IFRS Foundation Public Consultation on

Sustainability Reporting

04 December 2020
•
Online Policy Workshop

The livestream of this event is available here: https://www.youtube.com/watch?v=Rbet3aZVkw8

You can download the event programme here

About the event

The IFRS Foundation has launched a public consultation on a global approach to sustainability reporting and on the possible role of the Foundation. They have published a consultation paper. Standardisation and comparability of reporting are critical for capital markets, but also for (empirical) research in accounting, law, finance, economics and related disciplines on sustainability.

The European Corporate Governance Institute (ECGI) and the Impact Economy Foundation are organising a workshop to discuss the consultation document. The workshop will begin with an economic analysis of sustainability reporting. The economic consequences, such as capital market effects and real effects in firm behaviour, will be highlighted. Next, the workshop will review examples of companies that are already providing sustainability reporting on a voluntary basis, and ask what are the benefits and costs?

The workshop will then move to panel discussions centred on the consultation questions. High-level policy makers, academics and practitioners will discuss the consultation questions. The key issues include: standardisation; mandatory vs voluntary reporting; climate change only or other environmental topics such as biodiversity loss also; and single materiality (impact on company's financial value) or double materiality (impact on financial value as well as impact of company on social and environmental value). The workshop will deliver new insights to the IFRS Foundation on these issues as well as inspiration to academics to pursue research in this emerging area, with sustainability now high on the agenda of governments and companies.

Useful links:

Workshop Registration: https://bit.ly/2Uqw4zU

IFRS Consultation document: https://bit.ly/36wy9Qb

All Public Responses to the Consultation: https://bit.ly/38KnbJT

Joint statement of support from the UK government and financial regulators: https://bit.ly/3nxFgPx

Hans Christensen, Luzi Hail, Christian Leuz (2019) Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review

Commentary from BlackRock: https://bit.ly/35t64dn

Submission by Federated Hermes

Open letter from Professors at Saïd Business School, University of Oxford: https://bit.ly/36nAXR6

Article by Bob Eccles & Tim Mohin: We mustn’t miss this crucial moment to create a global Sustainability Standards Board

Article by Richard Barker and Bob Eccles: Investors need to get behind materiality

Article by Bob Eccles and Michael Krzus: https://integratedreporting.org/10-years/robert-eccles