Sustainability

• G20 watchdog says bank climate stress tests may understate exposures

  Many of the tests do not capture 'second round' effects, or impact on banks of climate change hitting the wider economy, the Financial Stability Board found.

• IFAC releases review of corporate disclosures on emissions

  The International Federation of Accountants released “Getting to Net Zero,” a global review of corporate disclosures on emissions targets, analysing the disclosure trends and transition plans of the 40 largest exchange-listed companies in 15 jurisdictions, at the beginning of COP27.

• COP27: Major food companies detail plans to eliminate deforestation by 2025

  The road map launched at the COP27 climate summit in Egypt involves 14 food companies ending deforestation in their supply chains to limit global warming to 1.5 degrees Celsius.

• IPSASB seeks comments on sustainability guidance proposals

  An exposure draft proposes additional guidance on how two previously published Recommended Practice Guidelines can be applied by governments and public sector entities to report on sustainability programme information.

• ISSB vote confirms required use of climate-related scenario analysis

  The International Sustainability Standards Board also said it provided guidance on which climate scenarios an entity should use.

• Global firms urge governments to require mandatory disclosures on nature

  Signatories to the COP15 business statement have combined annual revenues of more than $1.5 trillion.

• Scope 3 GHG emissions will be included in global standards

  The ISSB unanimously confirms that Scope 3 disclosures will be required in the IFRS Foundation’s pending global sustainability standards.

• Preparations pick up for ESG reporting requirements

  Association leaders in the environmental, social, and governance space discuss fast-approaching standards and what finance professionals need to do to prepare.

• London Stock Exchange sets listing rules for carbon cutters

  The rules on voluntary carbon offsets fit with the UK's push to make London a centre for green finance.

• UK regulator sets out net-zero corporate reporting tips

  The Financial Reporting Council Lab identifies three elements that investors want to understand from net-zero disclosures.

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