Best Practices Revealed for CSR Reports, Carbon Reporting
In late May, two groups have put out guidances on how to properly assemble CSR reports, as well as how to report carbon emissions.
The Climate Disclosure Standards Board, an international climate change body, has developed a draft proposal to help corporations provide sustainability and environmental information in annual reports. The board is accepting comments until Sept. 25.
Recognizing that the global economic slowdown may reduce funds that corporations put toward CSR reporting, the board has strived to streamline reporting as much as possible. In a press statement, Lois Guthrie, CDP’s Technical Director and Secretary to CDSB, said, “The CDSB is about better reporting, not more reporting. The framework draws upon relevant financial and business reporting principles as well as best practice with regard to corporate climate change-related disclosure in order to provide organisations with greater clarity as to what to include in their annual reports.”
PricewaterhouseCoopers has developed a guide for UK firms that must comply with carbon emissions reporting in the UK’s forthcoming Carbon Reduction Commitment legislation. About 5,000 UK firms will be affected by the law, having to enter into a legally binding emissions cap-and-trade scheme.
The report may provide a blueprint for how U.S. firms may have to comply with the cap-and-trade program proposed by the Obama Administration.
The PricewaterhouseCoopers guide, which includes a fictional company, Typico PLC (see example chart above), is referenced in the larger CDSB proposal.
CDSB board members include Carbon Disclosure Project; CERES; The Climate Group; The Climate Registry; International Emissions Trading Association; Richard Samans, Managing Director, World Economic Forum and the World Resources Institute.
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