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Statement on ‘Statement of Intent to Work Together Towards Comprehensive Corporate Reporting’

Friday, September 11, 2020

CAQ Statement based on a joint statement of intent released by five internationally significant framework and standard-setting institutions: Carbon Disclosure Project (CDP), Climate Disclosure Standards Board (CDSB), International Integrated Reporting Council (IIRC), Global Reporting Initiative (GRI), and Sustainability Accounting Standards Board (SASB).

Washington, DC, September 11, 2020 – The focus on ESG reporting as a way for companies to communicate business risks and opportunities has rapidly translated into growing investor, policymaker, regulator, and corporate interest in this type of enhanced corporate reporting.  The building blocks of reliable, comparable and relevant ESG information begin with a foundation of quality reporting. The challenge to determine what types of ESG information to report and how to communicate in a landscape of multiple frameworks and standards is real. A globally accepted system built from existing standards and frameworks, adapted to market needs, could help ensure companies put forth readily comparable ESG information.

“Investors are clear – ESG information is increasingly relevant to their decision-making,” said Julie Bell Lindsay, CAQ Executive Director. “Auditors remain dedicated to preserving public trust in the capital markets through the flow of reliable information for decision-making. We applaud the leading framework and standard setting organizations for coming together with a joint vision towards a more consistent system for ESG reporting.

“A globally accepted system built from existing standards and frameworks, adapted to market needs, could help ensure companies put forth readily comparable ESG information. Further, the financial reporting process that has long underpinned our capital markets serves as a model, providing a path forward for ESG reporting with greater comparability and reliability.”