ESG Reporting & Standards News | ESG & Sustainability | OneStop ESG

Over 500 Global Firms Pledge to Adopt TNFD Framework for Nature and Biodiversity Risk Reporting

At the COP16 Biodiversity Conference, more than 500 companies and financial institutions committed to nature-related risk reporting under TNFD, advancing global sustainability standards.

43% Increase in Corporate Biodiversity Data Reporting, Finds CDP Report

A CDP report reveals a 43% rise in corporate biodiversity data disclosures since 2022. Despite progress, under 10% of companies assess biodiversity dependencies, posing financial risks.

Tata Power and Keppel Partner for Sustainable CaaS in India

Tata Power partners with Keppel to launch sustainable Cooling-as-a-Service (CaaS) in India, aiming to cut energy use by 40% and carbon emissions by 50%, supporting the nation's net-zero goals.

Govt of India Introduces New Guidelines to Curb Misleading ‘Eco-Friendly’ Ads

India's new guidelines against greenwashing require companies to back environmental claims with credible evidence, ensuring truthful marketing. Penalties include fines and imprisonment for violations.

Sustainalytics Launches New Solutions for EU Regulatory Compliance and Reporting

Morningstar Sustainalytics has unveiled a suite of tools to support companies and investors in navigating emerging EU regulatory requirements. As part of the EU Sustainable Finance Action Plan Solutions Suite, these offerings include a Corporate Sustainability Reporting Directive (CSRD) Aligned Data solution, an ESMA Fund Naming Rules Solution, and an enhanced EU Taxonomy solution. The CSRD, which expands mandatory sustainability reporting to over 50,000 companies, introduces comprehensive disclosures on environmental and social impacts. Sustainalytics’ CSRD tool helps companies comply with these new requirements, while aiding investors in analyzing ESG performance across portfolios. The ESMA solution addresses greenwashing concerns by supporting fund compliance with new naming rules, and the EU Taxonomy solution provides detailed data on sustainable economic activities, helping investors with regulatory reporting and green investment strategies. These tools aim to streamline compliance with EU regulations and provide greater transparency in ESG reporting.

Atlas Metrics Secures €12.2 Million to Expand ESG Reporting Platform

Berlin-based ESG software startup Atlas Metrics has raised €12.2 million in Series A funding to expand its team, enter new markets, and enhance its ESG compliance and performance management platform. Founded in 2021, the company helps mid-sized businesses and financial institutions meet regulatory requirements, including the EU’s Corporate Sustainability Reporting Directive (CSRD). Atlas Metrics’ platform automates ESG reporting, utilizing AI and advanced analytics to transform sustainability data into strategic insights. The funding round was led by MMC Ventures, alongside existing investors Cherry Ventures, b2venture, and Redstone.

Hong Kong Introduces IFRS-Aligned Sustainability Reporting Standards

The Hong Kong Institute of Certified Public Accountants (HKICPA) has released drafts for new sustainability and climate-related reporting standards, fully aligned with the IFRS Foundation’s International Sustainability Standards Board (ISSB). These standards are proposed to be effective from August 2025. The initiative follows the Hong Kong government’s vision to develop a robust sustainability disclosure framework for companies, including financial institutions, aligning with global reporting practices. The HKICPA’s proposed standards, HKFRS S1 and S2, mirror IFRS S1 and S2, which were developed by ISSB to offer investors consistent information on companies’ sustainability risks and opportunities. A technical feasibility study conducted in June 2024 supported this alignment. HKICPA President Roy Leung highlighted that these standards will improve the reliability and comparability of sustainability data for investors, while ISSB Vice Chair Jingdong Hua emphasized the benefits of global consistency. The HKICPA is inviting public comments on the drafts until October 27, 2024.

$29 Trillion Investor Coalition Calls for Action on Climate Reporting

A coalition of investors managing $29 trillion urges global governments to implement mandatory climate reporting and tailored sectoral strategies to tackle climate risks effectively.

Worldly Debuts Product Impact Calculator to Simplify Scope 3 Emissions Reporting for the Consumer Goods Industry

FCA Provides Temporary Flexibility on Naming Rules for Sustainable Funds

Australia to Enforce Climate Reporting Requirements Beginning January 1, 2025

AWS and Accenture Enhance ESG Reporting and Data Management through AWS Sustainability Data Fabric