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On 16 January, EFRAG approved the draft standards for non-EU companies reporting to the NESRS. When these standards come into force, they will be mandatory for companies headquartered outside of the EU with significant operations in the EU. NESRS-aligned reports will be published in 2029 based on 2028 information. A reminder of the scope for NESRS companies: • Net turnover at group level of more than €150m in the EU for each of the last two consecutive financial years and • Either one subsidiary incorporated in the EU that is subject to the CSRD, or one branch located in the EU with over €40m in revenue. Unlike the ESRS for EU companies, the NESRS do not require in-scope entities to conduct a double materiality assessment. These companies are only required to consider their outward sustainability-related impacts and are not required to report their risks and opportunities. Read the paper for the 15 January meeting here: https://lnkd.in/eeisTsAj #esg #nossadata #efrag #sustainability #csrd

The TNFD has released its second tranche of sector guidance. Final sector guidance is now available for Apparel, textiles & footwear, Beverages, Construction materials, and Engineering, construction & real estate, bringing the total number of sectors covered by TNFD’s final guidance to 13. Draft guidance for the following sectors has been published for consultation, open until 4 April 2025: • Fishing • Marine transportation & cruise lines • Water utilities & services Once finalised, these additions will increase the total sector coverage to 50% of the SICS industries by June 2025. The sector guidance complements TNFD’s core recommendations and LEAP assessment approach, enabling companies to incorporate nature-related risks and opportunities into governance, strategy, risk management, and disclosures. Over 500 organizations in more than 50 jurisdictions are already utilizing these recommendations in their sustainability reporting efforts. More details, including the draft guidance consultation, can be found here: https://lnkd.in/eteM46de Learn more about TNFD and how we support it here: https://lnkd.in/eY3Tm9Dh #esg #tnfd #biodiversity #nossadata #sustainability

The World Benchmarking Alliance (WBA) has published its 2025 Financial System Benchmark, evaluating 400 financial institutions including banks, insurers, asset managers, and sovereign wealth funds on their contributions to a sustainable global economy. The benchmark focuses on governance, climate, nature, and social issues, assessing how these institutions align their activities with global development goals. Key findings from the 2025 assessment include: • Leadership and responsibility: 60% of institutions assign responsibility for implementing sustainability, yet only 1% link financing activities to measurable impacts. • Support for sustainable development: Only 6% of institutions provide financing support to low- and lower-middle-income countries, reflecting a gap in addressing development challenges. • Transition planning: Just 3% of institutions have comprehensive plans to support the energy and climate transition, indicating room for improvement in addressing systemic risks. For the full list of how companies performed and the rankings, visit the WBA's website: https://lnkd.in/emPbX3U9 #sustainability #financialinstitutions #climatefinance #sustainabledevelopment #esg

The S&P Global 2025 Sustainability Trends Report highlights 10 key megatrends shaping the future of sustainability strategies globally. From climate finance to AI and biodiversity, these trends underline the complex interplay of policy, market forces, and innovation driving change. Key insights: • Policy & geopolitics: 2024 election outcomes in over 60 countries will influence global sustainability and energy strategies, with geopolitical shifts testing corporate resilience. • Energy transition: Global energy demand continues to grow, driven by data centre expansion and technology adoption, complicating the path to decarbonisation. • Physical climate risks: Only 1 in 5 companies has an adaptation plan to address physical climate risks, despite worsening climate hazards and tightening disclosure standards. • Climate finance: Emerging markets and developing countries face a $3 trillion annual funding gap by 2035, requiring scaled-up private capital mobilisation. • Carbon markets: Agreements on Article 6 of the Paris Agreement will clarify rules and drive investment in carbon markets globally. [blog: covers the remaining points] • Nature & biodiversity: Latin America leads biodiversity commitments, with a high proportion of companies pledging net positive impacts and no deforestation. • Supply chain sustainability: Approximately only 17% of companies screen suppliers for ESG risks, highlighting a significant gap in sustainable supply chain management. • As developed nations decarbonize, emerging markets face challenges balancing affordable energy access with low-carbon development. • AI's dual role: AI adoption is projected to more than double electricity demand in data centres by 2029, complicating net-zero ambitions. • Sustainability reporting: The two leading standard-setters are GRI and SASB and 2025 marks the first year of reporting under the EU’s CSRD, promoting double materiality. Read the full summary here: https://lnkd.in/eaxkHGPc Explore the full report here: https://lnkd.in/evAqEUge #sustainability #climatefinance #sustainabilityreporting #esg #nossadata

The International Auditing and Assurance Standards Board (IAASB), under the leadership of Chair Tom Seidenstein, has outlined its key priorities for 2025. These include advancing sustainability assurance, revising standards on fraud, and focusing on technology to enhance audit quality. Key initiatives for the year: • The IAASB, in collaboration with the International Ethics Standards Board for Accountants (IESBA), will launch a support plan for ISSA 5000, its new standard for sustainability-related assurance, by the end of January. • Revisions to the fraud standard are scheduled for approval in March, completing an important project on this topic. • Proposed amendments to assurance standards for these entities, aimed at aligning with IESBA’s updated code of ethics, will undergo public consultation in the first quarter and are expected to be finalized by June. • The IAASB has committed to incorporating technology into its standards. Revisions to Audit Evidence and Risk Response standards are part of this effort, with completion targeted for 2027. Updated project timelines will reflect this focus. These priorities underscore the IAASB's commitment to supporting high-quality implementation of its standards, fostering public trust, and addressing evolving challenges in audit and assurance. Read more here: https://lnkd.in/eP3xn6Zz #esg #iaasb #sustainabilityassurance

EFRAG published additional explanations to its Q&A Compilation of Explanations PDF to support preparers in reporting to the ESRS. The additional explanations bring the total questions answered to 162. The new additions relate to Climate Change mitigation and adaptation targets and to Biodiversity and Ecosystems, and may be particularly relevant to certain sectors. The Explanations will later be added to the next major update to the Compilation of Explanations expected to be released in Spring 2025. Find the latest explanations here: https://lnkd.in/diNJ5RCC 

We are excited to announce that we have officially become a Friend of EFRAG - Sustainability Reporting! This partnership reflects our commitment to sustainable business practices and supports EFRAG’s mission to advance sustainability reporting while promoting European perspectives in corporate reporting. What does this friendship mean? Nossa Data has recognised the importance of contributing to the development of draft ESRS and supporting EFRAG's activities. By joining Friends of EFRAG - Sustainability Reporting, we have chosen to provide our individual support to further EFRAG's initiatives in this field. We look forward to collaborating with EFRAG and other members to shape the future of sustainability reporting from Europe. Find out more: https://lnkd.in/eUhb4Zcy #esg #nossadata #sustainability #corporatereporting #efrag

As we enter 2025, this visual highlights some of the key frameworks, standards and rating agencies alongside their respective disclosure periods. These frameworks are instrumental in guiding organisations in their ESG reporting practices throughout the year and ensuring compliance and enhancing transparency. Learn more about these frameworks here: • ESRS: https://lnkd.in/e8qW-sxd • CDP: https://lnkd.in/ePGN7E2K  • EcoVadis: https://lnkd.in/ejJadrVv Improve and report to each of these frameworks and more with Nossa Data platform here: https://lnkd.in/exXrisn3 #esg #sustainability #esgreporting #2025 #nossadata

As ESG regulations evolve worldwide, businesses face increasing expectations to disclose their sustainability practices. This visual provides an overview of major ESG regulatory frameworks shaping corporate reporting across key regions. Key Highlights: • EU: The CSRD and SFDR are setting new benchmarks for comprehensive ESG reporting, while the EU Taxonomy directs investments toward sustainable activities. • US: The SEC’s Climate Disclosure Rules and California’s SB 253 focus on transparency and emissions reporting, paving the way for broader ESG adoption. • UK: The introduction of SDS and SDR in 2025 aligns UK reporting with global frameworks like IFRS and enhances transparency. • Canada: With guidance from the CSA and mandatory disclosures for federal contractors, Canada emphasises best practices in ESG reporting. • Asia: Countries like China, Japan, and India are developing robust ESG frameworks, from governance codes to national sustainability regulations. • Africa: Nations like South Africa and Egypt are advancing corporate climate disclosure and transparency. • South America: Brazil and Chile are leading ESG efforts, with regulations targeting financial institutions and investor transparency. With varied regulations across regions, companies need to adapt to meet local and global ESG expectations. For more on ESG insights visit: https://lnkd.in/evP4QDMT #esg #sustainability #csrd #nossadata #esrs

The UK SECR framework plays a key role in advancing energy transparency and efficiency across the UK. Designed to drive action on energy use and carbon emissions, SECR supports businesses in aligning with sustainability goals. The visual offers a snapshot of its key elements: • Aims • Scope • Reporting requirements for different types of organisations. Whether you’re navigating mandatory disclosures or exploring voluntary measures, SECR provides a clear framework for meaningful progress in energy and carbon management. For more information about SECR, visit: https://lnkd.in/eg4iWP8t #secr #sustainability #esg #carbonreporting #transparency #energy