Master the interoperability of climate disclosure frameworks
Over recent years, there has been a proliferation of different sustainability standards, frameworks and regulations. Though each one is different, many have similar goals and require similar data. This is what we mean when we talk about interoperability – the ways in which they interact and intersect.
It’s efficient to learn about interoperability
Sustainability reporting has evolved significantly over the past two decades. Originally, companies only reported financial metrics, but as societal priorities shifted, they began integrating ESG into their disclosures. We saw the emergence of voluntary reporting frameworks, such as the Global Reporting Initiative (GRI), CDP and Sustainability Accounting Standards Board (SASB). The data collected is a lot more conclusive, but it’s harder to keep track of so many frameworks, and far more time-consuming to report to many of them.
Therefore, knowing how the main standards, frameworks and regulations are interoperable can help you to avoid duplication of work, manage your efforts more efficiently and ease the burden of reporting.
The six key frameworks and standards intersect
Here’s an example of how the six key frameworks and standards can be aligned with CSRD, integrated into ESRS development and compared with one another. It saves you the time and effort of trawling through all the documentation, just as a knowledge of interoperability saves you time and effort as you work on your disclosures.
We’ve created a handy reference guide, full of expert advice and mapping tables like this one, to illustrate how the different standards interrelate.
Our recent webinar expands on this topic
In a recent webinar on how to prime your business for CSRD and reap the benefits of interoperability, our team discussed the current disclosure landscape, the latest developments in the interoperability of disclosures, and how complex CSRD requirements might apply to you as your produce a report. If you’re looking to further your knowledge of this topic, it’s certainly worth a watch.
Verco can help with the disclosure process
The Verco team can help you price climate risks and opportunities and direct capital accordingly. Please contact us if you have any questions about the disclosure process.
