Dec 23 2020
FNArena s dedicated ESG Focus news section zooms in on matters Environmental, Social & Governance (ESG) that are increasingly guiding investors preferences and decisions globally. For more news updates, past and future:
It s all hands on deck heading into the fourth industrial revolution, China is in the game, and companies will need the best of the best to survive: well informed and well-heeled ESG investors know it; and sovereign nations are legislating
– ESG funds looking for diversity
– All hands on deck for the fourth industrial revolution
– Legislation rising for boards and senior management
– Rivals gaining jump on sleepy Australia
By Sarah Mills
Sustainability groups come together on prototypes of financial disclosure standards 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.
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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
-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”.