Strategic Focus: The Future Of Voluntary Sustainability Reporting
12 Jun, 2023
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Executive Summary
Despite looming ESG disclosure regulations, support for voluntary sustainability reporting remains high on the corporate agenda. This report provides chief sustainability officers (CSOs) with an overview of the current work by the International Sustainability Standards Board (ISSB) to create a global baseline for voluntary sustainability reporting, as well as guidance on how corporates can manage voluntary and regulated reporting side by side.
Interoperability between voluntary and mandatory reporting standards is the critical success factor
The ISSB’s objective is a global reporting baseline, not standardization
Corporate appetite for voluntary reporting remains high
Corporates will continue to juggle voluntary and mandatory reporting for the foreseeable future
The ISSB’s objective is a global reporting baseline, not standardization
Corporate appetite for voluntary reporting remains high
Corporates will continue to juggle voluntary and mandatory reporting for the foreseeable future
Figure 1. Formation of the ISSB standards
Figure 2. Interoperability table of major standards
Figure 3. ESG and sustainability processes funding priorities
Figure 2. Interoperability table of major standards
Figure 3. ESG and sustainability processes funding priorities
Task Force on Climate-related Financial Disclosures (TCFD), Goldman Sachs, EY, University of Oxford, Microsoft, Alphabet, Position Green, KPMG, Workiva, European Financial Reporting Advisory Group (EFRAG), Kirkland & Ellis, Global Reporting Initiative (GRI), International Sustainability Standards Board (ISSB), KKR, AXA, Taskforce on Nature-related Financial Disclosures (TNFD), CDP (Carbon Disclosure Project), European Commission, SLR Consulting, WSP, International Accounting Standards Board (IASB), European Corporate Governance Institute (ECGI), ERM, International Financial Reporting Standards Foundation (IFRS), DuPont, KKS Advisors, European Central Bank (ECB), LinkedIn, Halliburton, Sphera, GRESB, Sustainability Accounting Standards Board (SASB), pulsESG, Climate Disclosure Standards Board (CDSB), World Economic Forum (WEF), Integrated Reporting (IR) Framework, US Securities and Exchange Commission (SEC), Deloitte, FigBytes, Value Reporting Foundation (VRF), Unilever, PwC, Cognizant, Said Business School, NASDAQ
About the Authors
Luke Gowland
Senior Analyst
Luke is a Senior Analyst in the Verdantix ESG & Sustainability practice. His current research agenda focuses on the ESG reporting and data management landscape, as well as…
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Kim Knickle
Research Director, ESG & Sustainability
Kimberly Knickle is Research Director of the ESG & Sustainability practice at Verdantix. Her research areas encompass ESG regulations and reporting, ESG risk, supply chain…
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