Raison Recap – June 3rd 2024

Happyย Monday โ€“ hereโ€™s a quick compilation of notable news and headlines from the past week in case you missed it.

โ“ Last week was a busy one for EFRAG, who released ๐š ๐œ๐จ๐ฆ๐ฉ๐ข๐ฅ๐š๐ญ๐ข๐จ๐ง ๐จ๐Ÿ 68 new ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ฌย in response to questions received from January and May on the Q&A Platform. A few notable clarifications were added in the May version, including what to do when ESRS metrics pertain to the undertakingโ€™s own operations but the material IRO actually pertains to the value chain, how much to disclose on thresholds, how to structure the sustainability statement, the difference between substances of concern vs. very high concern and much more. Access the Q&A here: https://lnkd.in/d7kiuVRz

๐Ÿ‘€ Also just in: ๐“๐ก๐ž ๐Ÿ๐ข๐ง๐š๐ฅ ๐ข๐ฆ๐ฉ๐ฅ๐ž๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐ ๐ฎ๐ข๐๐š๐ง๐œ๐ž ๐๐จ๐œ๐ฎ๐ฆ๐ž๐ง๐ญ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐„๐…๐‘๐€๐†ย on Materiality Assessment, Value Chain and the long-awaited List of Datapoints are here. Among other things, the updated materiality guidance includes revised guidance and examples on how to think about ๐ ๐ซ๐จ๐ฌ๐ฌ ๐ฏ๐ฌ. ๐ง๐ž๐ญ ๐ข๐ฆ๐ฉ๐š๐œ๐ญ๐ฌ, which has been a consistent area of concern in the stakeholder consultations as well as EFRAGโ€™s Q&As. A quick count of the data points suggests that there has been a bit of reshuffling, at least in terms of number of potential disclosures (we count 1,126 data points in the May 2024 version vs. 1,202 in the January 2024 version). Here is a link to the documents: https://lnkd.in/e5dS2mVX

๐Ÿค Finally, an interesting update from Bloomberg this week, especially in the wake of the growing push from regulators for (more) non-financial disclosures. Having scrutinised the transcripts of the financial presentations by the 100 biggest European and American traded companies during the latest results season, Bloomberg ๐Ÿ๐ข๐ง๐๐ฌ ๐š ๐ฌ๐ก๐š๐ซ๐ฉ ๐๐ซ๐จ๐ฉ ๐ข๐ง ๐ซ๐ž๐Ÿ๐ž๐ซ๐ž๐ง๐œ๐ž๐ฌ ๐ญ๐จ ๐ž๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐ž๐ง๐ญ๐š๐ฅ, ๐ฌ๐จ๐œ๐ข๐š๐ฅ ๐š๐ง๐ ๐ ๐จ๐ฏ๐ž๐ซ๐ง๐š๐ง๐œ๐ž ๐ข๐ฌ๐ฌ๐ฎ๐ž๐ฌ. As an example, Bloomberg states that climate change and related terms generated 269 mentions in the US so far this quarter โ€” more than 60% fewer than a year earlier, while for European companies, climate change was mentioned 671 times, around a tenth less than a year ago.ย A sign of hashtag
green hushing says some – or maybe just a much needed reckoning (less talk, more action). Link here: https://lnkd.in/e5dS2mVX

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