Central Bank of Ireland’s Post

🌱 Embracing Change: Navigating the Latest #CSRD Updates 🌍 I understand that many of us are feeling a tad bewildered by the recent developments in the Corporate Sustainability Reporting Directive (#CSRD) world. Change can be challenging but also an opportunity for growth and progress. 📈 Over the past few weeks, we've witnessed a flurry of new announcements, changes, and adjustments. It's only natural to find the communication and explanations a bit complex. 📢 But here's the good part: the EFRAG has published implementation guidance on conducting double materiality analysis and a draft excel sheet with all 1.178 data points. 📝 https://ow.ly/vEex50Q3Pmu #csrd #regulation #sustainability #corporatesustainability

Our brand-new guide to the #ISSB Standards gets into the detail – helping you meet both the challenges and opportunities arising from implementation https://lnkd.in/e7SsCBBd #SustainabilityReporting

𝗜𝗙𝗥𝗦 𝗦𝟭 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗱𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 Publication of International Financial Reporting Standard (#IFRS) #S1 and #S2 standards by the International Sustainability Standards Board (#ISSB) mark a step change in what is expected of firms, with S1 raising the bar on how firms approach and make sustainability-related disclosures. 📑 Is your organisation prepared? 👉Read more: https://lnkd.in/eU7MHx5a   Alex Hindson Daniel S.  #CroweRiskConsulting #SustainabilityReporting #Sustainability 

In the simplest way, the mandatory financial reporting shows the level of profit achieved (among other financial kpis), while the Sustainability Reporting intention is to show HOW the profit was obtained. The business world (as we know it) is going to change, as both reporting (financial & sustainability) will be equally important in the eyes of investors and other stakeholders, for assesing the corporate performance. The European Commission announced today that it has adopted the European Sustainability Reporting Standards (ESRS), the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks under the EU’s upcoming Corporate Sustainable Reporting Directive (CSRD), marking a major step towards the implementation of the law, with reporting set to begin for some companies as soon as the 2024 financial year. Sustainability Reporting will become a strategic tool for companies that enables both internal and external parties to assess corporate performance effectively. The sustainability should become an intrinsec part of the business strategy. It will drive internal performance improvements, while the reporting process (and data collection) will allow companies to identify and asses both the negative and the positive material impact domains. It will be interesting 🙂 #sustainability #sustainabilityreporting #BusinessPerformance #impact #compliance #riskmanagement #CSRD #ESRS

A GLANCE OF THE EVENT "CSRD: Implementation and Beyond" AND A FREE USEFUL GUIDE: The event happened today 15-may-2024 and was live-streamed. The key-topics were: 🔸 Importance of #CSRD 🔸 Transparency and Green Finance 🔸 CSRD as a Management Tool and business #sustainability strategy 🔸 Efforts for clear and consistent standards: EU, non-EU and Sector-Specific Standards 🔸 Role of stakeholders 🔸 Assurance and Auditors For me, the best of the event was the publication of the free material by #GRI Lefebvre Sarrut "CSRD essentials: the definitive guide to the EU Corporate Sustainability Reporting Directive" (link to download in the comments).

IFRS S1, among other things, focuses a lot on 'how' firms disclose sustainability-related information. Together with S2, it narrows the expectations-gap between firms' financial and non-financial disclosures. We recommend using the time available to invest incrementally and to complete a dry run. Not least, this will avoid a mad scramble. Alex Hindson - good to work with you on this.

ISSB standards represent a vital step in achieving a comparable sustainable reporting!! #issbstandards #sustainabilityreporting

I'd like to share that I've received a new certification: CSRD Fundamentals from the company CSRD Institute! From January 1, 2024, Europe-based companies that were already following the Non-Financial Reporting Directive (NFRD) will need to adopt the Corporate Sustainability Reporting Directive (CSRD), a new EU directive for corporate sustainability reporting. CSRD aims to increase the breadth of non-financial information disclosed by organizations, ensuring consistency, relevance, comparability, and easy access. Companies must report sustainability information using the European Sustainability Reporting Standards (ESRS), which cover qualitative, quantitative, forward-looking and retrospective topics about their value chains and short-, medium- and long-term horizons. Adoption is divided into stages, with mandatory disclosure starting in 2025 for companies that have already adopted NFRD, including limited assurance... CSRD Institute #CSRD #ESRS

Ready to shift your perspective on ESG from compliance to a strategic advantage? Convene ESG, in collaboration with the Corporate Secretaries International Association Limited, presents the workshop "ISSB Standards Unveiled: Achieving ESG Reporting Excellence with ISSB Standards." Secure your spot now through this link: https://hubs.ly/Q0255b4v0 Curious about what you’ll gain from this workshop? Here’s a sneak peek! ✅ Understand ISSB Standards and delve into the dynamics of sustainability versus financial standards, materiality, capacity requirements, and Scope 3 emissions reporting. ✅ Hone your knowledge in adopting the ISSB Standards across different jurisdictions. ✅ Unlock best practices for effectively implementing ISSB Standards within your organization. Don't miss out on these valuable insights! Register now. #Convene #ConveneESG #CSIA #ESG #Sustainability #ISSB #ISSBStandards #ESGReporting #SustainabilityReporting