Sustainability is becoming front and centre in business reporting. It is no longer possible to ignore or see as a ‘nice to have’. In the latest BVRLA blog, Dr Marc Lepere from King’s Business School digests what standards are in place and how members can get ahead.
Marc – also co-founder of ESG reporting platform, Omnevue – explains how the IFRS S1 and S2 standards, set to become mandatory, put sustainability front and centre in the reporting process. He goes on to provide three key insights that are essential for members to grasp in this era of transformative financial regulations.
In the blog, Marc says; “Sustainable business practices aren't just beneficial for the environment and society; they can significantly impact the bottom line. By incorporating sustainability into financial reporting, companies can navigate risks, stay ahead of market trends, and bolster resilience against potential disruptions.”
Marc explains how a crucial aspect of IFRS S2 is the disclosure of Scope 1, 2, and 3 CO2e emissions under the Greenhouse Gas Protocol. This new requirement aims to increase transparency regarding a company's carbon footprint, allowing stakeholders to make more informed decisions.
Members can take advantage of an exclusive discount with Omnevue, read the blog in full and find out more: The Future of Financial Reporting: IFRS S1 and S2 Standards explained.