The IIRC has signed a statement of collaboration with the Climate Disclosure Standards Board (CDSB), timed for the launch of the CDSB Framework for reporting environmental and natural capital information in mainstream financial reports on 8 June 2015
The statement of collaboration sets out the organizations’ shared vision of a corporate reporting regime that will deliver the high quality information needed for decision-making in the 21st Century.
CDSB and the IIRC believe that climate change and the protection of natural capital are core issues for business and that relevant disclosures about both can provide valuable insights into corporate performances as part of an organization’s mainstream reporting. In this regard, the IIRC welcomes the initiative taken by CDSB and its signatories to publish a Reporting Framework to guide disclosure of information on natural capital through mainstream reports.
As acknowledged in the statement, CDSB and the IIRC have complementary roles in championing the link between corporate reporting and sustainable capital markets. In particular, climate change is likely to have a wider impact on the strategy and business models of business over time, requiring organizations to respond through integrated thinking and more focus on its relevance to long-term value creation.
Commenting on this statement of collaboration, Neil Stevenson, Managing Director, Global Implementation, IIRC said, “This statement renews the commitment of both our organizations to work together to inspire greater innovation in corporate reporting. One practical means of collaboration is through the Corporate Reporting Dialogue, which we both participate in, which has a common goal of improving the quality and consistency of global corporate reporting to provide increased certainty for businesses and investors alike.”