Understanding Reporting Requirments
The International Sustainability Standards Board (ISSB), a London-based group under the International Financial Reporting Standards (IFRS), recently released comprehensive standards for sustainability reporting, potentially becoming the global standard. These standards, relevant for companies with net-zero pledges, could soon be required by regulatory bodies like the SEC, California, and the EU. In a series of upcoming blog posts, we'll explore what these standards mean for supply chain managers and discuss methods of measuring emissions aligned with the ISSB’s guidance. Understanding these standards is crucial for companies committed to sustainability, as failure to comply could lead to legal exposure, even without specific regulations in place. The standards require reporting material information, which includes significant Scope 3 emissions, emphasizing the importance of measuring and reporting emissions from manufacturing, sourcing, transportation, and distribution. Stay tuned for more insights into navigating sustainability reporting in the supply chain.
