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CA Ravi Taori
impacts, addressing all stakeholders.
Carbon Disclosure Project (CDP): CDP captures environmental performance data related to emissions,
water, forests, and supply chain, addressing investors, buyers, and stakeholders.
International Integrated Reporting Framework (IIRC): IIRC has principles and elements for companies to
produce integrated reports, covering overview, governance, business model, risks, strategy, and outlook.
Developments
2015 Climate Disclosure Efforts: TCFD, founded in 2015, aids consistent climate disclosures, particularly for
financial firms. CDSB promotes climate disclosures and offers a relevant framework.
September 2020 Initiative: Institutions collaborated in September 2020 for a unified corporate reporting
system, emphasizing guidance, integration with Financial GAAP, and stakeholder collaboration.
IFRS Foundation 2021 Actions: In November 2021, IFRS Foundation revised its Constitution for the new
ISSB, addressing ESG reporting needs with global sustainability standards focus. ISSB adapted to IFRS
Sustainability Disclosure Standards. The Value Reporting Foundation, birthed from a SASB and IIRC merger,
collaborates on an Integrated Reporting Framework with IASB and ISSB.
ISSB's 2022 Proposals and Standards: In March 2022, ISSB introduced climate and sustainability standards.
IFRS S1 blends TCFD recommendations and SASB's industry-specific inputs.

(CNO SDG.080) Integrated reporting
There are 6 Cs of Integrated Reporting – also known as 6 capitals:
i) Financial Capital:
Available funds to the organization obtained through financing like debt, equity, or grants, or generated from
operations or investments.
ii) Manufactured Capital:
Human-created equipment and tools used in the production of goods or services, including infrastructure like
roads, ports, and water treatment plants.
iii) Natural Capital:
Inputs to production and services. Impacted by an organization’s activities. Includes water, land, minerals,
forests, and ecosystem health.
iv) Human Capital:
Skills, experience, alignment with the organization’s values, understanding of strategy, and motivation to
innovate and improve.
v) Social Capital:
Institutions and relationships enhancing well-being. Includes common values, trust with stakeholders, and an
organization’s social license to operate.
vi) Intellectual Capital:
Determines an organization’s competitive advantage linked to R&D, innovation, and external relationships.

The Asia Pacific region leads in sustainability data presentation in annual reports, with 60% of companies
reporting in 2022. Integrated reporting is prominent in the Middle East.

(CNO SDG.100) Global Scenario in Various Countries
United States
- SEC Climate-Risk Disclosure & TCFD Recommendations:
SEC's 2022 proposals enhance climate-risk disclosures for companies, based on TCFD guidelines.
- Reporting Includes:
Focus on climate risk management, financial impacts, risk mitigation, and related plans/goals.

United Kingdom
- Net Zero by 2050:

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