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Bill C-59: Combating Greenwashing and Strengthening ESG Reporting
Bill C-59 represents a significant step in Canada’s ongoing effort to strengthen the Competition Act, focusing on combatting greenwashing. Greenwashing refers to the misleading practice of making false or exaggerated claims about a product or company’s environmental benefits. As the world increasingly demands environmental accountability from businesses, Bill C-59 holds companies to higher standards, especially […]
ESG in North American small businesses: How to Start Strong
With the planned adoption of ESG reporting for SMEs in Europe, it is only a matter of time before these requirements are encouraged in the USA. Large corporations often dominate ESG discussions. However, ESG in North American small businesses is gaining more attention. Small and medium-sized enterprises (SMEs) in North America stand a lot to […]
5 Things You Need to Know About the First Two IFRS Sustainability Disclosure Standards
The International Sustainability Standards Board (ISSB) has introduced the first set of IFRS Sustainability Disclosure Standards, setting a global benchmark that can be adapted to various regional requirements. These standards create a unified framework for businesses to report critical sustainability information, including their exposure to climate-related risks and opportunities. On June 26, 2023, the […]
How ESG Reporting Benefits SMEs in Finance and Stakeholder Relations
Grasping EFRAG’s Draft Sustainability Reporting Standards For small and medium-sized enterprises (SMEs), it’s crucial to become well-acquainted with the European Financial Reporting Advisory Group’s (EFRAG) draft standards for sustainability reporting. These standards mimic the regulatory reporting requirements seen in the financial sector and among larger corporations. Adopting these standards goes beyond mere compliance; it’s a […]
Mastering CSRD: A Must-Read Guide for Savvy Sustainability Managers
The Corporate Sustainability Reporting Directive (CSRD) marks a significant shift in the European Union’s approach to corporate sustainability. This comprehensive regulation aims to enhance and standardize sustainability reporting across EU member states, ensuring that companies provide consistent, comparable, and reliable information on their environmental, social, and governance (ESG) impacts. Mastering CSRD is key! As sustainability […]
Navigating ESG Reporting Challenges in 2024: Key Insights and Strategies for Success
Companies face mounting pressure to demonstrate transparency and commitment to sustainability but also encounter significant hurdles in the ESG reporting landscape. What are the top ESG reporting challenges for 2024? Which companies must be particularly vigilant, and which strategies overcome the obstacles? Top ESG Reporting Challenges in 2024 1. The Data Gap The Problem: Many […]
From ESG to Sustainability
The sustainability sector is undergoing a significant transformation, particularly evident in the way financial institutions are rebranding and repositioning their focus. The once prominent term “ESG” (Environmental, Social, and Governance) is being gradually replaced with “sustainability” as financial firms adapt to the shifting political and economic environment in the United States. The Changing Terminology: […]
The Growing Role of State-Level Initiatives and AI in Climate Transparency and Sustainability
Addressing Climate Change Through Regulation and Innovation As climate change becomes an ever-pressing concern, regulatory bodies and industry leaders are intensifying efforts to manage and disclose the associated risks. Two pivotal developments are California’s Climate Corporate Data Accountability Act (SB 253) and the application of artificial intelligence (AI) in Environmental, Social, and Governance (ESG) reporting […]
Preparing for the Next Wave of DEI Litigation: What Companies Need to Know
The recent Supreme Court ruling against affirmative action in college admissions has sparked significant backlash against corporate Diversity, Equity, and Inclusion (DEI) initiatives. Within weeks of the decision, Republican attorneys general from 13 states issued a stern warning to Fortune 100 CEOs, condemning their DEI practices and threatening legal action for “illegal preferences” in employment […]
Understanding the Alignment Between GRI Standards and ESRS
The landscape of sustainability reporting is undergoing significant changes with the introduction of the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD). For companies already utilizing the Global Reporting Initiative (GRI) standards, the good news is that there is a strong alignment between GRI and ESRS, making the transition smoother and […]