The 2023 impact year in review: Alphabet soup and ESG no more, COP as the new Davos, and more
- Media Manager
- Dec 21, 2023
- 1 min read
Aol.
Written By: Peter Vanham
Published: December 21st, 2023
As the sun sets on another year, it’s time for our year in review. Here’s what we’ve learned in 2023 at Impact Report:
Alphabet soup of ESG reporting no more
Going into 2023, the ESG reporting landscape was like an alphabet soup, with executives often drowning in options of frameworks. But as the year went by, the International Sustainability Standards Board emerged as the framework of choice. Three elements give it an edge:
1. It was backed by the IFRS, which oversees—you guessed the acronym—international financial reporting standards that most global companies use and most regulators accept.
2. It is simple and focused. It deals only with climate-related financial disclosures, rather than delving into social and governance issues as well.
3. It is finance-focused, on how climate risks translate into financial risks and on single (inbound) materiality, rather than the more vague double materiality.
