Janine Hofer-Wittwer, CFA

𝐄𝐅𝐑𝐀𝐆 𝐑𝐞𝐥𝐞𝐚𝐬𝐞𝐬 𝐓𝐰𝐨 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐆𝐮𝐢𝐝𝐞𝐬 𝐚𝐧𝐝 𝐄𝐒𝐑𝐒 𝐃𝐚𝐭𝐚 𝐏𝐨𝐢𝐧𝐭𝐬 𝐋𝐢𝐬𝐭 On May 31, 2024, EFRAG published final guides for applying the European Sustainability Reporting Standards (ESRS) and a comprehensive list of ESRS data points. These documents, initially drafted in December 2023 and subjected to public consultation, aim to assist users in implementing ESRS. 𝐓𝐡𝐞 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐠𝐮𝐢𝐝𝐞 (EFRAG IG 1) covers the concept of double materiality, the process of materiality analysis and Stakeholder involvement. https://lnkd.in/eg9qU_yT 𝐓𝐡𝐞 𝐯𝐚𝐥𝐮𝐞 𝐜𝐡𝐚𝐢𝐧 𝐠𝐮𝐢𝐝𝐞 (EFRAG IG 2) includes the definition of the value chain, Reporting impacts, risks, and opportunities, Data collection processes. https://lnkd.in/ef8Hgp-z 𝐓𝐡𝐞 𝐄𝐒𝐑𝐒 𝐝𝐚𝐭𝐚 𝐩𝐨𝐢𝐧𝐭𝐬 𝐥𝐢𝐬𝐭 (EFRAG IG 3) details all disclosure and application requirements. https://lnkd.in/ehXewgKX BDO Germany Carmen Auer Viola Moeller Inna Disser Albert-Jan Knol Sabrina Alam Susanne De Zordi Bernkopf Johannes Helke

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🔍 𝗧𝗡𝗙𝗗 𝗮𝗻𝗱 𝗘𝗙𝗥𝗔𝗚 𝗣𝘂𝗯𝗹𝗶𝘀𝗵 𝗖𝗼𝗿𝗿𝗲𝘀𝗽𝗼𝗻𝗱𝗲𝗻𝗰𝗲 𝗠𝗮𝗽𝗽𝗶𝗻𝗴 The Taskforce on Nature-related Financial Disclosures (TNFD) and the European Financial Reporting Advisory Group (EFRAG) have published a correspondence mapping. This document aligns financial disclosure standards with sustainability metrics, facilitating compliance with reporting requirements for companies. ✔️𝗞𝗲𝘆 𝗣𝗼𝗶𝗻𝘁𝘀: - Standards Integration: Connects TNFD and EFRAG disclosure standards. - Facilitates Compliance: Helps companies meet reporting requirements. - Enhances Transparency: Improves the quality and comparability of disclosed information. #Sustainability #Transparency #Finance #TNFD #EFRAG

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The EU's Corporate Sustainability Reporting Directive (CSRD) is set to reshape the global corporate reporting landscape. Many Swiss companies doing business in the EU bloc are directly or indirectly affected by CSRD and need to prepare accordingly. Read the full newsletter by our authors Andreas Hösli and Daniel Dedeyan here: https://lnkd.in/dwwmHjQd #ESGUpdate #ESGLaw #WalderWyssNewsletter

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If you want or need to apply both the #ISSB Standards and #ESRS we prepared our Interoperability Guidance for you!  Please take the time to look at it – it can save you time and money. It explains how our work on interoperability can help you. It is possible for ISSB climate disclosures to be used in ESRS reporting (and vice versa). ISSB/SASB Standards can be used to provide industry-specific information for ESRS reporting while ESRS can be used to report beyond climate applying IFRS S1. The Guidance tells you how.   📑 Download the Interoperability Guidance here: https://lnkd.in/eTuxkN6k ▶ Listen to the recording of the EFRAG-ISSB event on 23 May 2024: https://lnkd.in/eTBzaUkc #ISSBStandards #IFRSSustainability

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Have you heard about the latest #sustainability reporting requirements for Swiss companies? The Federal Council has launched a consultation to expand sustainability reporting obligations for Swiss companies. Key updates include ⬇️ 1. The threshold for companies reporting is reduced from 500 to 250 employees. This increases the number of companies needing to report under Article 964 from 300 to around 3,500. 2. Sustainability reporting will now require external verification by an auditing company or a conformity assessment body. 3. Reporting standards will need to further align with the EU or equivalent international sustainability standards. This will be later specified by the Federal Council in a dedicated Ordinance. 4. The “comply or explain” clause will no longer be allowed. 5. The terminology for reporting will shift from “non-financial matters” to "sustainability aspects" If your organisation meets two of these three criteria for two consecutive years - 250 employees, CHF 25 million in total assets, and CHF 50 million in sales - you will likely need to report. The consultation period runs until 17 October 2024. More details available here ➡️ https://deloi.tt/3VLd9iq We can help you understand how these changes could affect your company, its reporting responsibilities, and support you in effectively managing any of your regulatory challenges. Discover our sustainability services ➡️ https://deloi.tt/3XSSlbc

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The European Financial Reporting Advisory Group (EFRAG) and the Task Force on Nature-related Financial Disclosures (TNFD) publishes a correspondence mapping for sustainable disclosure standards, aiming to illustrate the relationship between European Sustainability Reporting Standards (ESRS) and TNFD recommendations #esg #esginvesting

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ISS ESG Unveils Enhanced Modern Slavery Solution for Improved Investor Monitoring and Reporting Till Jung #ESGReporting #ESGInvesting #SustainabilityInvesting #Impact #Business

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Swiss companies, are you ready for stricter sustainability disclosures? New proposals could bring significant changes to corporate reporting requirements. The Swiss government has launched a consultation on new proposals to align its corporate sustainability governance rules with international standards, particularly the EU’s CSRD. Here's a quick breakdown of the major points. The new Swiss proposal would introduce sustainability reporting requirements to companies with: ➡️ 250 employees ➡️ CHF 25 million (€26 million) in total assets ➡️ CHF 50 million (€52 million) in sales The number of companies affected would increase from 300 to approximately 3,500. The disclosure standards would be stricter, requiring companies to report on risks related to the environment, human rights, and corruption, with a mandate for external assurance of these disclosures. Companies would have the option to use either the EU standard or another equivalent standard for sustainability reporting. The government is exploring ways to help companies manage the costs of compliance. Additionally, the Federal Council will study the impact of the EU’s CS3D on Swiss companies, with an external study planned for later this year to determine further steps. These proposals aim to improve transparency and corporate responsibility, ensuring Swiss companies align with international sustainability standards. Do you need reliable data for your sustainability report? Send us a DM. #Sustainability #Switzerland #EU #CSRD #CorporateResponsibility 

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✨ An important milestone for those working in building circular economies; ISO has published the #CircularEconomy standards! https://lnkd.in/dcVVzuGT Thanks to the global efforts of thousands looking to effect systemic change every day, there was a context. Thanks to the focused efforts of several looking to optimize and standardize these well-meaning intentions we now have mechanisms to better measure their impact. While there was no small number of independent, local and regional measurements, the publication of standards from such a reputable organization will help compare and contrast efforts, gauge effectiveness of initiatives when replicated, and facilitate coordination on broader scale between actors. Congratulations to all those involved in the publication of these standards, I look forward to seeing their impact. #sustainability #management #leadership

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📢 The ESG Guide published by the Deutsche Börse Group contains very useful information to understand the basic concepts and processes in #sustainability reporting. 

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🎥 The Carbon Exposure Project is back for Season 2! For Episode 1, I was fortunate to speak with Lorna Ritchie - Director of Public Affairs at the The Integrity Council for the Voluntary Carbon Market (ICVCM). Since we shot this episode in Florence during the IETA European Climate Summit in mid April, there have been some terrific updates. In May, The Integrity Council Governing Board approved two additional programmes: 1. The Verified Carbon Standard (VCS, operated by Verra) the world’s largest carbon-crediting program, and 2. The Architecture for REDD+ Transactions (ART)+, operated by Winrock International) program. These programs join ACR at Winrock International, Climate Action Reserve (CAR) and Gold Standard, as the CCP-Eligible Programs under the ICVCM. Together these five programs have a 98% share of the voluntary carbon market! The next crucial step involves assessing the methodologies used by CCP-Eligible programs to issue CCP-labeled credits. Over 100 methodologies across 29 categories are being evaluated, representing more than half the volume of credits in the market. This thorough process, following the Integrity Council's "two-tick" approach, aims to ensure that only approved methodologies generate credits labeled with CCP. The Governing Board anticipates announcing the first methodologies meeting CCP standards in June, signalling the imminent entry of CCP-labeled credits into the market. The episode can be watched and listened to on YouTube and Spotify: YouTube: https://lnkd.in/eudYyJKF Spotify: https://lnkd.in/egAZ8mXS Enjoy the episode! #vcm #icvcm #integrity #carbonmarkets #netzero

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#news EFRAG PUBLISHES PAPER ADDRESSING INTERPLAY OF CONNECTIVITY AND ANNUAL REPORT BOUNDARIES Last week, the European Financial Reporting Advisory Group (EFRAG) issued a paper titled "Connectivity Considerations and Boundaries of Different Annual Report Sections," as part of EFRAG’s research initiative on the convergence between financial and sustainability reporting. The document examines the burgeoning concept of connectivity, recently integrated into mandatory sustainability reporting frameworks such as the European Sustainability Reporting Standards (ESRS) and the IFRS Sustainability Disclosure Standards. It details the theoretical underpinnings, categories, and advantages of connectivity, emphasizing the necessity for coherence and complementarity in annual reports. Connectivity endeavors to bridge the typically segregated areas of financial and sustainability reporting, thereby preventing redundant disclosures and addressing informational deficiencies. The paper investigates the ambiguous aspects of reporting boundaries, such as climate-related commitments and unrecognized intangibles, and proposes measures to mitigate these challenges. Recommendations include the implementation of XBRL tagging, the development of a conceptual framework for sustainability reporting, and the enhancement of management commentary guidelines. Jens Berger, Chairman of the EFRAG Connectivity Advisory Panel, and Leo van der Tas, Subgroup Leader, highlighted the paper’s significance in elucidating the concept of connectivity and its advantages. This resource will assist stakeholders in comprehending the interaction between various sections of annual reports, thereby fostering transparency. #EFRAG #Financial #reporting #xbrl https://lnkd.in/ghqAAy4B

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𝑪𝒍𝒊𝒎𝒂𝒕𝒆 𝑭𝒊𝒏𝒂𝒏𝒄𝒆 𝑵𝒆𝒆𝒅𝒔 𝑴𝒐𝒓𝒆 𝑻𝒉𝒂𝒏 𝑱𝒖𝒔𝒕 𝑷𝒓𝒐𝒋𝒆𝒄𝒕𝒔: 𝑮𝒆𝒕𝒕𝒊𝒏𝒈 𝑷𝒐𝒍𝒍𝒖𝒕𝒆𝒓𝒔 𝒕𝒐 𝑷𝒂𝒚 𝒇𝒐𝒓 𝒕𝒉𝒆 𝑪𝒐𝒔𝒕 𝒐𝒇 𝑪𝒂𝒓𝒃𝒐𝒏 Climate action requires significant investment, and climate finance plays a vital role. However, a project-based approach alone can have limitations. Often, these projects address the symptoms - the emissions themselves - without tackling the root cause: the economic factors that make polluting activities attractive. This is where complementary policies come in. By implementing instruments like emissions trading schemes, we can establish a price on carbon. And implementing regulations that internalize the cost that greenhouse gases impose on society is also key. This price signal sends a clear message to the market: polluting activities become more expensive, while cleaner alternatives become more competitive. The result? Businesses and individuals are incentivized to reduce their emissions footprint and invest in sustainable solutions. These market-driven and regulatory approaches, combined with project-based finance, can create a powerful force for a greener future. #climatefinance #carbonpricing #emissionsreduction #sustainability

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Measurement and carbon emission pricing are the first steps to continuous improvement, key principles of top tier industrial companies. How do your supply chain and operations measure up?

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Interoperability between #sustainability reporting frameworks is a key issue for companies. Good to see that ISSB and EFRAG took the initiative to publish a detailed analysis of the climate-related disclosure requirements in IFRS S2 Climate-related disclosures and corresponding requirements in ESRS 1 General Requirements, ESRS 2 General Disclosures and ESRS E1 Climate change. Read this article to know more https://lnkd.in/gabxJeXd #esrs #ifrs #climatedisclosure

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In line with Triodos Bank's science based target to reach net zero by 2035, we initiated a climate change engagement project with the goal to encourage companies in our Impact Equities and Bond portfolios to set science-based GHG emission targets, in line with the 1.5°C trajectory. "Our approach is two-fold. One, we focus on companies that are still in the early stages of establishing a climate change strategy. These companies can greatly improve their approach by setting targets that are science-based. Two, we focus on the highest emitters in our portfolio, as reducing emissions for this group can substantially and efficiently decrease the emission intensity of our portfolio," explain investment analysts André d'Ursel, Luc van Haaren, and Lilia Feghiu. Read the full report on the outcomes of this project on our website, including concrete examples of what has been achieved with companies like Wolfspeed and DS Smith. #ImpactInvesting #EmissionsReduction #CleanEnergy #ScienceBasedTargets #GHGEmissions

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