ESG round-up: Most German corporate giants to report on climate under EU rules, survey finds
Responsible Investor 16/07/2024
" Most of Germany's 40 largest companies (DAX 40) will report on ESRS E1 (climate change), ESRS S1 (own worforce) and ESRS G1 (corporate policy) as part of their sustainability reporting in line with the European Sustainability Reporting Standards (ESRS), according to a survey by the Germany Accounting Standards Committee ACSG. It surveyed 34 of the DAX 40 to assess their plans for upcoming mandatory sustainability reporting requirements in the EU. It also surveyed the companies on the number of sustainability topics they plan to report on, which varied hugely from 12 to 86. The ACSG added that nearly half of the companies are currently engaged in discussions with their auditors, while around 40 percent have received a preliminary assessment from their auditors on their approaches to double materiality assessments. (...)
(...) A group of French investors behind a biodiversity fund initiative launched in March has started the process to find an asset manager. The aim of the fund is to promote effective methodologies for considering biodiversity in asset management, and to support investor biodiversity objectives and the restoration of nature. The listed fund will mainly target European small and mid-cap companies, and will have an initial investment of €100 million. The asset manager will be selected in the final quarter of this year. The initiative is coordinated by institutional investor industry body AF2i and supported by French asset management association AFG, the Institut de la Finance Durable and France Assureurs.
Academic think-tank the EDHEC-Risk Climate Impact Institute has found that a lack of government action on climate would wipe out global equity valuations by 40 percent, using a novel climate scenario analysis framework. The findings contrast with current climate scenario practices which have been criticised for suggesting that financial "portfolios would only be marginally impacted, even in high-temperature scenarios that pose existential challenges to our societies". Unlike conventional scenarios which look at the impact of a handful of pre-selected variables, the EDHEC-Risk analysis captures the impacts of a wider range of possible economic and climate outcomes. (...)
(...) The Global Reporting Initiative (GRI) has launched an updated database alongside the United Nations Global Compact (UNGC) for reporting on the SDGs. The database - which was first launched in 2017 - includes an invetory of potential disclosures at the target level for each SDG, based on globally accepted frameworks and standards. (...)
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ESG round-up: Most German corporate giants to report on climate under EU rules, survey finds
About EDHEC
Operating from campuses in Lille, Nice, Paris, London and Singapore, EDHEC is one of the world’s top 15 business schools. Fully international and directly connected to the business world, EDHEC commands a strong reputation for research excellence and the ability to train entrepreneurs and managers capable of breaking new ground. EDHEC functions as a genuine laboratory of ideas and produces innovative solutions valued by businesses. The School’s teaching is inspired by its research work and a focus on “learning by doing”, all with the aim of equipping people with the skills to succeed in business.
