ESG -IFRS, US, Germany MANDATORY Reporting Disclosures!
Mandatory Reporting Disclosures Or Managing Disclosure and Information Gathering-
Dear Chairman and CEO readers!
I want to highlight and highly recommend my Chairman and CEO readers to know more about Mandatory-Reporting-Disclosures information.
Major Global Shift Towards ESG Financial Risks to Climate Disclosures and-
- IFRS global accounting standards – required in 140 plus countries is re-organizing itself, creating a new board incorporating – “Sustainability Reporting” by Nov 2021 time of COP26.
- Yesterday, President Joe Biden signed an executive order directing government agencies to expand their efforts to analyze and disclose economic risks stemming from climate change.
- US SEC The Securities and Exchange Commission (SEC or the Commission) is a series of initiatives reorienting the Commission’s plan to focus on environmental, social, and governance (ESG) issues. In particular, the Commission is gearing up to develop a framework to address ESG disclosures, including climate change risk and diversity and inclusion metrics. According to Chairman Gary Gensler, an ESG disclosure rulemaking is a “top priority.” Accordingly, we expect the Commission could issue a proposed rulemaking regarding such disclosures later this year.
- Germany, the largest economy in Europe, is advancing Mandatory Requirements of Disclosures – Push for Government Issuing Green Bonds. Further adding to the “CSR Directive in the EU.”
- The major difference now is any employer doing business in EU member states, not just companies with 500 employees, public or private!
- A notable measure is the mandating of non-financial corporate reporting. Sustainability reports will have to fulfill certain criteria, such as making company climate risks transparent.
- The reports will also have to be certified by auditors.
- The German government will be making this a part of the upcoming negotiations for an ambitious new CSR Directive in the EU,” it said in a statement.
I am here to help your boardroom.
GBAC Founder & CEO
- Mandatory Reporting Disclosures System
- ESG-IFRS, US, Germany Mandatory-Reporting-Disclosures
- ESG Financial Risks to Climate Disclosures