The Climate Disclosure Standards Board (CDSB) released application guidance for the CDSB Framework in relation to climate-related disclosure (Climate Guidance). The release is the first in a series of guides on nature-related financial disclosure, and Water Guidance is expected to follow soon after.
The Climate Guidance is designed to provide additional assistance for companies to know how to disclose material climate-related information in mainstream, corporate reports. The guidance complements the CDSB Framework for reporting environmental and climate change information (CDSB Framework), and aligns with other global standards, recommendations and metrics, such as the Recommendations of the Task Force on Climate-Related Disclosures (TCFD), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), CDP, and others.
The Climate Guidance, first in a series of supplementary guides planned for the users of the CDSB Framework, aims to fill the gaps in reporting quality by providing real time guidance that is focused on the disclosure of material, non-financial information in the mainstream report.
Lead author of the guidance, David Astley, believes “the hands-on Climate Guidance features examples of good practice, checklists, links to further relevant resources, and answers the ‘how to's and ‘what does it look like’ questions that CDSB hears from the market.”
Meanwhile, the Managing Director of CDSB, Mardi McBrien adds “companies are still falling short of adequately reporting environmental and climate-related information. Investor demand for consistent, comparable and reliable information on ESG matters is growing rapidly, and despite this widespread support, climate-related disclosure is not where it needs to be to move money in the right direction. TCFD has released a set of recommendations, this guidance CDSB is launching today can play an important role shifting support for TCFD to action.”
The Climate Guidance was formally launched during an online launch event on 29th July.