PwC UK Head of Audit, Hemione Hudson, reacts to launch of the International Sustainability Standards Board:
“The launch today of the International Sustainability Standards Board is an important step towards achieving a global common approach to ESG related disclosure standards. Harnessing the power of the financial markets to play a leading role in the transition to a net zero economy will require a dramatic improvement in the quality and comparability of companies' emissions data. Reporting standards are a critical component to achieving this and we look forward to supporting the board in it’s important work. Problems range from an overreliance on models and assumptions, to poor quality emissions data along companies’ supply chains. As PwC highlights in a new report this week, failure to improve climate reporting will erode public trust in business and global confidence in the world’s effort to halve emissions by 2030.”
New report from PwC UK highlighting how the data underpinning corporate climate reporting has fundamental flaws.
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