cdsb comply or explain
TRANSCRIPT
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Comply or explainA review of FTSE 350 companies’ environmental reporting and greenhouse gas emission disclosures in annual reports
#complyorexplain
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Caroline MayHead of Safety and Environment�Norton Rose Fulbright LLP
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Lois GuthrieFounding DirectorClimate Disclosure Standards Board
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Agenda
1. Comply or explain – report overview & recommendations2. Reaction of the regulator – Financial Reporting Council3. Reaction of the reporting entity – SAB Miller4. Q&A session
#complyorexplain#complyorexplain
Comply or explain
#complyorexplain
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Elements of reportingComply or explain 6
Objective of reporting
Requirement to deliver
Clear content requirements
Standard for compliance
System for delivery & analysis
Assurance
Review
CDSB: Comply or Explain
Richard Barker28 Jan 2016
Some Headlines
CompaniesEnvironmental factors feature more strongly as principal business risks than as key performance indicators (KPIs)A wide range of KPIs is used, possibly conflicting with the benefits of standardisationEmissions reporting is just one aspect of broader reporting on natural capital impacts and dependenciesScope 3 reporting is limited, suggesting a need to re-think the boundary of the entity
RegulatorsReporting standards are insufficiently harmonisedA ‘market solution’ is unlikely to be sufficientSometimes (but not always) mandatory reporting is the best approachA coordinated, international model is called for
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Stephen HaddrillCEOFinancial Reporting Council
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Communicating SABMiller’s environmental impact
Tom Salisbury
Manager: SD Measurement and Community, SABMiller plc
@tj_salisbury
© SABMiller 2014 12
© SABMiller 2014
Value chain carbon footprint
13
%
© SABMiller 2014 14Presentation information in footer
© SABMiller 2014 15Presentation information in footer
© SABMiller 2014
Thank you
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Q&A
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Thank youRadley Yeldar
www.ry.com
Comply or explain
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Report checker pilot
• Annual report review
• Conformance check with the CDSB Framework
• Feedback briefing
Contact
Désirée LuccheseTechnical Manager, CDSB+44(0)20 381 [email protected]
Comply or explain 19
Advance & align your natural and financial capital reporting
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Thank youE: [email protected]: +44 (0)203 818 3939 www.cdsb.net@CDSBGlobal