“It’s mandated in just over 100 of those, and there are tens of millions of companies that file in XBRL around the world. (Many of these companies are private companies that involve the preparation of management accountants outside the USA) John Turner sees the biggest uptake of XBRL globally among financial regulators in the banking, insurance and pension industries, particularly in Asia and Europe
Great article about UK’s new narrative reporting framework for listed companies, banks and insurance enterprises with more than 500 employees that went into effect for financial reporting periods on or after January 1, 2017 . Companies, banks and insurance enterprises will be required to report environmental, social and employee-related matters as well as the companies respect for human rights and anti-corruption and bribery matters
According to InvestmentNews -- regulators such as the Securities and Exchange Commission (US SEC) and the Financial Industry Regulatory Authority (FINRA) are cracking down on companies that fail to incorporate and use technology to stay in compliance with regulatory mandates
US SEC Chair Jay Clayton Urged US Public Companies to Disclosure Human Capital Data on February 6, 2019 : “Today, human capital and intellectual property often represent an essential resource and driver of performance for many companies
The self-assessments are voluntary for US public companies but as a best practice many companies will quickly move forward with voluntary compliance – especially if companies receive an additional alpha from the capital markets for this disclosure from investors
Two-thirds of the European companies are measuring their carbon footprint. We see evidence that integrated reporting and sustainability reporting are becoming more of an issue for U.S companies, with an average of 17 percent of U.S. companies measuring their carbon footprint
Interesting debate yesterday before the US Senate Banking Committee on the topic of expanding disclosures of US companies to include environmental, social and governance data besides just financial disclosures
One “constant refrain” heard from investors is that “if a company is not talking about its sustainability strategy and performance, they may conclude the company does not have a story to tell or, even worse, it’s hiding something.” Ceres offers a set of nine recommendations “to guide companies toward more meaningful and effective investor engagement on ESG issues.”