Abstract
At present, a growing number of organizations are providing information on environmental, social, and governance (ESG) issues through a variety of reports. However, concerns about the lack of materiality, the low level of the quality of assurance and the lack of comparability of information has risen. In response, the IFRS Foundation announced the International Sustainability Standards Board (ISSB) at the United Nations Climate Change Conference (COP26), which has integrated all global sustainability standard-setters except the Global Reporting Initiative (GRI). The aim of this study is to analyse the applicability of the climate change disclosure requirements developed by these three models to public administrations. A group of major cities from Europe, North America, Latin America, and Asia that have excelled in achieving the Sustainable Development Goals (SDGs) is analysed. Then, the study focuses on the information provided on climate change, metrics used, and their comparability with the ISSB, EFRAG, and GRI requirements. ISSB focuses on the climate change related to financial information disclosures (financial materiality) supplemented by industry-specific indicators and metrics, and the EFRAG also addresses the climate change impact on people (impact materiality). The analysis of the applicability of these frameworks provides insight into whether measuring the impact of climate change on people requires additional metrics beyond those related to financial information. The comparison of actual climate change information disclosed by municipalities, disclosure requirements of standard-setters, and concerns of stakeholders provide a starting point to set up future developments of International Public Sector Sustainability Standards (IPSSS) on climate change.
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
Technical, Political, and Social Responses
KEYWORDS
Sustainability-reporting, ISSB-EFRAG-reporting, LG-value chai-impact
