New ESRS Framework: The Impact on Sustainability Reporting in Europe

Earlier this year, The European Financial Reporting Advisory Group (EFRAG) published the exposure drafts for the new European Sustainability Reporting Standards (ESRS). The development of this framework was requested by the European Commission in response to the need to have a single European-wide framework aligned with the requirements of the new CSRD directive. The draft version of the framework that is still under public consultation by various stakeholders highlights which new non-financial reporting features the European Commission wants to advocate for. Most notably, that of double materiality to determine which sustainability priorities are set to become mandatory, and the reporting sustainability indicators that will have to include the entire value chain and be considered from a short-, medium-, and long-term perspective.

What Each Sector Needs To Do To Achieve Net Zero

The AR6 Climate Change 2022: Mitigation of Climate Change report elaborates on what is required across human society to decarbonize. This final article in the series about the highlights of the latest IPCC reports suggests what each sector can do to at least halve emissions by 2030 and concludes that if ever there was a crucial decade for climate action, it is now.

How to Keep Global Warming to Within 'Safe Levels'

Is it still technically feasible to bring temperatures down to 1.5°C-2°C ? In this third article in the four-part series unpacking the key pieces of information from THE IPCC AR6 reports, we explore which monumental actions will be required to bring temperatures down to a safe level and limit global warming.

Impacts of Climate Change on Human Society

This article, the second in a four-part series unpacking the key pieces of information from the IPCC AR6 reports, provides insights into climate change impacts so far, how they will impact the world in the future, and suggests how humans can adapt.

The Latest Climate Science from the IPCC

The Intergovernmental Panel on Climate Change (IPCC) produces a set of major reports every seven years summarizing the latest climate science and its implications for human society. This article is the first in a series of four blog posts unpacking the key pieces of information from the reports and explores the key highlights from the AR6 Climate Change 2021: The Physical Science Basis report that considers the emissions pathway we are tracking, the topic of abrupt climate tipping points, and the logic of a 1.5°C versus 2°C target.

TCFD Alignment Lessons from the Insurance Industry

As more and more organizations are embarking on the TCFD journey and with the proposal for updating the ESRS being submitted which will incorporate alignment with TCFD, the extent to which organizations will be held accountable for integrating the recommendations will only increase. This article outlines why it is important for insurance companies to be aware of and develop an understanding of climate-related risks and opportunities, provides best practice examples of insurance companies implementing the TCFD recommendations, and suggests three tips for closing the gaps in TCFD alignment.

Winning Sustainability Strategies Online Program: 12 Sept - 6 Oct 2022

The IMD Winning Sustainability Strategies Online Program is a “how-to” guide that offers a very pragmatic take on how to integrate sustainability in your corporate strategy – while ensuring it has a strong business case. The program is aimed at business executives, strategy practitioners and sustainability professionals, who are looking to harness sustainability innovation and its strategic implications. Facilitated by the authors Jan van der Kaaij, Managing Partner of Finch & Beak, and IMD professor Benoit Leleux, this edition starts on 12 September 2022 and registration closes 1 September 2022.

The TCFD Journey: A Roadmap

The most significant risks that organizations face today are related to climate change. The IPCC 2021 report stresses that impacts on climate will only worsen if society is not able to reduce carbon emissions and limit warming to within 1.5°C. The Task Force on Climate-related Financial Disclosures (TCFD) recommendations helps organizations understand climate-related risks and opportunities relevant to them. This article elaborates on the most important TCFD requirements, how organizations can integrate them and a downloadable roadmap outlines the 6 phases of the TCFD journey and suggests key activities, outcomes and tools for each.

Double Materiality Built around the New Solvency II Directive

As European companies are facing and understanding the strong connection between sustainability risks and financial and operational risks, sustainability risks are increasingly becoming more important within the Enterprise Risk Management of these companies. The insurance sector, with the concept of risk ingrained into its nature, is going through a period of transition towards integrating sustainability risks into investment strategies and underwriting activities. This article elaborates on the recently updated Solvency II Directive and discusses practical implications for European insurance companies.

ESG Acceleration Webinar: Materiality in Motion

With the Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards set to take effect in 2023, the sustainability reporting landscape is undergoing major development. On the 21st of June 2022, Finch & Beak organized an ESG Acceleration Webinar on the topic of materiality and the recent developments in the reporting landscape. Guest speaker Virginie Delcroix, Vice-President Sustainable Development at Arkema shed light on the materiality process followed by the company. On behalf of Finch & Beak, Director Consulting Bas Nuijten shared the highlighted changes in ESG reporting in combination with practical implications for companies. This article summarizes the highlights of the session and includes a downloadable checklist with 3 materiality activation tips.