logotype

Contacts

92 Bowery St., NY 10013

thepascal@mail.com

+1 800 123 456 789

Category: Blog en

Blog en

IFRS S1: A Game-Changer in Sustainability Reporting

The International Sustainability Standards Board (ISSB) recently unveiled its first sustainability reporting standard, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information. This marks a significant step towards harmonizing global sustainability reporting.

Key Points of IFRS S1

IFRS S1’s objective is to compel entities to disclose sustainability-related risks and opportunities impacting their financial prospects, including cash flows, access to finance, and cost of capital. This standard applies to all entities following IFRS Sustainability Disclosure Standards, regardless of financial statement preparation under IFRS Accounting Standards.

The core of S1 includes:

  1. Governance: Disclosing governance processes for sustainability oversight.
  2. Strategy: Explaining how sustainability impacts business strategy.
  3. Risk Management: Describing sustainability risk assessment and management.
  4. Metrics and Targets: Reporting on relevant sustainability metrics and targets.

Entities must disclose material information needed by investors for informed decision-making. IFRS S1 also suggests sources for guidance, such as industry-based SASB standards.

Strengths and Benefits of IFRS S1

  1. Global Consistency: S1 offers a global baseline for consistent sustainability reporting across industries and regions, improving comparability.
  2. Financial Materiality: It connects sustainability to financial performance, making it highly relevant to investors.
  3. Flexibility: While setting baseline requirements, S1 allows customization based on business relevance, avoiding a one-size-fits-all approach.
  4. Integration with Financial Reporting: It links sustainability factors with financial statements, demonstrating their impact on financial value.

Potential Limitations of IFRS S1

  1. Scope Limitations: It focuses on sustainability issues with clear financial impacts, potentially excluding broader ESG matters.
  2. Flexibility vs. Comparability: Customization could lead to varying disclosures, reducing comparability.
  3. Identifying Material Risks: Some entities might struggle to identify and disclose their most material sustainability risks.

In summary, IFRS S1 represents a milestone in sustainability reporting. It enhances global consistency, aligns sustainability with financial performance, and offers flexibility. However, it’s not without challenges, such as scope limitations and potential comparability issues.

The success of IFRS S1 depends on widespread adoption and its ability to provide investors with decision-useful information. Stay tuned for further developments as sustainability reporting continues to evolve.

#SustainabilityReporting #IFRS #InvestorRelations #ESG #SustainabilityDisclosure

By 445 Views
Blog en

GSDR 2023: Transforming the World towards Sustainable Development

Introduction:

The United Nations recently released the Global Sustainable Development Report (GSDR) 2023, authored by a group of 15 esteemed scientists. This report serves as a crucial input to Member States’ review of the 2030 Agenda for Sustainable Development, highlighting the progress made and the challenges encountered in achieving the Sustainable Development Goals (SDGs). In this blog, we will explore the key findings and recommendations of the GSDR 2023.

Accelerating Transformation:

The GSDR 2023 builds upon its predecessor, the 2019 GSDR, to provide decision-makers with evidence-based insights on accelerating progress towards sustainable development. At the halfway mark of the 2030 Agenda, the report raises concerns that the world is falling off track, attributing this setback to the lasting impacts of the COVID-19 pandemic, conflicts, inflation, and rising costs of living. It emphasizes the urgent need for transformative action to address these challenges.

Six Crucial Entry Points:

GSDR 2023 focuses on six entry points for transformation that are considered crucial in achieving sustainable development across various SDGs:

  1. Human well-being and capabilities
  2. Sustainable and just economies
  • Sustainable food systems and healthy nutrition patterns
  1. Energy decarbonization with universal access
  2. Urban and peri-urban development
  3. The global environmental commons

The report identifies these entry points as areas where actions can have a significant impact on advancing sustainable development goals.

Leveraging Science for Transformation:

To facilitate transformation, the GSDR 2023 proposes four levers identified in the 2019 report, namely governance, economy and finance, science and technology, and individual and collective action. Additionally, the report introduces capacity building as a fifth lever. It emphasizes the importance of scientific activity outside high-income countries and calls for socially robust science rooted in trust and integrity.

Key Recommendations and Calls to Action:

The GSDR 2023 concludes with a series of recommendations to drive sustainable development:

  1. Elaborating national plans of action to counter negative trends and stagnation in SDG implementation.
  2. Encouraging local and industry-specific planning to contribute to national strategies.
  • Increasing fiscal space through initiatives like tax reforms, debt restructuring, and engagement by international finance institutions.
  1. Investing in SDG-related data, science-based tools, and policy learning.
  2. Strengthening partnerships to enhance the science-policy-society interface.
  3. Implementing measures to improve accountability of governments and stakeholders.
  • Building capacity for transformation at individual, institutional, and network levels is highlighted as crucial, along with implementing synergetic interventions across the six entry points for sustainability transformation.

Collaboration and Transformative Science:

The GSDR 2023 draws on regional and cross-disciplinary perspectives gathered through consultations. The International Science Council (ISC) coordinated the technical review process by the scientific community. It stresses the importance of aligning science, policy, and society to create a future where people and nature thrive together.

Conclusion:

The Global Sustainable Development Report (GSDR) 2023 serves as a vital resource to accelerate progress towards sustainable development. While challenges persist, the report highlights that transformations are not only possible but inevitable. By adopting the recommended strategies and leveraging the six entry points, we can drive positive change and ensure a prosperous future for all.

Turritopsis, alongside its partners, remains committed to advancing sustainable development and incorporating transformative science into decision-making. Let us unite, implement effective measures, and work collectively towards achieving the SDGs and building a sustainable world.

For more information and to access the full GSDR 2023 report, visit:  https://sdgs.un.org/sites/default/files/2023-06/Advance%20unedited%20GSDR%2014June2023.pdf

 

By 345 Views
Blog en

Climate change

Le changement climatique est un phénomène mondial qui a des effets néfastes sur notre environnement, notre santé, notre économie et notre qualité de vie. Dans ce blog, nous allons examiner les risques que le changement climatique présente pour l’économie et discuter des mesures que nous pouvons prendre pour y remédier.

Le changement climatique a des effets dévastateurs sur l’économie mondiale. Les événements climatiques extrêmes tels que les tempêtes, les inondations et les sécheresses ont des conséquences économiques négatives importantes. Les infrastructures critiques, telles que les routes, les ponts, les aéroports, les ports et les réseaux de transport, sont endommagées ou détruites par les tempêtes et les inondations, entraînant des pertes économiques massives.

Les sécheresses et les vagues de chaleur ont des conséquences désastreuses sur l’agriculture, ce qui entraîne une diminution de la production agricole et une augmentation des prix des denrées alimentaires. Les changements climatiques ont également des effets négatifs sur la santé, ce qui entraîne une augmentation des coûts de soins de santé.

Cependant, il est important de noter que le changement climatique n’est pas une fatalité. Nous pouvons prendre des mesures pour réduire ses effets sur l’économie. Voici quelques mesures que nous pouvons prendre :

  1. Investir dans les énergies renouvelables – Les énergies renouvelables telles que l’énergie solaire et éolienne sont de plus en plus accessibles et abordables. En investissant dans ces sources d’énergie, nous pouvons réduire notre dépendance aux combustibles fossiles, qui sont une source majeure d’émissions de gaz à effet de serre responsables du changement climatique.

  2. Promouvoir la recherche et l’innovation – La recherche et l’innovation sont essentielles pour développer de nouvelles technologies et de nouveaux moyens de production d’énergie plus propres et plus durables.

  3. Encourager la coopération internationale – Le changement climatique est un problème mondial qui ne peut être résolu par un seul pays. La coopération internationale est essentielle pour trouver des solutions efficaces.

By 388 Views
Blog en

Scope 3 Greenhouse Gas (GHG) Emissions Disclosure Requirements

The International Society of Sustainability and Business Standards Board (ISSB) has voted to require companies to apply the current version of the GHG Protocol corporate standard for their greenhouse gas emissions. The ISSB will develop relief provisions to help companies apply Scope 3 requirements. This could include giving companies more time to provide Scope 3 information and work with jurisdictions on so-called “safe harbour” provisions.

Clarification of the key concepts of the proposed standard on general requirements

– The ISSB has confirmed that its requirements will aim to meet the information needs of investors.

– The ISSB has also confirmed that it will use the same definition of material as used in IFRS accounting standards and will discuss at a future meeting the need to provide additional guidance on how to determine what is important information.

Facilitate interoperability with jurisdictional requirements

– The ISSB prioritized several key topics for decision-making at its October meeting to facilitate ongoing dialogue with jurisdictions working on specific disclosure requirements, such as the EU, for s ensure that the ISSB’s global sustainability disclosure baseline is interoperable, and expandable, with specific jurisdictional requirements.

– These include confirming the use of the Task Force on Climate-related Financial Disclosures (TCFD) architecture as the basis for its standards, confirming GHG decisions as described above and modifying some transition plan information and wording to facilitate alignment.

Today (Friday 21 October), the ISSB will review its plans to develop SASB standards. This will include deliberating feedback on its proposals to include industry requirements – based on SASB standards – in its proposed climate standard. The ISSB is carefully considering all comments received on its proposals, while being mindful of the request to finalize the standards. Its goal is to complete deliberations on the proposed standards by the end of 2022, in order to publish the final standards as soon as possible in 2023.

If you want to help #promote Sustainable Development with #Turritopsis, contact Us at: turritopsis@turritopsis.org

 

By 437 Views
Blog en

Ashgabat Process: Financing for Better Connectivity

In times of ongoing turbulence, be it conflict, #economic hardship or pandemics, landlocked countries face a unique set of #challenges. Exports are falling sharply and imports are particularly prone to delays and higher costs.

These countries are also more vulnerable to the effects of #climatechange, as natural disasters have huge impacts on transport infrastructure and services.

In order to address such challenges and seek solutions through international cooperation, the Turkmen government organized a two-day conference in collaboration with the United Nations Office of the High Representative for the Least Developed Countries, landlocked developing countries and small island developing States.

Entitled “Ashgabat Process: Financing for Better Connectivity”, the conference took place on August 15-16 in Awaza, in the city of Turkmenbashi, Turkmenistan, and was part of the preparatory process for the #UnitedNations conference on Landlocked Developing Countries, to be held in #2024. High-level representatives from governments, international organizations, the private sector and other stakeholders from more than 30 countries participated, in person and virtually.

Speakers presented on a wide range of topics, from integrated multimodal transport systems to how best to deal with the effects of climate change – as well as best practices for minimizing #environmental damage. Natural disasters, rising temperatures, melting permafrost, desertification and changing rainfall patterns are all factors that have a disproportionate effect on landlocked countries.

The central objective of the conference was to strengthen international cooperation in order to create a sustainable transport framework for the pa

By 369 Views