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Compliance and practicalities of using CDSB's Framework
The document discusses the Climate Disclosure Standards Board's (CDSB) reporting framework aimed at integrating climate change-related information into mainstream corporate reporting. It highlights the importance of connecting financial and non-financial data, improving compliance with regulatory requirements, and adapting corporate strategies to address climate risks. The framework aims to standardize climate risk reporting and enhance transparency for stakeholders, thus supporting informed decision-making in finance and management.
Compliance and practicalities of using CDSB's Framework
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- 4. @CDSBGlobal The$integra+on$of$climate$change1related$ informa+on$into$mainstream$corporate$repor+ng.$ Objec,ve' ''When?' January'2007:'Launched'at'World'Economic'Forum,' Davos,'managed'as'a'special'project'of'CDP' Climate'change' informa,on'in'CDP' disclosure' ' CDSB’s' Framework' Annual'Report' ''Members' • Main'accountants,' ACCA,'ICAEW'…' • GHG'NGOs'e.g.'GHG' management'ins,tute,' Carbon'Tracker,'TCR' • Investors,'e.g.'Investor' Group'on'Climate' Change,'Ceres' • Business,'e.g.''WBCSD,' BT,'WEF' Standardize'climate'change`related'repor,ng' for'fair'and'transparent'markets' ''Why?' The'need'for'CDSB’s'Repor,ng'Framework'
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- 6. @CDSBGlobal Communicating Climate Change “Reportingfrom the principle of communication rather than compliance.“ Hermes EOS Investors CDSB’s'Repor,ng'Framework'in'Prac,ce'
- 7. @CDSBGlobal A'stepping'stone'to'producing'integrated'reports'' CDP'Informa>on' request' CDSB'Guidance'CDSB’s'Repor>ng' Framework' THE'DATA' THE'LENS' THE'HELP'VISIBILITY' Mainstream' Report' CDSB’s'Repor,ng'Framework'in'Prac,ce'
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- 9. CDSB National Grid CorporatePerspective
- 10. National Grid carbonmanagement systems Carbon targets Carbon budgets Carbon data Carbon performance Climate change papers • Reductions on 1990 baseline • 2020: 45% reduction • 2050: 80% reduction • Set annually by business unit • SAP CI • Monthly data submission • GHG Protocol • Verification • Presented to senior management committee and Executive board periodically
- 11. National Grid carbonreporting in Annual Report and Accounts • Context of climate change • Changing energy mix • Energy policy and national targets • Innovation and technology • High level implications for National grid s operations Operating environment
- 12. National Grid carbonreporting in Annual Report and Accounts • Climate Change sub- section • Annual emissions volumes • Progress against targets • Emissions measurement methodology: GHG Protocol • Emissions verification statement • Pursuit of opportunities such as CCS What did we achieve?
- 13. National Grid carbonreporting in Annual Report and Accounts • Regulatory requirements • Contribution to decarbonisation of energy system • Reduction in National Grid emissions • Adaptation to impacts of climate change to ensure reliability of energy system • Risk Factors • Failure to meet carbon targets • Impacts of extreme weather Additional Information
- 14. © 2013 GrantThornton International. All rights reserved© 2013 Grant Thornton International. All rights reserved Practicalities of Carbon Reporting • the reporting process • accounting issues • risk management • stakeholder engagement 8 August 2013
- 15. © 2013 GrantThornton International. All rights reserved Practicalities of Reporting – the process 15 Obligations Investor Needs Executive Overview Business Model review Reporting Period and Boundary Standard and Policies Materiality Timescales link risk and prospects comparability segmented information KPI comparison Review against 1,2 & 3 Internal review External stakeholder review REPORTING PROCESSREVIEW PRESENTATION PREPARATION DETERMINATION
- 16. © 2013 GrantThornton International. All rights reserved CDP Workshop - Key Findings 16 ! Data quality ! Reputational risk ! Verification ! International variation ! Suppliers ! Internal buy-in ! Leadership ! External interest ! Data gathering ! Boundary ! Added value? ! Responsibility Accounting Issues Risk Management Stakeholder Engagement
- 17. © 2013 GrantThornton International. All rights reserved 17 Thank you Mike Reid Associate Director Grant Thornton mike.reid@uk.gt.com
- 18. ©Radley Yeldar Ltd1 Making it relevant Engaging techniques for climate change reporting BenRichards,RadleyYeldar 8August2013 SayhelloviaTwitter @radleyyeldar
- 19. ©Radley Yeldar Ltd2 We help the world’sbravest,brightest and best organisationsto find and tell their story, in one clear voice, by whichever meansworks best. A bit about RY
- 20. ©Radley Yeldar Ltd3 Relevance and relationships BIS’ vision for the future of narrative reporting Value chain Strategy KPIs Risk Performance
- 21. ©Radley Yeldar Ltd4 The value of a clear story Working out your organisation’s story about climate change will help to make you consistent, credible and distinctive
- 22. ©Radley Yeldar Ltd5 The value of a clear story Working out your organisation’s story about climate change will help to make you consistent, credible and distinctive ...in turn making it easier for stakeholders to trust you and to become advocates for your approach
- 23. ©Radley Yeldar Ltd6 The value of a clear story Working out your organisation’s story about climate change will help to make you consistent, credible and distinctive ...in turn making it easier for stakeholders to trust you and to become advocates for your approach ...which helps drive performance
- 24. ©Radley Yeldar Ltd7 Who’s doing a good job? Unilever – joined-up and clear
- 25. ©Radley Yeldar Ltd8 Who’s doing a good job? British Land – clear and user-driven
- 26. ©Radley Yeldar Ltd9 Who’s doing a good job? GSK – transparency across the value chain
- 27. ©Radley Yeldar Ltd10 Who’s doing a good job? Siemens – material, focused, relevant
- 28. ©Radley Yeldar Ltd11 1. Join it up Show how climate change is relevant to your corporate story 2. Collaborate Work with other teams to increase relevance for all stakeholders 3. Prioritise Tell the story throughout – and offer the detail only where relevant Top tips If you only do three things...
- 29. ©Radley Yeldar Ltd12 For more information How does it stack up? Best practice research into UK and European reporting Visit ry.com for publications or event registration.
- 30. ©Radley Yeldar Ltd13 Stay in touch Contactdetails: BenRichards b.richards@ry.com RadleyYeldarLtd 24CharlotteRoad LondonEC2A3PB T02070330700 F02070330800 www.ry.com
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