HLB Mann Judd’s Post

We’re already seeing big shifts in global and local sustainability standards and other regulatory changes this year, all intended to pave the way for a clearer and more sustainable future. In our February 2024 edition of Corporate Reporting Insights, we’re committed to empowering you and your business with the knowledge and tools needed to achieve financial transparency and sustainability. This month, you can familiarise yourself with an updated version of our publication, Accounting guidance in times of uncertainty, which includes three additional areas to consider. Plus, learn what the five key strategic sustainability drivers are in 2024. Check out our latest edition now. #CorporateReporting #IFRS #FinancialReporting #SustainabilityReporting

Non-financial reporting is evolving beyond glossy, marketing-led Corporate Sustainability Reports. Many CSR's lack specific, measurable targets, strategies, or results achieved. At the same time, mandatory reporting requirements are increasing across non-financial assets, requiring significant investment and work from companies to comply. Europe alone has introduced several Directives and laws, including CSRD, CSDDD, EUDR, ECHR, and the European Battery Directive, all intertwined. To manage both financial and non-financial reporting systems with audit and assurance, companies need two major systems. That's where Speeki comes in, at the heart of the non-financial reporting revolution. #nonfinancialreporting #esg #sustainability #compliancemanagement #csrd #sasb #esrs #ifrs

The AASB (Australian Accounting Standards Board) has now published the Australian Sustainability Reporting Standards. AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information [voluntary] https://lnkd.in/g6J4RkGe AASB S2 Climate-related Disclosures [mandatory for certain entities from 1 Jan 2025] https://lnkd.in/gf5quxdQ If you need help with data and technology strategy, implementation, and governance, say [email protected]. #ESG #ClimateReporting #SustainabilityReporting #DataGovernance

The climate/sustainability reporting standards are now published. Are you just looking to comply, or seek to have competitive advantage? I'm here to help either way. Say [email protected] #ESG #ClimateReporting #SustainabilityReporting #DataGovernance

The Financial Conduct Authority (FCA) has set up an industry led working group, the Advisers’ Sustainability Group, to focus on enhancing #sustainablefinance capabilities within the financial advice sector. We provide the Secretariat and the FCA sits as an active observer - https://pimfa.cc/tPtwz Led by Daniel Godfrey (Chair) and Julia Dreblow (Vice-Chair), the Group is tasked by the FCA with developing guidance for good practice to help #FinancialAdvisers include consideration of long-term #sustainability risks in their #financialplanning and, where it meets client needs, to support them in the incorporation of #sustainableinvestment related activities. The Group is currently focused on four main areas: 👉sustainability issues,👍good practice,👌regulation and training and is seeking opinions and suggestions via two surveys published on the Advisers’ Sustainability Group’s pages on our website. The aim is to ensure that the Group hears a balanced representation of views from across the advice sector and its clients on the issues the Group should consider, how to approach them, what good looks like - and any other suggestions. To share your views, please go here for Survey 1 - https://pimfa.cc/C8tIU and here for Survey 2 - https://pimfa.cc/oJs47 If you have any queries, please contact our Senior Policy Adviser, Maja Erceg.

For those interested in the progression of Australia's sustainability reporting regime, here's a little teaser.

CA ANZ and CPA Australia have jointly responded to the Australian Accounting Standards Board’s exposure draft on Australian Sustainability Reporting Standards. “International alignment is pivotal to allow Australian entities to maintain their place in the global reporting ecosystem. It is also important that proportionality of climate-related financial reporting in Australia is considered.” Karen McWilliams FCA, Sustainability and Business Reform leader. #CAANZ #Sustainability #ClimateDisclosure #ClimateChange

This month’s Corporate Reporting Insights covers significant developments shaking up the corporate reporting landscape. Consolidated entity disclosure statement requirement: Public companies must now include a consolidated entity disclosure statement in their annual reports. Implementation of mandatory climate reporting: We feature important details about the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill, aimed at mandating climate reporting. Despite a delay in the start date for Group 1 entities by at least six months, this initiative marks a significant step towards addressing climate risks. Read this edition for the latest updates and ensure you’re ahead in your financial and sustainability reporting efforts. #IFRS #CorporateReporting #FinancialReporting #SustainabilityReporting

Soon entities will be required to report under Chapter 2M of the Corporations Act 2001 their sustainability performance: The Australian Accounting Standards Board (AASB) unveiled its Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information, proposing vital climate-related financial disclosure requirements. Rooted in international standards like IFRS S1 and IFRS S2, the two draft Australian Sustainability Reporting Standards aim to provide much-needed clarity for disclosing entities in the Australian market. Open for public comment until March 1, 2024, these standards mark a crucial step towards standardized reporting, prompting disclosing entities and insurers to strategically navigate key considerations before their imminent introduction. This transformative initiative signifies the AASB's commitment to fostering transparency, sustainability, and accountability in corporate financial reporting.

Global sustainability reporting is here. But how do you articulate clearly what you’re doing in key ESG areas? The global ESG reporting landscape is transforming, with corporate activity set to be highly scrutinized under new sustainability reporting standards. Investors and stakeholders have high expectations for the quality of these ESG disclosures. The below link provides KPMG insight, high-level guidance and detailed analysis to help inform your reporting strategy.