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By CFO Journal Staff Finance chiefs, bankers and deal advisers say they are turning more optimistic about the economic outlook as Covid-19 vaccines are rolled out across the country. Still, issues such as the pace of the economic recovery, returning to the office and how to operate in this environment remain top of mind for many executives. At the same time, finance leaders are preparing their businesses for key regulatory changes such as the phaseout of the London interbank offered rate or potential new disclosure requirements as a new U.S. administration takes over later this month.
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Sustainability groups come together on prototypes of financial disclosure standards
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Reporting standards in the world of environmental, social and governance investing, long a thicket of competing frameworks, could converge within 12 to 24 months, said Janine Guillot, head of the Sustainability Accounting Standards Board.
Guillot spoke to
Barron’s in a joint interview with Brian Moynihan, CEO of Bank of America, this month. During the interview, Moynihan endorsed the work of SASB, which has a leading framework to report sustainable metrics. He also said that the apparently competing effort by the International Business Council of the World Economic Forum, which he leads, and the Big Four Accounting Firms is misunderstood. “We do endorse SASB,” said Moynihan, who added that his effort was geared to push companies to report on how they were working to achieve the U.N. Sustainable Development Goals, which were established by the U.N. in 2015 to provide a common set of economic, social, and environmental outcomes that member countr