Michael Young’s Post

In our latest blog post, we dive into the ISSB's IFRS S2 Climate-related Disclosures and the concept of dual materiality for project-intensive organizations—crucial for 2024 disclosures! Key Takeaways: - Dual Materiality: Consider both financial and environmental/social impacts. - Project Data: Don’t ignore emissions during project lifecycles. Steps for Integration: - Use P5 Impact Analysis for comprehensive assessments. - Establish a Sustainability Management Plan. - Align reporting with IFRS S2 requirements. - Project-intensive sectors, it’s time to enhance compliance and stakeholder trust! Read the full blog to unlock sustainable project management practices. #Sustainability #ProjectManagement #IFRS #ESG #DualMateriality #GPM

In our latest blog post, we dive into the ISSB's IFRS S2 Climate-related Disclosures and the concept of dual materiality for project-intensive organizations—crucial for 2024 disclosures! Key Takeaways: - Dual Materiality: Consider both financial and environmental/social impacts. - Project Data: Don’t ignore emissions during project lifecycles. Steps for Integration: - Use P5 Impact Analysis for comprehensive assessments. - Establish a Sustainability Management Plan. - Align reporting with IFRS S2 requirements. - Project-intensive sectors, it’s time to enhance compliance and stakeholder trust! Read the full blog to unlock sustainable project management practices. #Sustainability #ProjectManagement #IFRS #ESG #DualMateriality #GPM

In my latest blog post, I dive into the ISSB's IFRS S2 Climate-related Disclosures and the concept of dual materiality for project-intensive organizations—crucial for 2024 disclosures! Key Takeaways: - Dual Materiality: Consider both financial and environmental/social impacts. - Project Data: Don’t ignore emissions during project lifecycles. Steps for Integration: - Use P5 Impact Analysis for comprehensive assessments. - Establish a Sustainability Management Plan. - Align reporting with IFRS S2 requirements. - Project-intensive sectors, it’s time to enhance compliance and stakeholder trust! Read the full blog to unlock sustainable project management practices. #Sustainability #ProjectManagement #IFRS #ESG #DualMateriality #GPM

In our latest blog post, we dive into the ISSB's IFRS S2 Climate-related Disclosures and the concept of dual materiality for project-intensive organizations—crucial for 2024 disclosures! Key Takeaways: - Dual Materiality: Consider both financial and environmental/social impacts. - Project Data: Don’t ignore emissions during project lifecycles. Steps for Integration: - Use P5 Impact Analysis for comprehensive assessments. - Establish a Sustainability Management Plan. - Align reporting with IFRS S2 requirements. - Project-intensive sectors, it’s time to enhance compliance and stakeholder trust! Read the full blog to unlock sustainable project management practices. #Sustainability #ProjectManagement #IFRS #ESG #DualMateriality #GPM

In our latest blog post, we dive into the ISSB's IFRS S2 Climate-related Disclosures and the concept of dual materiality for project-intensive organizations—crucial for 2024 disclosures! Key Takeaways: - Dual Materiality: Consider both financial and environmental/social impacts. - Project Data: Don’t ignore emissions during project lifecycles. Steps for Integration: - Use P5 Impact Analysis for comprehensive assessments. - Establish a Sustainability Management Plan. - Align reporting with IFRS S2 requirements. - Project-intensive sectors, it’s time to enhance compliance and stakeholder trust! Read the full blog to unlock sustainable project management practices. #Sustainability #ProjectManagement #IFRS #ESG #DualMateriality #GPM

In our latest blog post, we dive into the ISSB's IFRS S2 Climate-related Disclosures and the concept of dual materiality for project-intensive organizations—crucial for 2024 disclosures! Key Takeaways: - Dual Materiality: Consider both financial and environmental/social impacts. - Project Data: Don’t ignore emissions during project lifecycles. Steps for Integration: - Use P5 Impact Analysis for comprehensive assessments. - Establish a Sustainability Management Plan. - Align reporting with IFRS S2 requirements. - Project-intensive sectors, it’s time to enhance compliance and stakeholder trust! Read the full blog to unlock sustainable project management practices. #Sustainability #ProjectManagement #IFRS #ESG #DualMateriality #GPM

ESG reporting standards are guidelines that help companies measure and disclose their environmental, social, and governance (ESG) performance to investors and other stakeholders. ESG reporting standards aim to improve the transparency, comparability, and reliability of ESG information, and to support sustainable value creation and risk management. There are many ESG reporting standards in the market, such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the Integrated Reporting Framework. However, these standards are often voluntary, inconsistent, or overlapping, which creates confusion and complexity for both reporters and users of ESG information. To address this challenge, the International Financial Reporting Standards (IFRS) Foundation announced the creation of the International Sustainability Standards Board (ISSB) in October 2021. The ISSB will develop a set of global sustainability standards that will focus on information that is material to investors and other capital providers. The ISSB will build on the work of existing standard setters, such as TCFD and SASB, and will collaborate with other organizations, such as the European Financial Reporting Advisory Group (EFRAG) and the World Economic Forum (WEF), to achieve convergence and harmonization of ESG reporting standards 123. ESG reporting standards are expected to become more mandatory, consistent, and comprehensive in the near future, as regulators, investors, and society demand more accountability and transparency from companies on their ESG impacts and performance. Companies should prepare for this change by assessing their current ESG reporting practices, identifying gaps and opportunities, and engaging with relevant stakeholders to understand their expectations and needs.

Japan Releases Proposed IFRS-Based Sustainability Reporting Standards - The Sustainability Standards Board of Japan (SSBJ) announced the release of new exposure drafts for proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The release of the exposure drafts marks the latest in a series of steps that may see Japanese listed companies facing mandatory standardized sustainability-related disclosure requirements. Over the past few years, regulators and exchanges in Japan have been increasingly raising the sustainability disclosure bar for companies, with the Tokyo Stock Exchange in 2021 revising the corporate governance code with a requirement for prime market-listed companies to begin providing climate-related disclosures based on the TCFD recommendations, and to report on sustainability initiatives on a ‘comply-or-explain’ basis, and the Financial Services Agency (FSA) implementing rules last year mandating the creation of a sustainability-related information section in the annual filings for all listed companies, with required disclosures covering governance, risk management, strategy, and indicators and targets. The ISSB was launched in November 2021 at the COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards, driven by demand from investors, companies, governments and regulators to provide a global baseline of disclosure requirements enabling a consistent understanding of the effect of sustainability risks and opportunities on companies’ prospects. The IFRS released the inaugural general sustainability (IFRS S1) and climate (IFRS S2) reporting standards in June 2023, and in July, IOSCO, the leading international policy forum and standards setter for securities regulators called on regulators to incorporate the standards into their sustainability reporting regulatory frameworks. The SSBJ was formed in 2022 under Japan’s Financial Accounting Standards Foundation (FASF) in order to develop sustainability reporting standards, in line with a legal framework to be developed by the FSA, and to contribute to international sustainability reporting standards, following the launch of the ISSB. According to the SSBJ, the new exposure drafts were developed under the assumption that reporting according to the sustainability-related disclosure standards will eventually become mandatory in Japan. The new SSBJ proposals are closely aligned with the ISSB’s sustainability and climate reporting standards, while incorporating a few jurisdiction-specific options that companies may apply, although the SSBJ released the standards as three exposure drafts, as opposed to the ISSB’s two standards, by dividing IFRS 1 (general sustainability) into two standards, including an “Application of the Sustainability Di

Japan Releases Proposed IFRS-Based Sustainability Reporting Standards - The Sustainability Standards Board of Japan (SSBJ) announced the release of new exposure drafts for proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The release of the exposure drafts marks the latest in a series of steps that may see Japanese listed companies facing mandatory standardized sustainability-related disclosure requirements. Over the past few years, regulators and exchanges in Japan have been increasingly raising the sustainability disclosure bar for companies, with the Tokyo Stock Exchange in 2021 revising the corporate governance code with a requirement for prime market-listed companies to begin providing climate-related disclosures based on the TCFD recommendations, and to report on sustainability initiatives on a ‘comply-or-explain’ basis, and the Financial Services Agency (FSA) implementing rules last year mandating the creation of a sustainability-related information section in the annual filings for all listed companies, with required disclosures covering governance, risk management, strategy, and indicators and targets. The ISSB was launched in November 2021 at the COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards, driven by demand from investors, companies, governments and regulators to provide a global baseline of disclosure requirements enabling a consistent understanding of the effect of sustainability risks and opportunities on companies’ prospects. The IFRS released the inaugural general sustainability (IFRS S1) and climate (IFRS S2) reporting standards in June 2023, and in July, IOSCO, the leading international policy forum and standards setter for securities regulators called on regulators to incorporate the standards into their sustainability reporting regulatory frameworks. The SSBJ was formed in 2022 under Japan’s Financial Accounting Standards Foundation (FASF) in order to develop sustainability reporting standards, in line with a legal framework to be developed by the FSA, and to contribute to international sustainability reporting standards, following the launch of the ISSB. According to the SSBJ, the new exposure drafts were developed under the assumption that reporting according to the sustainability-related disclosure standards will eventually become mandatory in Japan. The new SSBJ proposals are closely aligned with the ISSB’s sustainability and climate reporting standards, while incorporating a few jurisdiction-specific options that companies may apply, although the SSBJ released the standards as three exposure drafts, as opposed to the ISSB’s two standards, by dividing IFRS 1 (general sustainability) into two standards, including an “Application of the Sustainability Di

Japan Releases Proposed IFRS-Based Sustainability Reporting Standards - The Sustainability Standards Board of Japan (SSBJ) announced the release of new exposure drafts for proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The release of the exposure drafts marks the latest in a series of steps that may see Japanese listed companies facing mandatory standardized sustainability-related disclosure requirements. Over the past few years, regulators and exchanges in Japan have been increasingly raising the sustainability disclosure bar for companies, with the Tokyo Stock Exchange in 2021 revising the corporate governance code with a requirement for prime market-listed companies to begin providing climate-related disclosures based on the TCFD recommendations, and to report on sustainability initiatives on a ‘comply-or-explain’ basis, and the Financial Services Agency (FSA) implementing rules last year mandating the creation of a sustainability-related information section in the annual filings for all listed companies, with required disclosures covering governance, risk management, strategy, and indicators and targets. The ISSB was launched in November 2021 at the COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards, driven by demand from investors, companies, governments and regulators to provide a global baseline of disclosure requirements enabling a consistent understanding of the effect of sustainability risks and opportunities on companies’ prospects. The IFRS released the inaugural general sustainability (IFRS S1) and climate (IFRS S2) reporting standards in June 2023, and in July, IOSCO, the leading international policy forum and standards setter for securities regulators called on regulators to incorporate the standards into their sustainability reporting regulatory frameworks. The SSBJ was formed in 2022 under Japan’s Financial Accounting Standards Foundation (FASF) in order to develop sustainability reporting standards, in line with a legal framework to be developed by the FSA, and to contribute to international sustainability reporting standards, following the launch of the ISSB. According to the SSBJ, the new exposure drafts were developed under the assumption that reporting according to the sustainability-related disclosure standards will eventually become mandatory in Japan. The new SSBJ proposals are closely aligned with the ISSB’s sustainability and climate reporting standards, while incorporating a few jurisdiction-specific options that companies may apply, although the SSBJ released the standards as three exposure drafts, as opposed to the ISSB’s two standards, by dividing IFRS 1 (general sustainability) into two standards, including an “Application of the Sustainability Di