Great article about UK’s new narrative reporting framework for listed companies, banks and insurance enterprises with more than 500 employees that went into effect for financial reporting periods on or after January 1, 2017 . Companies, banks and insurance enterprises will be required...
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Public companies are disclosing additional information besides financial and new platform will take into consideration new data sets of information such as climate change, gender, racial, human trafficking and child labor to directly related public companies to relationships with important local and global stakeholders for better corporate governance. The United Nations is also interested in the European Financial Transparency Gateway that would allow public companies to disclosure data related to the sustainability development goals (SDGs) as interest in climate change disclosures etc. accelerates among investors worldwide.
MY EDITORIAL COMMENT: It would be most helpful if the US Securities & Exchange Commission would at least create a pilot program so it can begin to look at best practices in the corporate world related to these non-financial information reporting disclosures. The United Nations-supported initiative, which includes nearly 300 signatories in the U.S. with $33 trillion in assets under management, is one of a number of responsible investment advocates seeking new SEC guidance or requirements to improve corporate sustainability reporting.
The GAO just issued a report in February 2018 that looks at public company disclosures related to climate change -- why they are important and what both the US SEC and companies can do to address this growing environmental and economic crisis facing all nations. Key findings of the GAO report: The Securities and Exchange Commission’s ability to assess the accuracy of corporate climate risk disclosures is limited , the General Accountability Office said in its report
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