Reporting Standards
The Financial Stability Board (FSB) created the TCFD to develop recommendations on the types of information that companies should disclose to support investors, lenders, and insurance underwriters in appropriately assessing and pricing a specific set of risks—risks related to climate change. https://www.fsb-tcfd.org
GRI (Global Reporting Initiative) is the independent, international organization that helps businesses and other organizations take responsibility for their impacts, by providing them with the global common language to communicate those impacts. The GRI Secretariat is headquartered in Amsterdam, the Netherlands, and they have a network of seven regional offices to ensure we support organizations and stakeholders worldwide. www.globalreporting.org
SASB Standards help companies disclose relevant sustainability information to their investors. Available for 77 industries, the SASB Standards identify the sustainability-related risks and opportunities most likely to affect an entity’s cash flows, access to finance and cost of capital over the short, medium or long term and the disclosure topics and metrics that are most likely to be useful to investors. As of August 2022, the International Sustainability Standards Board (ISSB) of the IFRS Foundation assumed responsibility for the SASB Standards. The ISSB has committed to maintain, enhance and evolve the SASB Standards and encourages preparers and investors to continue to use the SASB Standards. https://sasb.org
On 31 July 2023, the European Commission adopted the first set of 12 European Sustainability Reporting Standards (ESRS)*. The ESRS are the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks under the Corporate Sustainable Reporting Directive (CSRD). The ESRS cover the full range of environmental, social, and governance issues, including climate change, biodiversity and human rights. They provide information for investors to understand the sustainability impact of the companies in which they invest. https://www.efrag.org
The Science Based Targets initiative (SBTi) is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments. The SBTi drives ambitious climate action in the private sector by enabling organizations to set science-based emissions reduction targets. https://sciencebasedtargets.org
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