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2022 | OriginalPaper | Buchkapitel

5. Defining, Measuring, and Reporting Sustainability

verfasst von : Molly Scott Cato

Erschienen in: Sustainable Finance

Verlag: Springer International Publishing

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Abstract

Increasingly, reporting the bottom line—i.e. the finances—is not enough. This chapter explains the developing legislation requiring non-financial reporting, especially accounting for Environmental, Social, and Governance (ESG) impacts. This includes the growth in scope and complexity of private-sector guidelines for reporting as well as consideration of the UN Taskforce on Carbon-Related Financial Disclosure and the new EU mandatory disclosure regime. Finally, the chapter looks at the issue of greenwashing and how the EU taxonomy might be able to define what is sustainable in a way that limits or eliminates greenwashing.

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Vorheriges Kapitel Sustainable Finance: The Policy Framework

Nächstes Kapitel The Role of Central and Public Banks

Eunomia (2020), ‘Frameworks for Standards for Non-financial Reporting: Final Report’, BEIS research paper number 2020/052 (London: BEIS).

European Commission: Non-financial Reporting: EU Rules Require Large Companies to Publish Regular Reports on the Social and Environmental Impact of Their Activities. https://ec.europa.eu/info/business-economy-euro/company-reporting-and-auditing/company-reporting/non-financial-reporting_en. Last retrieved: March 15, 2021.

‘Reform of the EU Non-financial Reporting Directive: A Push Towards Future-proof Reporting Obligations’, Full Disclosure: Monthly Briefing on the EU Corporate Transparency Regulation, March 2021. https://germanwatch.org/sites/default/files/Full%20Disclosure%202021-3_Reform%20of%20the%20EU%20Non-financial%20Reporting%20Directive.pdf.

https://ec.europa.eu/info/publications/210421-sustainable-finance-communication_en.

EU Commission (2021), ‘Questions and Answers: Corporate Sustainability Reporting Directive proposal’. https://ec.europa.eu/commission/presscorner/detail/en/QANDA_21_1806.

Monciardini, David, Mähönen, Jukka Tapio and Tsagas, Georgina. (2020), ‘Rethinking Non-Financial Reporting: A Blueprint for Structural Regulatory Changes’, Accounting, Economics, and Law: A Convivium, 10:2. 20,200,092. https://doi.org/10.1515/ael-2020-0092.

For those interested in the pre-history of non-financial reporting, see: Carlos Larrinaga and Jan Bebbington (2021), ‘The Pre-history of sustAinability Reporting: A Constructivist Reading’, Accounting, Auditing & Accountability Journal (May). https://www.emerald.com/insight/content/doi/10.1108/AAAJ-03-2017-2872/full/html.

TCFD (2017), ‘Recommendations of the Task Force on Climate-related Financial Disclosures’. https://assets.bbhub.io/company/sites/60/2020/10/FINAL-2017-TCFD-Report-11052018.pdf.

HM Treasury (2020), A ROADMAP Towards Mandatory Climate-Related Disclosures (London: HMT): https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/933783/FINAL_TCFD_ROADMAP.pdf.

https://www.globalreporting.org/.

https://www.ifrs.org/projects/work-plan/sustainability-reporting/.

Fishman, A. (2021), ‘What You Should Know About potential New International Reporting Standards’, GreenBiz, 19 July. https://www.greenbiz.com/article/what-you-should-know-about-potential-new-international-reporting-standards.

Attracta Mooney (2021), ‘Greenwashing in Finance: Europe’s Push to Police ESG Investing’, FT, 10 March.

de Freitas Netto, S.V., Sobral, M.F.F., Ribeiro, A.R.B. et al. (2020), ‘Concepts and Forms of Greenwashing: a Systematic Review’. Environ Sci Eur 3219. https://doi.org/10.1186/s12302-020-0300-3.

Estel Farrell Roig (2021), ‘Bristol Airport ACCUSED of ‘greenwashing’ by Green councillor After Net Zero Pledge’, Bristol Post, 28 June.

Frédéric Simon (2021), ‘EU Spells Out Criteria for Green Investment in New “Taxonomy” Rules’, Euractiv, 21 April. https://www.euractiv.com/section/energy-environment/news/eu-spells-out-criteria-for-green-investment-in-new-taxonomy-rules/.

Yannis Dafermos, Daniela Gabor, Maria Nikolaidi and Frank van Lerven (2021), ‘Greening the UK FINANCIAL system—A Fit for Purpose Approach’, SUERF Policy Note No, 226:9. https://www.suerf.org/docx/f_55c6017b10a9755ef3681b09ccb01e94_21233_suerf.pdf.

Reclaim Finance (2021), Out with the Science, in with the Lobbyists: Gas, Nuclear and the EU Taxonomy. https://www.Report-EU-taxonomy-Out-with-science-in-with-lobbyists-RF.pdf(reclaimfinance.org).

Harper Ho, Virginia. (2020), ‘Non-Financial Reporting & Corporate Governance: Explaining American Divergence & Its Implications for Disclosure Reform’, Accounting, Economics, and Law: A Convivium, 10:2, 20,180,043. https://doi.org/10.1515/ael-2018-0043.

Trippel, E. (2020), ‘How Green is Green Enough? The Changing Landscape of Financing a Sustainable European Economy’. ERA Forum, 21:155–170. https://doi.org/10.1007/s12027-020-00611-z.

Titel: Defining, Measuring, and Reporting Sustainability
verfasst von: Molly Scott Cato
Verlag: Springer International Publishing
Buch: Sustainable Finance
Print ISBN: 978-3-030-91577-3

Electronic ISBN: 978-3-030-91578-0

Copyright-Jahr: 2022
DOI: https://doi.org/10.1007/978-3-030-91578-0_5

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