Puzzled by the proliferation of seemingly unrelated standard-setting organizations promoting Environmental, Social, and Governance (“ESG” or “Sustainability”) reporting frameworks (and related voluntary and, in some cases required, financial disclosures)?
Well, the Corporate Reporting Dialogue or “CRD” has an answer. On their website, they provide a “map” comparing the frameworks and financial report disclosures issued by eight of the most often cited organizations promoting corporate financial and ESG reporting.
Launched in 2014, the CRD is a collaboration of eight participant organizations that actively promote corporate reporting standards addressing ESG issues, which are the:
- Carbon Disclosure Project (“CDP”),
- Climate Disclosure Standards Board (“CDSB”),
- Financial Accounting Standards Board (“FASB”),
- Global Reporting Initiative, (“GRI”),
- International Accounting Standards Board (“IASB”),
- International Integrated Reporting Council (IIRC”),
- International Organization for Standardization (“ISO”), and
- Sustainability Accounting Standards Board (“SASB”).
Per its website, the CRD was formed by the participant organization as a response to “market calls for greater coherence, consistency and comparability between corporate reporting frameworks, standards and related requirements.”
In 2015, the CRD issued a clear and concise chart comparing various elements of the ESG reporting issued by its participating organizations. Their chart “maps” the various frameworks’ purpose, scope, and contents.
Another useful “tool” available from the CRD website is a paper comparing its participants’ “materiality” definitions and approaches.
Information about the CRD’s recent activities is available from their website at: http://corporatereportingdialogue.com/