The Association of Chartered Certified
Accountants (ACCA) has urged the G20 to make global approach to
sustainability reporting a priority at its next summit in Rio.
Ahead of a G20 United Nations (UN) conference
on sustainable development to be held in June, the ACCA has
published a paper proposing changes to the paragraph 24 of the
discussion-document Zero Draft, concerning the integration
of sustainability information into corporate reports.
ACCA said changes should:
- lead to a commitment by UN member states to
develop mechanisms for sustainability reporting at a national
level, granting flexibility in the mechanisms applied to meet the
standards to allow for country-specific solutions; and - mandate companies to report on a
‘comply-or-explain’ basis to stimulate substantive board
discussions on risks and opportunities arising from sustainable
development.
ACCA head of sustainability Rachel Jackson
said there will be a “need for rigorous and credible arrangements”
whatever the policy outcome is at Rio+20.
“This is where accountants come in – the
profession provides the much needed transparency, measurement and
comparability required for common international reporting,” Jackson
said.
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