The REP Wrap: Guide published to help CFOs with biodiversity
Your weekly summary of corporate sustainability news.
EFRAG is recruiting companies to help it test out draft sustainability reporting standards for non-EU entities. The standards, known as N-ESRS, will be open for public consultation in July, and firms are requested to apply for the field test by the end of this month. It said successful candidates would “secure direct interaction with EFRAG shaping the future sustainability reporting standard for non-EU groups”.
The International Organisation for Standardisation launched a standard this week, outlining best practice for financial institutions designing and publishing climate transition plans. The standard is based on existing guidance from the Transition Plan Taskforce, the Institutional Investor Group on Climate Change and the Glasgow Finance Alliance for Net Zero.
Luxury goods firm Kering is expanding its vendor-assessment platform to include “all key steps in our supplier relationships” – including the management of tenders. According to its latest sustainability report, it will also extend its regenerative raw-materials programme to leather in 2026. The update comes as rival Burberry announced plans to roll out an internal carbon price.
The Transition Pathway Initiative has published ‘carbon performance’ data for 45 of the world’s largest cement companies. The investor project, which is run out of London School of Economics, has plotted the firms’ decarbonisation pathways and assessed how they manage their climate transition.
The Taskforce on Nature-related Financial Disclosures has partnered with Accounting for Sustainability on a new guide for chief financial officers. The document, Asking Better Questions for CFOs, aims to help them assess how nature-related dependencies, impacts, risks and opportunities could affect the financial performance and future prospects of the business.
US chemicals firm FMC has committed to reduce its Scope 1 and 2 emissions by 42% by 2030 in its latest sustainability update, and 25% for its Scope 3 emissions. By the end of 2025, it had achieved a 24% cut compared to its 2021 base year.
Brazil’s Securities and Exchange Commission has dropped incoming mandatory sustainability disclosure rules. This week, it announced changes to regulation that would have required listed companies to report in line with the International Sustainability Standards Board starting next year. The reports are now voluntary.