The Latest Developments in Non-Financial Reporting: Sustainability Reporting

Internationally, the demand for sustainability reporting and reporting on long-term value creation is increasing. Stakeholders – consumers, employees and investors are demanding value creation performance accountability from the entities that they purchase from, work for, and invest in. Increasingly, the focus is moving towards holistic, long-term value creation. 


  • Larissa Clark, Partner IFRS Services, EY South Africa


  • Leo van der Tas, Global IFRS Leader
  • James Luke, Africa IFRS Leader, EY South Africa
  • Joanne Henstock, Executive Director Financial Accounting Advisory Services, EY South Africa


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Sustainability reporting encompasses reporting on an entity’s strategic ESG objectives, risks and opportunities and performance against the entity’s key ESG performance targets. It is broader than climate change reporting, and also encompasses reporting on performance and value creation in the natural, social and human capital spheres. Investor concerns about the lack of comparable and consistent reporting on ESG matters has driven intensified calls to converge the various international sustainability reporting standards.

We have the pleasure of inviting you to our upcoming Financial Reporting Update. We will be hosting a virtual panel discussion dealing with recent developments in sustainability reporting and reporting on long-term value creation, largely in relation to the outreach activity of the IFRS Foundation. These activities include proposals to establish a Sustainability Standards Board. This session is highly recommended for all stakeholders due to the increasing pace of these developments and the expected impact of the proposals.

The session covered the following aspects:

  • What are the proposals to establish a new Sustainability Standards Board (SSB) and the current status?
  • What type of information is being targeted?
  • How do the proposals relate to the other sustainability reporting initiatives, such as integrated reporting, GRI (Global Reporting Initiative) and the TCFD (Task force in Climate-related Financial Disclosures)?
  •  What user perspectives are relevant for this type of reporting (capital markets or multi-stakeholder approach)?
  • What is meant by “dynamic materiality” and how does it impact on reporting considerations?
  • What are the current proposals on assurance reporting on sustainability information?