On February 17, 2014, the Climate Disclosure Standards Board (CDSB) published for consultation draft edition 2.0 of its new reporting framework. CDSB’s climate change reporting framework, first published in 2010, is a voluntary reporting framework designed to help organisations prepare and present environmental information in mainstream reports for the benefit of investors. This draft edition sets out an approach for organisations to use when reporting certain environmental information (particularly greenhouse gas emissions, climate change-related risks, opportunities and strategies, forest risk commodities and water) in or linked to their mainstream corporate reports. The deadline for responses is May 19, 2014. The CDSB also confirms that it will be publishing two discussion papers on fossil fuel energy resources and organisational boundaries respectively as part of this consultation.
The framework focuses on:
- Environmental subject matter: This includes climate change, fossil fuel energy resources, forest risk commodities and water as factors that operate as a single system and together affect an organisation’s ability to create or erode economic, social and environmental value.
- The mainstream reporting model: This recognises that there are gaps and conceptual challenges as well as opportunities in the existing corporate reporting model that need to be addressed or developed to support environmental reporting.
- Investors as consumers of information in mainstream reports: This also includes the stewardship duties of investors over the allocation of capital.