Q4 2024 Sustainability Reporting Jurisdictional Update
BDO International Limited
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Abstract: The International Sustainability Standards Board (ISSB) and other standard setters and regulators in major jurisdictions have been very active during 2023 and in 2024 by beginning to bring sustainability reporting frameworks into laws and regulations and by planning to and publishing consultations on proposed requirements and/or a proposed roadmap. In the United States (US), the California final amendments to SB 253 and SB 261 signed into law in September 2024 allow consolidated climate reporting at the parent company level, modify the Scope 3 emissions reporting requirement to begin in 2027, and maintain the 2026 reporting start date, with California Air Resources Board (CARB) regulations now due by July 2025. In addition, the European Commission (EC) released FAQs to clarify various aspects of the Corporate Sustainability Reporting Directive (CSRD), covering sustainability information, assurance, intangible resources, third-country undertakings, and SFDR. This publication provides a ‘snapshot’ of sustainability reporting developments for selected jurisdictions, including those being developed for use by entities in the European Union (EU) and the US. BDO also issues quarterly ISR Bulletin sustainability reporting updates as sustainability standards are evolving quickly. Although it is comprehensive, this summary is not exhaustive and does not include all standard setting activities of the ISSB and other organisations.