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Duncan Wilson and Emilie Pons

This training course is entitled Sustainability and Climate Reporting, the ultimate guide. I have called it that because I have spent a few hundred hours of my time researching the area of reporting and decided to include all the relevant topics that a person who is new to this area would expect. I tried to avoid covering too much technical knowledge to make this training course digestible for everyone in all the different activities in the world of government, non-government and corporate organisations that need to report on how they are tackling sustainability and climate issues.

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This training course is entitled Sustainability and Climate Reporting, the ultimate guide. I have called it that because I have spent a few hundred hours of my time researching the area of reporting and decided to include all the relevant topics that a person who is new to this area would expect. I tried to avoid covering too much technical knowledge to make this training course digestible for everyone in all the different activities in the world of government, non-government and corporate organisations that need to report on how they are tackling sustainability and climate issues.

There are three parts to this training course:

Part 1 is entitled building blocks. This is where I cover the individual components of sustainability and reporting since environmental reporting started after the Exxon Valdez oil spill in 1989.

Part 2 covers the developments in reporting since 2017 when the Task Force on Climate-related financial disclosures published its report and recommendations. I then move on to cover more recent events when in June 2023 the International Financial Reporting Standards Foundation’s International Sustainability Standards Board published IFRS S1 on sustainability-related financial disclosures and S2 on climate-related financial disclosures. At the same time, the Sustainability Accounting Standards Board, in addition to its existing 77 standards on sustainability-related financial disclosures also published its industry guidance document for  I will also cover the recent Task Force on Nature-related financial disclosures.

Part 3 is entitled Sustainability and climate-related reporting 2024 to 2025. In this part I will cover the following three topics: 1) The European Union’s Corporate Sustainability Reporting Directive or CSRD, 2) the Task Force for Climate-related disclosures final report and 3) a look to the future and what it might hold on this important area of activity.

The main purpose of this training course is to explain the sustainability-related and climate-related reporting requirements of all the world’s major international associations and regulators and give you some examples of how these international standards have been implemented in individual countries and regional jurisdictions.

In conclusion, there has been a lot of progress on this subject in the last two to three years and we are at a stage where global standards of best practice have emerged as well as a lot of voluntary, and some compulsory, reporting standards. These are currently being implemented in some jurisdictions in accordance with newly enacted, legally binding, laws and regulations and, as a chartered accountant as well as risk manager, I wanted to contribute to these efforts through the domain of education, hence making this training course for everyone who are either merely interested, or those of you already working or about to start working, on this vast subject.

I hope you enjoy this training course and look forward to hearing from you regarding your feedback about the material.

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What's inside

Syllabus

Introduction
Part 1: Building Blocks
2. Part 1 Building blocks structure
Section 1.1.1 Exxon Valdez and Ceres
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SASB

Greenhouse Gas Protocol, part 1

Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Covers the sustainability-related and climate-related reporting requirements of major international associations and regulators, which is essential for professionals in various sectors
Explores the Corporate Sustainability Reporting Directive (CSRD) of the European Union, which is crucial for understanding evolving regulatory landscapes
Examines the Task Force on Nature-related Financial Disclosures (TNFD), which is a recent development in sustainability reporting
Discusses the Greenhouse Gas Protocol, which is a widely used standard for measuring and reporting greenhouse gas emissions
Includes the Sustainability Accounting Standards Board (SASB) standards, which may require learners to familiarize themselves with 77 standards
Addresses the Task Force on Climate-related Financial Disclosures (TCFD) final report, which may be superseded by more recent reporting standards

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Reviews summary

Comprehensive guide to sustainability reporting standards

According to learners, this course provides an excellent, comprehensive guide to sustainability and climate reporting standards. It covers the major frameworks including GRI, SASB, TCFD, IFRS S1/S2, TNFD, and CSRD. Students appreciate that the content is up-to-date, reflecting recent developments like the June 2023 standards. The course structure is described as logical and easy to follow, with the instructor explaining complex topics clearly. While providing a strong foundation, some reviewers felt it lacks sufficient practical depth for those needing to perform the reporting tasks themselves, suggesting it's more of a comprehensive overview than a hands-on guide for practitioners.
Course is well organized and easy to follow.
"The structure is logical, starting with history and moving to current and future standards."
"It's structured well and easy to consume in bite-sized pieces."
"Easy to follow structure."
Content reflects recent standards and updates.
"The content is up-to-date, reflecting the June 2023 standards."
"The latest updates are included, which is crucial in this fast-moving field."
"I appreciated the effort to include the latest developments (June 2023)."
Complex topics explained clearly and effectively.
"The lectures are clear and easy to follow."
"It demystifies complex sustainability reporting frameworks."
"The lecturer is knowledgeable and articulate."
"Instructor's passion is evident."
"Instructor explains complex topics clearly."
Covers major reporting frameworks in depth.
"The course covers GRI, SASB, TCFD, IFRS S1/S2, TNFD, and CSRD effectively."
"Good overview of the main reporting frameworks... IFRS S1/S2 and CSRD particularly helpful."
"Covers all the key standards (GRI, SASB, TCFD, IFRS S1/S2, TNFD, CSRD)."
"A very comprehensive course. Covers the key frameworks like GRI, SASB, TCFD, IFRS, CSRD."
Good overview but may lack practical depth.
"It's a good starting point, but not the 'ultimate guide' for practitioners in my opinion."
"While it covers a lot of ground, the depth felt lacking for someone who needs to *do* the reporting."
"The course provides a solid foundation, but you might need to delve deeper into specific standards for practical implementation..."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Sustainability and Climate Reporting: the Ultimate Guide with these activities:
Review Greenhouse Gas Protocol
Refresh your understanding of the Greenhouse Gas Protocol to better grasp emissions reporting requirements covered in the course.
Show steps
  • Review the scope 1, 2, and 3 emissions categories.
  • Study the calculation methodologies for different emission sources.
  • Familiarize yourself with the reporting guidelines.
Review 'The Economics of Biodiversity: The Dasgupta Review'
Expand your understanding of the economic rationale behind nature-related financial disclosures by reviewing this report.
Show steps
  • Read the executive summary and key chapters on natural capital accounting.
  • Identify the main recommendations for policymakers and businesses.
  • Consider how the review's findings relate to the TNFD framework.
Review 'Sustainable Finance: The Law and Practice'
Gain a deeper understanding of the financial aspects of sustainability reporting by reviewing this book.
Show steps
  • Read the chapters on ESG investing and climate risk management.
  • Take notes on the key legal and regulatory frameworks discussed.
  • Consider how the concepts relate to the reporting standards covered in the course.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Create a Compilation of Sustainability Reporting Frameworks
Improve your understanding of the landscape of sustainability reporting by compiling a resource guide.
Show steps
  • Gather information on GRI, SASB, TCFD, IFRS S1/S2, and CSRD.
  • Summarize the key features and requirements of each framework.
  • Create a table comparing the frameworks side-by-side.
  • Include links to official resources and guidance documents.
Write a blog post on CSRD's Double Materiality
Solidify your understanding of the CSRD's double materiality concept by writing a blog post explaining it to a general audience.
Show steps
  • Research the CSRD's double materiality requirement.
  • Outline the key aspects of the concept in simple terms.
  • Provide examples of how companies can apply double materiality in their reporting.
  • Publish the blog post on a platform like Medium or LinkedIn.
Develop a Sustainability Report Outline
Apply your knowledge by creating a detailed outline for a sustainability report based on IFRS S1 and S2 standards.
Show steps
  • Choose a publicly traded company to focus on.
  • Research the company's existing sustainability initiatives.
  • Develop an outline covering governance, strategy, risk management, metrics, and targets.
  • Include specific examples of disclosures the company could make.
Create a TCFD Scenario Analysis Presentation
Practice applying the TCFD recommendations by creating a presentation outlining a climate scenario analysis for a specific company.
Show steps
  • Select a company and research its operations and climate risks.
  • Choose two or three climate scenarios (e.g., 2°C warming, 4°C warming).
  • Analyze the potential financial impacts of each scenario on the company.
  • Develop a presentation summarizing the analysis and its implications.

Career center

Learners who complete Sustainability and Climate Reporting: the Ultimate Guide will develop knowledge and skills that may be useful to these careers:
Sustainability Reporting Manager
A sustainability reporting manager is responsible for collecting, analyzing, and reporting on an organization's sustainability performance. This involves working with various departments to gather data, ensuring data accuracy, and preparing sustainability reports. The Sustainability and Climate Reporting course can help aspiring sustainability reporting managers by providing a comprehensive overview of sustainability reporting frameworks. A sustainability reporting manager will particularly appreciate the lessons on GRI, SASB, IFRS S1 and S2, and the Task Force on Nature-related Financial Disclosures.
Sustainability Consultant
A sustainability consultant helps organizations reduce their environmental impact and improve their sustainability performance. This often involves assessing current practices, identifying areas for improvement, and developing sustainability strategies. The Sustainability and Climate Reporting course helps those aspiring to be sustainability consultants by providing a comprehensive understanding of sustainability reporting frameworks like GRI, SASB, and the Greenhouse Gas Protocol. This course also explains the reporting requirements of major international associations and regulators, giving aspiring sustainability consultants a firm grasp of the knowledge they will need. Learning about the EU's Corporate Sustainability Reporting Directive or CSRD may be helpful, as well.
ESG Consultant
An Environmental Social Governance consultant helps organizations integrate environmental, social, and governance factors into their business strategies and operations. The Sustainability and Climate Reporting course provides an overview of sustainability reporting frameworks and standards, such as the GRI, SASB, and IFRS, which an environmental social governance consultant needs to know. This course covers the recent developments in reporting since 2017, explaining the reporting requirements of all the world's major international associations and regulators.
Carbon Footprint Analyst
A carbon footprint analyst measures and analyzes the greenhouse gas emissions associated with an organization's activities, products, or services. This involves collecting data on energy consumption, transportation, and waste generation. To be a carbon footprint analyst, you will want to study the Greenhouse Gas Protocol. The Sustainability and Climate Reporting course dives into the Greenhouse Gas Protocol. Understanding the protocol and its implications is essential for accurately assessing and managing carbon footprints.
Climate Risk Analyst
A climate risk analyst assesses the potential financial and operational impacts of climate change on an organization. This includes identifying climate-related risks and opportunities, developing climate risk models, and recommending strategies for mitigating climate risks. This Sustainability and Climate Reporting course offers a solid overview of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and the International Financial Reporting Standards (IFRS) S1 and S2, which are crucial for climate risk assessment. This course may be helpful in developing your understanding of climate-related financial disclosures. This makes the course particularly useful for aspiring climate risk analysts.
Environmental Social Governance Analyst
Environmental social governance analysts evaluate companies based on their environmental, social, and governance practices. This information is then utilized by investors to make informed decisions about where to allocate capital. To excel as an environmental social governance analyst, understanding sustainability reporting frameworks is critical. The Sustainability and Climate Reporting course explains the global standards of best practice and voluntary and compulsory reporting standards. You may find the lessons on the Sustainability Accounting Standards Board and the Greenhouse Gas Protocol to be particularly relevant.
Corporate Sustainability Manager
A corporate sustainability manager develops and implements sustainability initiatives within a company. This includes setting sustainability goals, tracking progress, and communicating sustainability performance to stakeholders. The Sustainability and Climate Reporting course can help aspiring corporate sustainability managers by explaining the sustainability and climate-related reporting requirements of international associations and regulators. This course also covers important topics such as the EU's Corporate Sustainability Reporting Directive (CSRD) and the Task Force on Climate-related Financial Disclosures (TCFD).
Environmental Compliance Manager
An environmental compliance manager ensures that an organization complies with environmental regulations and standards. This involves monitoring environmental performance, conducting audits, and developing compliance programs. This course can help environmental compliance managers understand the evolving landscape of sustainability reporting, including the European Union's Corporate Sustainability Reporting Directive (CSRD) and the Task Force on Climate-related Financial Disclosures (TCFD).
Sustainability Analyst
A sustainability analyst supports sustainability initiatives by collecting and analyzing data, conducting research, and preparing reports. The Sustainability and Climate Reporting course may be useful to a sustainability analyst because it provides a comprehensive overview of sustainability reporting. This course covers the individual components of sustainability and reporting. It also touches upon recent events and the Task Force on Nature-related Financial Disclosures.
Chief Sustainability Officer
A chief sustainability officer is a senior executive responsible for leading an organization's sustainability efforts. This includes developing and implementing a sustainability strategy, engaging with stakeholders, and overseeing sustainability reporting. While this role typically requires extensive experience, the Sustainability and Climate Reporting course may be useful for laying a foundation in the knowledge and topics that a chief sustainability officer needs to know. This course covers the evolution of sustainability reporting, global standards of best practice, and legally binding laws and regulations.
Climate Change Adaptation Planner
A climate change adaptation planner develops strategies and plans to help communities and organizations adapt to the impacts of climate change. This includes assessing climate risks, identifying vulnerabilities, and developing adaptation measures. The Sustainability and Climate Reporting course offers insights into climate-related risks and reporting frameworks like the TCFD and IFRS S2. Any climate change adaptation planner may find the lessons on the Task Force on Nature-related Financial Disclosures to be especially helpful.
Impact Investing Analyst
An impact investing analyst evaluates investment opportunities based on their social and environmental impact, in addition to financial returns. The Sustainability and Climate Reporting course may prepare you to analyze a company's sustainability initiatives. This course explains the sustainability and climate-related reporting requirements of all the world’s major international associations and regulators.
Environmental Health and Safety Specialist
An environmental health and safety specialist ensures that workplaces are safe and compliant with environmental regulations. The Sustainability and Climate Reporting course may inform environmental health and safety specialists of current reporting standards. An environmental health and safety specialist may find this course useful when reporting an organization's sustainability performance.
Environmental Lobbyist
An environmental lobbyist advocates for environmental policies and regulations. While a law degree is often required, the Sustainability and Climate Reporting course may be helpful to an environmental lobbyist because it covers the evolution of environmental and climate standards, voluntary and compulsory reporting standards, and recently enacted legally binding laws and regulations.
Business Development Manager
A business development manager identifies and develops new business opportunities for an organization. The Sustainability and Climate Reporting course can help aspiring business development managers understand how sustainability and climate-related reporting affects business strategy. You may find that understanding sustainability initiatives may yield new opportunities.

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Sustainability and Climate Reporting: the Ultimate Guide.
This review provides a comprehensive economic framework for understanding biodiversity and its importance to human well-being. It highlights the need for incorporating natural capital into economic decision-making. Reading this review will provide a broader understanding of the environmental context for sustainability reporting, particularly in relation to the Task Force on Nature-related Financial Disclosures (TNFD). adds depth to the course by exploring the economic foundations of sustainability.
Provides a comprehensive overview of the legal and practical aspects of sustainable finance. It covers topics such as green bonds, ESG investing, and climate risk management. It useful reference for understanding the broader context of sustainability reporting and how it relates to financial markets. This book adds breadth to the course by exploring the financial implications of sustainability.

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