Great article from the global law firm of Baker McKenzie about mandatory requirements from securities regulators for public company sustainability disclosure that also needs to be included in financial reporting as a company “best practice.”
US SEC Seeks Public Comments on Modernization of Public Company Disclosures On April 13, 2016 The Securities and Exchange Commission voted to issue a "Concept Release" seeking public content on the form and content of disclosures made by US public companies to improve the usefulness of disclosures, making them more "effective" to investors and other stakeholders in the capital markets
Interesting article in the UK’s Financial Director about yearend non-financial reporting required by UK companies as part of the EU mandate for 6,000 + public company requirement to report non-financial information to the capital markets and important stakeholders such as investors
Jean Rogers and her comment letter to the US SEC’s Concept Release on Business and Financial Disclosure Required by Regulation S-K for US Public Companies. The US SEC Concept Release discusses the concept of sustainability reporting by public companies as part of the disclosure process by companies to the global capital markets
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Tech Alert: US SEC Chair Mary Jo White released a statement at an Open Meetings yesterday (April 13, 2016) on Regulation S-K Concept Release and use of Inline XBRL for better public company financial disclosure. Mary Jo White hinted at the open meeting of the US SEC that the agency is prepared to move forward with Inline XBRL for public company financial disclosure
Great article from the European Securities Market Authority on what EU public companies must do using the new Inline XBRL Global Data Standard for Better Transparency & Accountability by putting financial and non-financial financial statement info in a machine-readable format
This rule is a major CSR/ESG/Sustainability Initiative for Public Company Disclosure
"When governments respond to water shortages by boosting efficiency and allocating even 25 percent of water to more highly-valued uses, losses decline dramatically and for some regions may even vanish." US public companies are beginning to understand the value of using water in a more sustainable manner and issuing external reports to stakeholders and investors on water consumption and better management using reporting standards such as CDP
By having better data and access to data for the public/investors -- the EU hopes that transparency and accountability will drive better investment and loyalty through sustainable relationships. Public companies are disclosing additional information besides financial and new platform will take into consideration new data sets of information such as climate change, gender, racial, human trafficking and child labor to directly related public companies to relationships with important local and global stakeholders for better corporate governance. The United Nations is also interested in the European Financial Transparency Gateway that would allow public companies to disclosure data related to the sustainability development goals (SDGs) as interest in climate change disclosures etc. accelerates among investors worldwide.
According to the most recent posting by Broc Romanek of CorporateCounsel.net the US SEC is actively moving forward on public company disclosure of sustainability/ corporate social responsibility reporting – also know as “non-financial” – “integrated reporting” -- including disclosing such topics as board diversity. Non-financial reporting, such as sustainability and CSR/ESG reporting has expanded over the last twenty years. Many US public companies now produce an annual sustainability report (independent of the annual financial report) and there are a wide array of ratings and standards around