Tag Archive : Setters

/ Setters

In March of this year I wrote about how to establish a global set of standards for companies to report on their environmental, social, and governance (ESG) performance—or so-called “nonfinancial information.”

I’m pleased to report that significant progress has been made in the past five months.

Key to this achievement is the foundational work of five NGOs (The Five) whose missions are aligned with this goal: CDP, the Climate Disclosure Standards Board (CDSB), the Global Reporting Initiative (GRI), and the Sustainability Accounting Standards Board (SASB), guide the overwhelming majority of ESG disclosure and the International integrated Reporting Council (IIRC) provides the framework for how to connect ESG disclosure to reporting on financial and other capitals.

Their work is particularly critical now, as governments and major accounting bodies are acting on standards. The IFRS and IFAC have recognized the need for mandated standards for nonfinancial information. The EU, in reviewing its

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