-The quest for financial materiality gathers pace
-World governments may finally be on the same page
-Corporations can be held legally liable for ESG reporting accuracy
By Sarah Mills
Just weeks after the election of Joe Biden, it has been announced that the Sustainability Accounting Standards Board and the International Integrated Reporting Council (IIRC) will merge into one global organisation called the Value Reporting Foundation (VRF).
The merger is expected to create the most comprehensive corporate global sustainability framework to date and will be completed by mid-2021.
Backed by international legislation, it will cast social disclosure nets around the world to ensure that the massive covid stimulus and ESG dollars being directed towards investments that support environmental and social aims is finding its mark; and to battle greenwashing and “social washing”.
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Digital transformation and sustainability have evolved over the years, but even amid the ongoing COVID-19 pandemic, this presents an opportunity for companies to accelerate their adoption of digital technologies and keep sustainability initiatives at the top of their priority lists.
These two trends will converge within an organization from clean technologies to green production processes to transforming a company’s brand as a sustainable company. While attention to these is generally focused on them individually, less attention, however, is directed to understanding how these trends combine in reshaping how an organization can operate profitably.
IFAC endorses international sustainability standard-setting board accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
BlackRock Frontiers Investment Trust NAV increased by 27.9% since financial year end 7:31 am
BlackRock Frontiers Investment Trust plc (LON:BRFI) has announced its annual results for the year ended 30 September 2020.
OVERVIEW AND PERFORMANCE
Performance record
The Company’s financial statements are presented in US Dollars. The Company’s shares are listed on the London Stock Exchange and quoted in UK Pounds Sterling. The Sterling amounts for performance returns shown below are presented for convenience. The difference in performance returns measured in US Dollars and UK Pounds Sterling reflects the movements in the exchange rate over the period.
126.85
2 (cents)
2 (pence)
93.30
4
5,6
6
4
4
5,6
6
4
========
1 The change in net assets reflects shares issued/bought back in the year, dividends paid and market movements.
December 9, 2020 Simon Robinson, Director – Product Management at Moody’s Analytics
THOUGHT LEADERSHIP Moody s Analytics
The progress of industrial revolutions rarely follows a neat, linear path. Instead, we typically see periodic spikes of innovation, prompted by some external factor, followed by the introduction of standardized manufacturing processes yielding greater productivity and efficiency, and leading to a step change in industry norms. While images of smoking chimneys may not immediately resonate with the concept of ESG investment, there are many parallels. We find ourselves on the cusp of a period of transformation in this area specifically in how ESG investment is managed and supported.