The Corporate Reporting Dialogue (CRD) has launched a six week market consultation to gather views from stakeholders on how to drive better alignment of sustainability reporting frameworks, as well as with frameworks that promote integration between non-financial and financial reporting.
According to the CRD: “Through this new project, participants will map their respective sustainability standards and frameworks to identify the commonalities and differences between them, jointly refining and continuously improving overlapping disclosures and data points to achieve better alignment, taking into account the different focuses, audiences and governance procedures. Participants will identify how non-financial metrics relate to financial outcomes and how this can be integrated in mainstream reports.”
The consultation was launched with two webinars, which outlined the consultation process and included insights from report preparers and users on how to navigate the corporate reporting system.
Participants in the project are: the Climate Disclosure Standards, Board, the Global reporting Initiative, the International Integrated Reporting Council, the Sustainability Accounting Standards Board and CDP.
The Better Alignment Project’s global stakeholder consultation period will run until May 2019. The consultation process includes an online survey and regional stakeholder engagement roundtables held in locations around the world up until the end of May 2019.
Information gathered from the consultation period will inform an initial report due for publication in September 2019, showing the linkages of the TCFD recommendations with the respective frameworks and the linkages between the frameworks. It will also inform potential areas for CRD participants to focus on going forwards as we drive better alignment.
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