Somebody said that it couldn’t be done
It is now time to turn our legacy over to the new home: the IFRS Foundation - Mardi McBrien
For CDSB, it’s “mission achieved”
Paul Simpson, CDSB Board Member and CEO of CDP
Building the TCFD Knowledge Hub
Creating the TCFD Knowledge Hub has been one of my greatest achievements and, hopefully, a legacy that will continue long after I have left CDSB. The idea for the Hub came in 2017 from our Managing Director, who came back from an external meeting and announced to the team that we should create an online platform to support the implementation of the TCFD. We planned for a central repository to bring some order to the overwhelming amount of guidance, research and resources that were starting to be published in the wake of the TCFD recommendations.
CDSB’s hidden hero: Michael Zimonyi
Often when people talk about CDSB they talk about the leaders. For most of the organisation’s existence, CDSB has been a small Secretariat under 5 people. Lois Guthrie, CDSB’s Founding Director and I often said we ran the company on fairy dust, a little magic and a lot of coffee.
Looking back at CDSB
In this article Founding Director Lois Guthrie remembers some of CDSB's key moments
We can’t afford fragmented financial reporting
Hundreds of billions of dollars each year are spent on our fragmented financial reporting system. With CDSB’s announcement that it will sunset early next year and converge to form the International Sustainability Standards Board (ISSB), it is worth reflecting upon the foundational work CDSB and the sustainability reporting community have been involved in across the years, and how a great deal of it remains relevant to the future work of the ISSB.
We filled a gap for 15 years, now the ISSB will take us the rest of the way
Wednesday, 3 November, was a historic day at the COP26 climate summit in Glasgow. The news of the ISSB resonated globally...
Connecting CEO legacy, GHG emissions, climate in-action and mainstream reports
In this article the carbon footprint idea comes full circle to big polluters and the CEO’s who are accountable.
6 characteristics of biodiversity assessment corporates need to know
Climate change is a human-induced phenomenon that has been etched in the 2015 Paris Agreement. Businesses are rolling out a barrage of actions to reduce emissions and conform to climate-risk disclosure regulations. With corporates grappling to meet their net-zero targets, new talk of nature-related risk disclosures, such as biodiversity, may seem overwhelming.
You can’t opt out of financial reporting, so why does it continue to be okay to opt out of reporting financially material sustainability risks?
CDSB Managing Director Mardi McBrien says reporting will need to play a key part in the world achieving the World Business Council’s Vision2050 strategy.
TCFD Status Report – Following the brick road to better disclosures
Written by Mardi McBrien, Managing Director of CDSB
Water risks: why investors care about sustainability
Heatwaves and droughts are some of the effects of climate change that have become evident in recent years. The intensity and frequency of these occurrences has increased. But since these events are not new, it could be years before some people are motivated to address climate change. While the effects of climate change may therefore seem far removed, water-related risks are widespread. Water is arguably the medium through which we feel the effects of climate change most.
How to prevent biodiversity loss through value chain tracking
Food production is the primary cause of global biodiversity loss (60-70%). At the same time, approximately one third of the food produced (1.3 billion tonnes) is wasted along the supply chain. Food waste increases pressure on agriculture and therefore drives biodiversity loss. Finding efficient ways to track value chains can reduce food waste.
World Water Week recap: Can better disclosure solve the water crisis?
Following the release of the new CDSB Water Guidance, we caught up with investors, companies, and NGOs to discuss water-related financial disclosure at the World Water Week.
3 water-related impacts to business you hadn’t thought of
Over 2 billion people live in countries with high water stress levels. Global water use has more than doubled in the last 40 years. Coupled with the effects of climate change, the strain intensifies. Businesses are already experiencing financially-material impacts related to competition of water resources and its associated degradation of ecosystems.
The Chief Financial Officer of the future is the Chief Value Officer
CDSB's Technical Working Group member Dr. Delphine Gibassier discusses the need to redefine Chief Financial Officers to Chief Value Officers to reflect the growing demand for sustainability accounting and integrated thinking.
The good, the bad and the ugly. What went down?
Last Thursday, CDSB hosted a webinar to look back at some of the common practices of TCFD reporting that have emerged, now that we have had the reporting standard for four years. From "sustain-a-babbling" to TCFD light (diet version), the panellists had seen it all and did not hold back the lassos. Here are some of the good, bad and ugly moments of this London Climate Action Week webinar event.
Covid inequalities highlight the pressing need for social reporting
The lasting impact of the Covid-19 pandemic on our personal lives is evident. Beginning with the loss of loved ones and extending to how we work, shop, and socialise. But what will the impact be to our societies and economies in the long run? The truth is that the long-term ramifications are far from clear.
How can companies better report on environmental risks?
Findings show a deep misalignment between sustainability reports and mainstream findings, indicating the need for an improved understanding of risk.
Connecting biodiversity with financial capital
New guidance underway for companies to address biodiversity and land use-related financial reporting. CDSB's Technical Director, Ravi Abeywardana, shares insight into the work.
Introduction to TCFD (IBM Think Summit)
CDSB’s Managing Director, Mardi McBrien, introduced the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) at the IBM Think Summit Australia & New Zealand.
Starting from the top: why non-financial reporting needs strong corporate governance
On 9 February, CDSB and Frank Bold brought together policy, academic and corporate perspectives ahead of the release of the EU sustainable corporate governance reforms. CDSB's Axelle Blanchard, highlights key takeaways from the insightful discussion.
Dasgupta review on the economics of biodiversity highlights key role for nature-related financial disclosure
CDSB’s Technical Manager Fiona Quinlan explores the key findings of the review, and their links to CDSB’s upcoming Biodiversity application guidance
Will 2021 be the turning point for sustainability reporting in Europe?
CDSB's Policy Manager, Axelle Blanchard, shares her views on the current state of reporting policies and corporate practices following the launch of CDSB’s latest analysis of 2020 environmental disclosure by Europe’s major companies in order to assess what is ahead of us in 2021.
People and Planet in the Accounts: non-financial disclosures – the rubber’s not hit the road… yet
Mardi McBrien says that when it comes to putting people and planet into the accounts, the moment of truth is still some way off but is fast approaching.
Briefings: disclosure under the EU Non-Financial Reporting Directive
The CDSB has held a series of briefings around the disclosure under the EU Non-Financial Reporting Directive ahead of a major report launch in December.
The Value Reporting Foundation – What is next for CDSB?
Mardi McBrien, Managing Director of CDSB, comments on the formation of the Value Reporting Foundation, announced by SASB and IIRC, and the role of CDSB.
Beyond harmonisation: Building a non-financial reporting community of practice
Dr Tim Kasim, member of the CDSB Technical Working Group, discusses harmonisation as an opportunity for creating a community of practice which transcends institutional boundaries, and offers some insight for harnessing tensions into a productive friction in a community of practice.
Breaching the data gap: CDSB's response to joint ESA consultation on ESG disclosures
Axelle Blanchard summarised the key points of CDSB's response to the joint consultation
Are we feeling the shark’s teeth?
Francesca Recanati takes a deep dive into the meaning of water-related financial risks for business and shares insight into CDSB's ongoing work on water-related disclosure.
2020: The disruption and the lasting change
Last week the world’s largest asset manager, BlackRock, announced that it voted against 53 companies worldwide due to lack of progress on climate concerns. CDSB’s Senior Technical Officer, David Astley, warns that the “freshness” of climate reporting phenomenon should not be mistaken for fleetingness.
Climate and financial reporting
How can we advance the integration of climate-related matters into financial reporting? CDSB's Technical Manager, Sundip Jadeja, shares insight into the work of the Technical Working Group on Climate Accounting Standards.
Four steps to a stronger TCFD disclosure
Ricardo, a global strategic engineering and environmental consultancy that specialises in the transport, energy and scarce resources sectors, outlined four steps to strengthen climate-related disclosure in line with the TCFD Recommendations.
Is the EU Non-Financial Reporting Directive falling short of its intended goals?
CDSB's Policy Manager, Axelle Blanchard shares key takeaways and useful resources from the launch of CDSB’s latest analysis of environmental and climate-related disclosure by Europe’s major companies.
New EU renewed sustainable finance strategy: challenges and opportunities
As the EU’s new strategy for a sustainable financial system is debated in Brussels, CDSB’s Policy Manager Axelle Blanchard identifies some challenges and opportunities of this important initiative.
EU Green Deal and NFRD review: Will the EU manage to turn strategies into actions and move towards more consistent and comparable non-financial reporting?
As the new European Commission is currently implementing the priorities set out in the 11 December Communication on the European Green Deal, CDSB’s Policy Manager, Axelle Blanchard, gives insight into the first round of feedback from stakeholders from the initial inception impact assessment consultation on the NFRD review.
A snapshot on water-related disclosures: What are companies reporting in their annual reports?
With World Water Day just around the corner on Sunday 22 March 2020, CDSB’s Technical Manager, Francesca Recanati, shares a snapshot of current practices in water-related reporting by companies.
Tips for making effective environmental disclosures under the EU Non-Financial Reporting Directive
Following the launch of the EU Environmental Reporting Handbook, CDSB's project manager, Gemma Clements, shares four essential tips on how to disclose environmental information in line with reporting requirements in Europe.
Second time lucky? How to make the EU Non-Financial Reporting Directive work this time around
Mardi McBrien, CDSB's Managing Director, outlines how the EU Non-Financial Reporting Directive (NFRD) should be rewritten to make it work for investors.
Scope 4: do we need a new category of emissions to better address corporate climate action?
CDSB's Technical Working Group member, Jarlath Molloy, investigates whether the progress being made by companies to reduce their greenhouse (GHG) emissions has been overlooked to date and what a solution could be.
Which ESG issues are most important to corporate sustainability?
Recent research by CDSB and WBCSD has found 40 ESG issues key to corporate sustainability, including 10 emergent issues. Here we present the findings of the research and offer helpful tips to companies on how they can better report against them.
8 ambitious ways to improve your non-financial reporting practices
CDSB, WBCSD and RY discuss their top tips for enhancing corporate reporting based on the findings of Reporting Matters 2019.
Key takeaways and resources from the UNCTAD-ISAR workshop on climate-related financial disclosure
CDSB's Communications Manager, Lesley McKenna shares key takeaways and resources from the successful workshop as part of ISAR 36.
No more time for excuses when it comes to climate-related reporting
CDSB's Managing Director, Mardi McBrien, speaks about the release of the Better Alignment Project report "Driving Alignment in Climate-related Reporting".
Are we headed towards mandatory climate disclosure?
CDSB's Technical Director, Nadine Robinson, examines signals from Government and the finance community about the need for mandatory disclosure and potential pathways for inclusion in national legislation.
London Climate Action Week: Spotlight on Female Leaders in the City
Q&A with Sarah Breeden, Executive Director for UK Deposit Takers Supervision, Bank of England.
London Climate Action Week: Spotlight on Female Leaders in the City
Q&A with Veronica Poole, Partner at Deloitte and UK Head of Accounting and Corporate Reporting.
London Climate Action Week: Spotlight on Female Leaders in the City
Q&A with Stephanie Maier, Director - Responsible Investment Specialist, HSBC Global Asset Management.
London Climate Action Week: Spotlight on Female Leaders in the City
Q&A with Jo Paisley, Co-President, GARP Risk Institute.
London Climate Action Week: Spotlight on Female Leaders in the City
Q&A with Robin Millington, Executive Director, Planet Tracker.
London Climate Action Week: Spotlight on Female Leaders in the City
Q&A with Amelia Tan, Director, EMEA Head of Platform Strategy and Innovation, Blackrock.
London Climate Action Week: Spotlight on Female Leaders in the City.
Q&A with Dr Rhian-Mari Thomas OBE, CEO of Green Finance Institute.
London Climate Action Week: Spotlight on Female Leaders in the City.
Q&A with Stephanie Hime, Director at Little Blue Research.
Disclosures remain far from the scale the market needs: CDSB Analysis of 2019 TCFD Status Report
Climate-related risk has never been more prominent in corporate discourse, cemented by today’s release of the Task Force on Climate-related Financial Disclosures (TCFD) second Status Report.
Can we bring nature back from the brink?
CDSB's Senior Technical Officer, David Astley, looks at the latest report from the UN’s Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES).
Discover what happened at the recent forum on taking the TCFD from principles to practice.
Organised by CDSB and kindly hosted by the London Stock Exchange.
From recommendations to regulation – a closer look at Europe's response to the TCFD recommendations
Johann Weicht from KPMG takes a look at Europe's approach to the TCFD recommendations and what future regulation could mean for disclosure.
Key takeaways from the EU high-level conference: A global approach to sustainable finance
Like the window of opportunity to break the Tragedy of the Horizon, Lesley McKenna keeps her observations from yesterday’s conference short.
Overcoming the 4 most common issues when implementing TCFD recommendations
Gemma Clements offers insight and advice on overcoming potential roadblocks for disclosing climate-related financial risk and opportunities
Gordon Wilson hands the technical leadership to CDSB Founding Director
It is with a mixture of gratitude and sadness that I announce that Gordon Wilson (PwC), Chairman of the Technical Working Group of the Climate Disclosure Standards Board (CDSB) has passed his role to CDSB’s founding director Lois Guthrie, (WBCSD).
A Debate At The Oxford Union: Should FASB And IASB Set Standards For Nonfinancial Information?
On December 11, 2018, a debate will be held at the Oxford Union regarding the “Motion: This House believes that corporate sustainability reporting should be mandated, and standardised by FASB and IASB, for it to be most useful for investors.” It will be chaired by Lady Lynn Forester de Rothschild. In proposition are Paul Druckman, Ian Mackintosh, Sir Callum McCarthy, and Anne Simpson. In opposition are Jonathan Bailey, Bob Herz, Harvey Pitt, and Tom Quaadman. The debate is free and open to the public as space permits.
Getting to grips with the EU Non-Financial Reporting Directive: what are the next steps?
On 29 November, CDSB and CDP published the report ‘First Steps’ which examined corporate climate and environmental disclosure in the first year of reporting under the EU Non-Financial Reporting Directive. In this summary, we look at some of the findings and the next steps we recommend.
Helen Brand on non-financial reporting in Europe
The Chief Executive of the ACCA comments on the review of EU corporate reporting conducted by CDSB & CDP.
The confusing reporting landscape is about to make a lot more sense
The explosion of reporting practices is a natural reaction to the desire for things to change – for companies to be accountable for their impacts on the economy, society and the environment and for value to be created for all stakeholders.
What to expect from the months ahead
Returning to her role of Managing Director from maternity leave, Mardi McBrien writes about CDSB’s mission and what to expect from the year ahead
The role of regulation in improving investor reporting
Simon Messenger writes about how to develop good reporting practices to integrate climate change into institutional investments.
Implementing the TCFD recommendations: responding to the challenges (Part II)
In the past few months, CDSB held various workshops on the TCFD recommendations to provide guidance on the topic and gather feedback on the challenges and solutions that organizations are adopting on this journey.
Implementing the TCFD recommendations: identifying the challenges (Part I)
Between October and March, we held a number of interactive workshops on the TCFD recommendations and climate risks to provide some guidance on the topic and gather feedback on the significant challenges that organizations are facing on this journey.
UK Green Finance Inquiry report released
CDSB's technical working group member Carol Adams summarises the findings of the UK Environmental Audit Committee's report on green finance
Scenario analysis: each journey starts with a few practical steps
Scenario analysis presents one of the biggest challenges organizations are facing when reporting climate information following the TCFD recommendations. Here are a few tips to get you started.
Resources to implement the TCFD recommendations: what’s out there?
Finding the right resources to implement the recommendations of the Task Force on Climate-related Financial Disclosures can be hard. Together with the TCFD, we have launched a Knowledge Hub to support businesses implement the TCFD recommendations.
Looking back at 10 years of CDSB
Mardi McBrien writes her personal reflections on the past 10 years of CDSB, highlighting the key achievements of the organisation.
EU sustainable finance action plan – what's it all about?
On 8th March, the European Commission laid out its plans to achieve sustainable growth, manage financial risks and foster transparency in markets. Here’s what you need to know.
Green capital: driving sustainable growth
Michael Wilkins, Head of Sustainable Finance at S&P Global Ratings writes about the latest developments in the green bonds market and its connection to climate reporting
Will Europe be first to adopt the TCFD recommendations?
On 31st January, the EU High-Level Expert Group on Sustainable Finance (HLEG) released its recommendations for Financing a Sustainable European Economy. This is a summary of and initial reactions to its recommendations around TCFD implementation.
Integrated Ratio Guideline – a helping hand for companies and investors
CDSB's Technical Working Group member Dr. Jane Thostrup Jagd presents the Integrated Ratio Guideline, a new tool to calculate non-financial and integrated ratios
One Planet Summit – What Next?
Simon Messenger, Managing Director at CDSB, rounds up the key highlights and announcements of from the One Planet Summit, with some personal reflections
Pressure mounting on directors to consider climate risk
Following our webinar on directors' duties and liabilities around climate risk, we summarize some of the most recent developments in this space.
Bringing order to sustainability reporting
We have launched the Reporting Exchange, a new global platform dedicated to sustainability reporting, providing information about environmental, social and governance reporting requirements and resources
3 Reasons Why Fossil Fuel Companies Should Disclose Their Reserves
The World Resources Institute (CDSB's Board Member) developed the first-ever comprehensive methodology to measure and report potential emissions from oil, gas and coal reserves
A new angle on materiality
Materiality isn’t something you should think about once a year.
Mandatory climate change disclosure in the G20: where are we at?
CDSB's Technical Manager, Nadine Robinson, explores the state of mandatory climate-related reporting in G20 countries following the release of the final TCFD recommendations report
Dummies guide to the new UK non-financial reporting requirements
Dr Jarlath Molloy, CDSB’s Technical Working Group member, offers some valuable tips on how companies can meet the new UK non-financial reporting requirements.
Australia is waking up to the financial risks of climate change
As Australia’s Senate, Prudential Regulator and Department of Environment and Energy have all looked at climate risk disclosure in the past months, Mardi McBrien shares her views on why climate risk is high on the country’s agenda and what can be done to take it to common market practice.
Non-financial reporting, stage two: changing human behaviour
Dr Jarlath Molloy, CDSB’s Technical Working Group member, writes about the real challenge companies face with the new requirements deriving from the EU Non-Financial Reporting Directive.
Defining 'material' climate risks
How can organizations categorize the unpredictable, long-term impacts of a changing climate as specific financial risks? Prof. Robert Eccles and Lois Guthrie explore the issue of climate risk materiality
Navigating the new world of non-financial disclosure
A directive obliging UK companies to include environmental and other information in annual reports will make sustainability a bigger priority for business leaders and investors alike
The TCFD recommendations: a missed opportunity for harmonisation?
Prof. Carol Adams, member of CDSB's Technical Working Group, shares her views on the Task Force recommendations and harmonisation in the reporting world
Making climate disclosure the new norm in business
Businesses across the globe are about to make “climate disclosure” and “climate risk” this year’s buzzwords.
Sustainability reporting: we are moving past “box ticking”
CDSB welcomes the launch of the GRI Standards as a tool to support mainstream corporate reporting, enhance efficient capital allocation and improve corporate performance
What is climate-related financial information? TCFD series part 2
The TCFD has stipulated that it is focused on financial risks related to climate change, but what does this mean? CDSB Founding Director Lois Guthrie considers this in the second part of our TCFD series.
An intern's experience at CDSB
After interning with CDSB for 5 months, Diva Shah shares her experience and some of the things future interns can expect.
What is climate risk? TCFD series part 1
In the first of a 4 part series, Lois Guthrie considers some of the questions that might be on the minds of TCFD members.
Resilience and security – redwood and salmon
Following the International Day for Biological Diversity and World Environment Day, Luke Blower considers the role of resilience and security for society and the natural world.
Sustainability reporting: rise of the new order
With more and more sustainability reporting initiatives emerging, we put together 7 fundamentals that businesses can follow to stay above the flow and succeed in reporting.
How can we break the language barrier between finance and sustainability?
After attending the WBCSD annual Liaison Delegate meeting in Montreux, Adrian King reflects on the need to bridge the gap between sustainability and finance.
Signing the Paris Agreement: what does it mean for business?
With the historic Paris Agreement signed by the world's governments, its ability to deliver rests in the hands of the market.
Business cycle? Think water cycle
What better time for businesses to think about their use of natural capital such as water than today, on World Water Day.
Can we align to drive change? Climate change disclosure in G20 countries
This OECD-CDSB report on "Climate change disclosure in G20 countries: Stocktaking of corporate reporting schemes" covers mandatory legislation by most G20 countries requiring the disclosure of climate change related information, policies and related risks.
EU Footprint Matters
CDSB was appointed by the European Commission's DG Environment to participate in the peer review of a pilot phase aiming to deliver a single market for green products and organisations.
COP21 deal is an opportunity for business to thrive
The Paris Agreement brings the promise of climate resilient markets and an environment of certainty and opportunities.
COP21 Paris – strengthening a collaborative response for #climateaction
When complex systems threaten to fail, it is the strength and multitude of connections that determine their resilience.
Milestones, goals and future plans
September has drawn to a close and, with a very successful Climate Week New York behind us, it’s time to turn our gaze towards COP21 and the launch of the UN’s Sustainable Development Goals (SDGs).
“There is no fiduciary duty to make the planet uninhabitable”
Jane reflects on summer, cricket, CDSB’s recent milestones and the CTI founder’s words of “There is no fiduciary duty to make the planet uninhabitable”.
Thoughts from our MD – July 2015
Having taken on a 12 month tenure as Managing Director of CDSB in June, unbelievably I find I have been here for a month already. And what a month!
CDSB Framework launched – what now?
With the launch of the expanded CDSB Framework, we turn our focus to developing enabling conditions for increasing its implementation globally.
The next steps in CDSB's story – your views welcome!
Technical Manager Dr Jarlath Molloy on the most recent developments at CDSB.
What next for climate change policy?
The interaction between climate science and policy making is more than a case study - it may literally shape our future world and lives.
Science and the stock market, investors' recognition of unburnable carbon
Paper explores why investors appear to have taken very limited action against carbon asset stranding risks.
Why the CDSB Framework doesn't and won't (yet) include Scope 3
Answering the question: Why doesn't the CDSB Reporting Framework require Scope 3 emissions information?
Natural Capital - the new sustainability lexicon?
Is natural capital accounting the next big thing in environmental sustainability? Are there frameworks/standards that we can adopt? Should we be developing issue or sector specific frameworks?
Rise of the green dragon: implications of carbon reporting in China
China’s plans for a nationwide carbon trading scheme will increasingly require Chinese companies to report their carbon emissions.
Investigating unified reporting system in Germany to achieve climate neutrality by 2050
In October 2009 the European Commission set the objective for the EU and industrialized countries to reduce their greenhouse gas (GHG) emissions by 80-95% by 2050 compared to levels in 1990. Germany set a higher goal, planning to completely decarbonize its national economy by 2050.
Webinars show practical nature of CDSB’s Framework and how to conform to the new UK GHG reporting regulations
CDSB hosted two webinars designed to demonstrate the practical experience of using CDSB’s Framework. The presentations outlined the necessary steps to prepare the non-financial data to match the financial themes in a company’s annual report.
UK Greenhouse gas Emissions Reporting Legislation - A Practical Workshop
Friday 12 July 2013. The London Stock Exchange hosted, with CDP, a practical workshop on the forthcoming UK regulations on GHG emissions. Very timely, as the new UK regulations were approved by parliament on 17th July.
Accounting for a zero carbon economy
With the emergence of a low carbon future , there is a greater overriding need for a standard way of accounting for GHG emissions.
UK Gov. to Require Large Public Companies to Report GHG Emissions by April 2013
The UK Government has announced that 1600 large companies in the UK will need to disclose their greenhouse gas emission from April 2013.
Bridging the divide between climate disclosure and investment decisions
In a carbon constrained world, investors are calling for improvement in non-financial disclosure of climate information. Despite these calls, investors are receiving a plethora of information, hindering their decision making.
Consistency in Climate Change Reporting
The Consistency Project allows investors to compare and collect climate change information, providing greater clarity on risky ventures.
Leading from the Future
Creating systematic change to provide a common language and standard in a fast developing world requires leadership and innovation.
VIP Blog for Greenstar
Removing clutter in non-financial reports and providing common standards is integral for responding to calls for sustainable business and changing behaviour.