CFO2315. ESG: Implementation Implications of Reporting Requirements

Increasing concerns about ESG issues range from climate-related droughts and disasters, to diversity, equity, inclusion, as well as employee health and well-being. These increasing concerns have translated into broader expectations of businesses to address these issues, and to report on them. These expectations are not limited to requirements imposed by regulators, but also include demands by investors, private equity providers, banks and other financial institutions. Financing around the globe is increasingly being linked to progress on various ESG targets or measures.

In terms of reporting, the initial two global standards developed by the International Sustainability Standards Board (ISSB) are scheduled for launch in June 2023. In the U.S., the final SEC rule on GHG disclosures is expected to also be released mid-year. In the EU, the Corporate Sustainability Reporting Directive (CSRD), has a comprehensive suite of European Sustainability Reporting Standards (ESRS) in the final stages of review and approval. Also expected in 2023 is the release of the final Task Force on Nature-related Financial Disclosures (TNFD) framework designed to address biodiversity concerns.

This session will provide an overview of the rapidly developing ESG landscape, along with examples of initiatives by leading companies to develop and implement internal strategies to meet the ESG goals of their organizations.

Learning Objectives:

• Identify the key components of the sustainability landscape and the potential impact on your business
• Analyze the critical concepts and timelines of the key standards, regulations, and reporting frameworks
• Determine a plan for designing, implementing, and monitoring an ESG accounting and reporting program that is suitable for your organization