Post by hasan77 on Feb 15, 2024 2:24:39 GMT -5
Because SASB was really in the 10-K, it was pretty much killing any conversation I was trying to have." That was partly because even though CBRE had been reporting the sustainability data for more than a decade, it hadn’t been audited like the financial data disclosed in a typical 10-K, the annual financial report U.S. regulators require publicly traded companies to file. So while CBRE did disclose data under SASB guidelines, those disclosures were not included in its annual financial report. Getting over the hurdles The kind of verification auditing provides is a key principle, GRI’s Hespenheide said: "If I’m going to make a materially impactful financial decision based on that information [provided by a company], I’d like to know that it can be verified and that others would stand behind it.
But if investors aren’t reviewing sustainability reports in addition to financial statements, they may miss critical information. That’s one reason the TCFD report includes a Uruguay Email List recommendation that organizations provide climate-related disclosures in their public financial filings each year, as it concluded that climate-related issues in many cases would be material to investors. But audited financial statements must adhere to stricter standards than other reports and are more expensive and complicated to produce.
Auditing is just one obstacle to integrated reporting. In a global company, gathering all the information needed to meet reporting standards can be challenging, as Leitsch of CBRE found when she experienced resistance in reaching out to other executives for data. "In the end we were able to collect data for all the SASB disclosures for our industry," she said. "It wasn’t complete full global data. It was some data for some regions and some data for other regions and some of the data was available globally, but it was something.
But if investors aren’t reviewing sustainability reports in addition to financial statements, they may miss critical information. That’s one reason the TCFD report includes a Uruguay Email List recommendation that organizations provide climate-related disclosures in their public financial filings each year, as it concluded that climate-related issues in many cases would be material to investors. But audited financial statements must adhere to stricter standards than other reports and are more expensive and complicated to produce.
Auditing is just one obstacle to integrated reporting. In a global company, gathering all the information needed to meet reporting standards can be challenging, as Leitsch of CBRE found when she experienced resistance in reaching out to other executives for data. "In the end we were able to collect data for all the SASB disclosures for our industry," she said. "It wasn’t complete full global data. It was some data for some regions and some data for other regions and some of the data was available globally, but it was something.