Top 100 Best Annual Reports
Posted On: 2021-03-02 08:03:47 (Time Zone: Arizona, USA)
Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404), one of the leading microfinance institutions in the country has garnered the platinum industry spot for its FY19-20 annual report in the Financial - Diversified Services category at the 2019-20 Vision Awards Annual Report Competition, organized by the League of American Communications Professionals (LACP), USA. The annual report also won the Gold spot among the Best Report in the Financial Space. The report earned 99 out of 100 points, making it the 17th Best Annual Report among Top 100 Annual Reports in the world. The event comprised of nearly 1,000 organizations representing more than 20 countries.
The European Commission’s review of the Non-Financial Reporting Directive (NFRD), scheduled for publication shortly, comes at a time of increased scrutiny of both corporates and those who supply them with debt and equity.
NFRD has mandated a non-financial statement for companies with over 5,000 employees since 2017. It introduced the concept of ‘double materiality’ – the effect of sustainability issues on the company as well as of the company on wider society.
The EU is now set to expand the scope of non-financial reporting as a means to encourage sustainable behaviour by companies as part of the European Green Deal and the EU’s 2050 carbon-neutrality target. The aim is to shift capital and resources towards activities outlined in the Taxonomy for Sustainable Activities in support of these objectives, and presumably over time to raise the cost of capital to non-sustainable companies and activities.
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