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Guide: Enhancing Greenhouse Gas (GHG) Reporting
- 15 June 2023
- Accounting
- South African Accounting Academy
The first part of the guidance, 8 Steps to Enhance GHG Reporting: A Roadmap for Accounting and Finance Professionals provides finance and accounting professionals with a roadmap to engage with others across their business to prepare for GHG emissions reporting requirements aligned to financial reporting processes.
The second, GHG Reporting Building Blocks for Accountants, equips accountants with the technical guidance necessary to collect and enhance the quality of data related to all scopes of GHG emissions at individual entity and group levels.
This guidance was developed in in partnership with Accounting for Sustainability (A4S), Global Accounting Alliance (GAA), and World Business Council for Sustainable Development (WBCSD).
Click here to download the 1st 2 parts of the guidance:
- https://ifacweb.blob.core.windows.net/publicfiles/2023-05/8-Steps-Enhance-GHG-Reporting_1.pdf
- https://ifacweb.blob.core.windows.net/publicfiles/2023-05/GHG-Reporting-Building-Blocks-Accountants.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Many professional accountants and finance professionals are relatively new to greenhouse gas (GHG) accounting and reporting. However, with disclosure of GHG emissions forming part of mainstream annual and financial reporting, their role is critical in driving effective and efficient solutions to generate decision useful GHG emissions information.
- Adherence to the requirements of the Sustainability standards and regulatory mandates will necessitate reporting on material GHG emissions at the same time as, and for some or part of, the annual or financial report.
- The International Sustainability Standards Board (ISSB) General Sustainability-related Disclosures (S1) and Climate-related Disclosures (S2) which adopt The Financial Stability Board’s Task Force on Climate-related Financial Disclosures recommendations. ISSB standards will be effective for annual reporting periods beginning 1 January 2024.
Relevance to Your clients:
- Adherence to the requirements of the Sustainability standards and regulatory mandates will necessitate reporting on material GHG emissions at the same time as, and for some or part of, the annual or financial report.
- This guidance will be of use to your client’s accounting and finance professionals.
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