Date posted: 31/10/2019 2 min read

Submission on Consultation Paper Recommendations for SDG Disclosures

Accountants play a vital role in contributing towards the achievement of the SDGs

Carol Adams (Durham University Business School and Swinburne Business School), Paul Druckman (Chair of the World Benchmarking Alliance) and Russell Picot (Chair of the Trustee Board of HSBC Bank (UK’s pension scheme) authored the Recommendations for SDG Disclosures consultation paper.

The consultation document sets out a proposed Framework for recommended Sustainable Development Goal (SDG) Disclosures. The proposed Framework can be aligned with the TCFD’s Climate related Financial Disclosures, targets and indicators proposed by the GRI and the UN Global Compact and the GRI Global Sustainability Standard’s (GSSB) Standards. They are also compatible with the International <IR> Framework. 

Together with ACCA and ICAS, CA ANZ published the consultation document on behalf of the authors. The document was circulated in Australia, New Zealand and internationally. The feedback received ranged from Government departments to SDG report preparers in business and the feedback has been positive. 

CA ANZ also prepared a written submission with highlighted points such as: 

  • We support the development of and convergence towards relevant, reliable, consistent and comparable narrative information and metrics on which assurance conclusions can be expressed
  • Some of the selected disclosure Principles are quite complex. We encourage the authors to focus on the most relevant principles and also suggest that a degree of flexibility is embedded into the recommended disclosures to focus on the needs of the stakeholder
  • It is vital that SDG Disclosures are complementary to other reporting frameworks already being used by entities while also allowing for flexibility to respond to the changing business environment.

We lodged our submission on 31 October 2019.