The Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI) announced ahead of the Global Climate Action Summit (GCAS) last week that they will move forward soon with a Bloomberg-funded effort to bring their standards in line with each other wherever possible.
The joint effort is aimed at simplifying reporting standards to align with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), a global group established by the Financial Standards Board after the G20 summit in 2015. The TCFD’s recommendations, released in June 2017, offer a disclosure framework built around getting financial markets participants the information they need about how climate-related issues may affect their companies or investments.
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