18 January 2023
ESG reporting regulation is coming. Are you ready?

     There were two major announcements at COP27 on the ESG and climate disclosure front. First, CDP will incorporate the ISSB’s IFRS S2 Climate-related Disclosures Standard into its global environmental disclosure platform. Second, the ISSB announced the launch of the Partnership Framework for Capacity Building in Developing and Emerging Economies: an effort to drive global adoption of an inclusive and implementable baseline for disclosure. (Please see IFRS-ISSB section for details on both initiatives.)


     The United Nations’ High-Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities issued a comprehensive report entitled, Integrity Matters: Net Zero Commitments by Businesses, Financial Institutions, Cities and Regions. UN Secretary-General António Guterres created the Group in March of this year to enhance standards for net-zero emissions pledges by non-State entities (i.e., businesses, investors, cities, and regions) and to accelerate their implementation. The report advances 10 comprehensive recommendations for non-state actors. The Secretary-General stated that we “must have zero tolerance for net-zero greenwashing,” and described the report as “a how-to guide to ensure credible, accountable net-zero pledges.” - From Green Cognition



Proposed rules would affect all registrants, including:


  • Smaller reporting companies (SRCs), emerging growth companies and foreign private issuers
  • Companies entering the US capital markets for the first time by initial public offering
  • Acquisition targets of public companies in a Form S-4



The recommendations center on four thematic areas of how organizations operate. These thematic areas interlink and inform one another:


  • Governance: The organization's governance around climate-related risks and opportunities
  • Strategy: The actual and potential impacts on the organization's businesses, strategy and financial planning.
  • Risk Management: The processes used by the organization to identify, assess and manage climate-related risk.
  • Metric and Targets: The metrics and targets used by the organization to assess and manage relevant climate-related risks and opportunities.



For questions on ESG Reporting and clean energy talent acquisition, reach out to Franchesca Mueller, Clean Energy Finance Recruitment Consultant: Franchesca.Mueller@talismanap.com 



"Final Report: Recommendations of the TCFD on Climate-related Financial Disclosures," TCFD, June 2017.



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