The document discusses a briefing webinar held by the Climate Disclosure Standards Board (CDSB) on their Framework consultation. The webinar provided an introduction to CDSB, an overview of Framework 2.0 and the consultation, and a question and answer session. CDSB is a consortium formed to standardize climate change reporting for transparent markets. Their Framework complements CDP reporting and guides companies on communicating environmental impacts and risks in annual financial reports.
3. @CDSBGlobal www.cdsb.net 3
Introduc.on
Speakers
Patrick
Crawford
Corporate
Engagement
Manager
Dr
Jarlath
Molloy
Technical
Manager
Michael
Zimonyi
Project
Officer
4. @CDSBGlobal www.cdsb.net 4
Financial
statements
capture
less
than
20%
of
corporate
risks
(source:
Eurosif,
IIRC)
Increasing
ESG
repor.ng
requirements
–
UK,
France,
EU,
South
Africa,
US?
Increasing
requirement
to
integrate
ESG
informa8on
with
financial
repor8ng
Increasing
impact
of
climate
change
on
decisions
and
ac8ons
by
management,
investors
&
other
stakeholders
About
the
Climate
Disclosure
Standards
Board
5. @CDSBGlobal www.cdsb.net 5
About
the
Climate
Disclosure
Standards
Board
+ Danish
Financial
Statements
Act
+ EU
Accoun8ng
Direc8ves
(proposed)
+ French
Grenelle
II
+ South
African
King
Code
+ UK
Companies
Act
+ Find
out
more
at
cdsb.net/standards
Repor*ng
landscape
-‐
mandatory
repor*ng
6. @CDSBGlobal www.cdsb.net 6
About
the
Climate
Disclosure
Standards
Board
Many
organisa8ons
may
prepare
and
publish
informa8on
requested
by
an
increasing
number
of
bodies:
Repor*ng
landscape
-‐
voluntary
repor*ng
8. @CDSBGlobal www.cdsb.net 8
The
integra*on
of
climate
change-‐related
informa*on
into
mainstream
corporate
repor*ng.
Objec8ve
When?
January
2007:
Launched
at
World
Economic
Forum,
Davos,
Switzerland,
as
a
special
project
of
CDP
Members
• Main
accountants,
ACCA,
ICAEW
…
• GHG
NGOs
e.g.
GHG
management
ins8tute,
Carbon
Tracker,
TCR
• Investors,
e.g.
Investor
Group
on
Climate
Change,
Ceres
• Business,
e.g.
WRI,
WBCSD,
BT,
WEF
Standardize
climate
change-‐related
(natural
capital)
repor8ng
for
fair
and
transparent
markets
Why?
About
the
Climate
Disclosure
Standards
Board
Climate
change
informa8on
in
CDP
and
other
disclosures
CDSB
Framework
Annual
Report
9. @CDSBGlobal www.cdsb.net 9
About
the
Climate
Disclosure
Standards
Board
+ CDSB
is
a
consor8um
of
business
and
environmental
organiza8ons
formed
at
the
2007
World
Economic
Forum’s
annual
Davos
mee8ng
+ CDP
has
provided
secretariat
support
since
incep8on
and
coordinates
day-‐to-‐day
ac8vi8es
Who
we
are
10. @CDSBGlobal www.cdsb.net 10
About
the
Climate
Disclosure
Standards
Board
Who
we
are
+ Supported
by
leading
industrial
&
financial
services
companies,
NGO
representa8ves,
the
major
accoun8ng
firms,
professional
bodies,
academics
and
other
specialist
collaborators
11. @CDSBGlobal www.cdsb.net 11
CDSB’s
Repor.ng
Framework
+ Complements
the
CDP
process
+ Communicates
management’s
assessment
of
natural
capital
impacts
in
annual
reports
+ Connects
Financial
and
non-‐financial
informa8on;
harmonizing
with
exis8ng
accoun8ng
and
na8onal
standards
+ Conformance
with
the
Framework
prepares
companies
for
compliance
with
current
and
proposed
regula8ons
+ Download
CDSB’s
Repor8ng
Framework
and
Guidance
from
www.cdsb.net/
Framework
About
the
Climate
Disclosure
Standards
Board
13. @CDSBGlobal www.cdsb.net 13
A
stepping
stone
to
producing
integrated
reports
CDP
Informa.on
request
CDSB
Guidance
CDSB’s
Repor.ng
Framework
THE
DATA
THE
LENS
THE
HELP
VISIBILITY
Mainstream
Report
About
the
Climate
Disclosure
Standards
Board
CDSB’s
Framework
used
in
ADDITION
to
the
CDP
disclosure
14. @CDSBGlobal www.cdsb.net 14
Natural
capital
+ CDP
has
expanded
into
forest
risk
commodi8es
and
water,
with
informa8on
requests
in
these
two
programmes
+ Natural
capital
is
a
core
part
of
the
IIRC’s
six
capitals
+ Regulators
are
increasingly
concerned
with
environmental
impact,
in
par8cular
in
the
EU,
but
also
elsewhere
+ Climate
change,
forests
and
water
accounts
for
79%
of
natural
capital
by
value
About
the
Climate
Disclosure
Standards
Board
17. @CDSBGlobal www.cdsb.net 17
Framework
2.0
+ CDSB
Framework
focuses
on
iden8fying
environmental
risk
and
repor8ng
it
in
mainstream
reports
+ Framework
helps
prac88oners
prepare
&
present
environmental
performance
&
risk
informa8on
in
mainstream
financial
reports
+ Designed
to
allow
investors
to
assess
the
rela8onship
between
environmental
performance
&
risks
and
the
organisa8on’s
strategy
&
prospects
+ Benefit
for
those
repor8ng
to
CDP
(CC
informa8on
request
Q4)
Why
mainstream
reports?
18. @CDSBGlobal www.cdsb.net 18
Framework
2.0
+ Harmonise
repor8ng
of
environmental
risk
by
having
it
included
in,
or
linked
to,
an
organisa8on’s
mainstream
financial
report
+ Environmental
performance
&
risk
subject
to
the
same
Interna8onal
Financial
Repor8ng
Standards
&
assurance
requirements
as
financial
informa8on
+ Centrally
deposited
with
competent
na8onal
authority
promptly
and
publically
available.
Working
with
regulators,
CDP
and
the
Fujitsu
Research
Ins8tute
to
develop
an
eXtensible
Business
Repor8ng
Language
(XBRL)
taxonomy
+ Growing
interest
among
policymakers
of
non-‐financial
repor8ng
Advantages
of
mainstream
reports
20. @CDSBGlobal www.cdsb.net 20
Framework
2.0
+ Focus
of
previous
CDSB
Framework
on
climate
change
risks
&
opportuni8es
affec8ng
an
organisa8on’s
strategy
and
financial
performance
+ Scope
has
now
expanded
into
forest
commodity
risks
(i.e.
drivers
of
deforesta8on)
and
water
+ The
expansion
of
the
CDSB
Framework
will
now
cover
79%
of
natural
capital
Main
changes
-‐
scope
21. @CDSBGlobal www.cdsb.net 21
Framework
2.0
+ Structure
has
been
reorganised
+ Other
issues
may
be
added
in
future
+ Framework
introduc8on
text
outlines
context
and
highlights
key
changes
between
edi8on
1.1
and
2.0
+ Requirements
&
guidance
listed
+ Requirements
aligned
with
CDP
informa8on
requests
Main
changes
-‐
others
22. @CDSBGlobal www.cdsb.net 22
Framework
2.0
+ Framework
now
links
and
references
to
other
repor8ng
methodologies,
requirements
and
principles
Main
changes
-‐
cross
references
23. @CDSBGlobal www.cdsb.net 23
Framework
2.0
+ Consulta8on
ques8ons
+ Sec8on
I:
Introduc8on
+ Sec8on
II:
What
to
report
+ Sec8on
III:
About
your
report
+ Sec8on
IV:
How
to
report
+ Sec8on
V:
Supplementary
guidance
Structure
and
outline
24. @CDSBGlobal www.cdsb.net 24
Framework
2.0
The
consulta8on
ques8ons
cover
the
following:
+ Objec8ves
and
scope;
+ Form
of
repor8ng,
+ Content
of
requirements
and
type
of
environmental
informa8on
disclosed,
minimum
repor8ng
requirements;
+ Language
&
terminology;
+ Metrics
&
indicators;
+ Assurance
&
verifica8on
Consulta*on
ques*ons
26. @CDSBGlobal www.cdsb.net 26
Framework
2.0
Part
A:
Informa8on
to
be
used
for
assessing
the
current
state
of
the
organisa8on
+ REQs
01-‐04
Part
B:
Informa8on
to
be
used
for
assessing
the
business
implica8ons
of
the
informa8on
reported
above
+ REQs
05-‐07
Part
C:
Informa8on
to
be
use
for
assessing
the
organisa8on’s
strategic
response
to
the
informa8on
reported
above
+ REQs
08-‐11
Sec*on
II:
What
to
report
27. @CDSBGlobal www.cdsb.net 27
Framework
2.0
Requirements
and
guidance
about
the
organisa8on’s
environmental
informa8on
repor8ng
prac8ces
+ REQ-‐12:
Boundaries
+ REQ-‐13:
Basis
for
prepara8on
and
presenta8on
+ REQ-‐14:
Repor8ng
policies
+ REQ-‐15:
Frequency
of
repor8ng
+ REQ-‐16:
Restatements
+ REQ-‐17:
Compliance
+ REQ-‐18:
Assurance
Sec*on
III:
About
your
report
28. @CDSBGlobal www.cdsb.net 28
Framework
2.0
The
requirements
and
guidance
designed
to
ensure
that
environmental
informa8on
in
mainstream
reports
is
useful
to
investors,
is
correct
and
complete
and
is
based
on
criteria
that
are
suitable
for
conduc8ng
assurance
ac8vi8es
+ REQ-‐19:
Relevant
+ REQ-‐20:
Faithfully
represented
+ REQ-‐21:
Connected
with
other
informa8on
+ REQ-‐22:
Consistency
of
disclosures
+ REQ-‐23:
Presenta8on
and
communica8on
+ REQ-‐24:
Materiality
Sec*on
IV:
How
to
report
29. @CDSBGlobal www.cdsb.net 29
Framework
2.0
+ A
number
of
disclosure
tools,
standards,
methodologies
and
guidance
are
referenced
+ SG
01
(A)
Methodologies,
tools
and
guidance
to
prepare
environmental
results
+ SG
01
(B)
Characteris8cs
of
useful
key
performance
indicators
+ SG
02
Risks
&
opportuni8es
Sec*on
V:
Supplementary
guidance
30. @CDSBGlobal www.cdsb.net 30
Framework
2.0
+ Fossil
fuel
energy
resources
+ Organisa8onal
boundaries
+ Shorter
consulta8on
period
in
parallel
with
draq
Framework
Discussion
papers
32. @CDSBGlobal www.cdsb.net 32
Overview
+ Available
at
cdsb.net/consulta8on
+ 90
day
consulta8on
period
open
+ Online
consulta8on
plarorm
(offline
also
available)
Consulta.on
Deadline:
12th
May
2014
36. @CDSBGlobal www.cdsb.net 36
Consulta.on
Summary
+ Download
consulta8on
draq
from
cdsb.net/consulta8on
+ Comment
on
draq
+ Consulta8on
ques8ons
Deadline:
12th
May
2014
37. @CDSBGlobal www.cdsb.net 37
Consulta.on
Due
process
+ Submissions
&
summary
published
+ Reviewed
by
Technical
Working
Group
+ Signed
off
by
Board
Images:
Macomb
Paynes,
ILRI,
kenmainr
/
flickr
38. @CDSBGlobal www.cdsb.net 38
Summary
Concluding
remarks
+ CDSB
working
with
others
on
sustainability
repor8ng
+ CDSB
Framework
expanded
scope
and
aiming
for
natural
capital
+ Framework
consulta8on
now
open,
comments
welcome
+ Discussion
papers
to
follow,
comments
also
welcome
+ This
work
has
been
made
possible
with
the
kind
support
of
the
Velux
Founda8ons
39. @CDSBGlobal www.cdsb.net 39
Thank
you
for
your
interest
Ques*ons?
Patrick
Crawford
Corporate
Engagement
Manager
Dr
Jarlath
Molloy
Technical
Manager
Michael
Zimonyi
Project
Officer