Reporting Intelligence – April 2025
Our Reporting Intelligence pages are a treasure trove of insightful reads, we’ve done the hard work, so you can stay informed without the hassle.
This month’s reporting intelligence section explores the latest insights filtered from CDP, EFRAG, SBTi, the FRC and the European Parliament.
Streamlining sustainability: CDP and EFRAG align for easier reporting
CDP and EFRAG have created a tool that connects CDP disclosures with the EU’s ESRS E1 climate standard. The goal is to make it easier for companies to report under both systems. By bringing these frameworks together, businesses can use the data they already have for both CDP and CSRD requirements. This partnership helps companies to be more transparent and efficient, allowing them to concentrate on taking action for sustainability instead of getting bogged down in complicated reporting. The tool focuses on important areas like emissions and transition plans, making it easier for companies to comply in the future.
Read more here
SBTi releases initial draft of updated Corporate Net Zero Standard
The Science Based Targets initiative (SBTi) has released a draft of its updated Corporate Net Zero Standard to improve how companies track their carbon reduction efforts. Key updates include clearer guidelines for setting Scope 2 emissions targets and a requirement for larger companies to set Scope 3 emissions goals. There’s a greater focus on monitoring progress and options for temporary carbon removal targets. Importantly, the standard does not permit offsetting emissions through carbon credits. It also offers a consistent way to evaluate progress toward targets and a process for companies to renew their commitments.
Access the draft here
FRC publishes 3-year strategy
The FRC has announced its Strategy for 2025-28 and its Business Plan for 2025-26. The body is set to update its powers and collaborate with the government to improve regulatory accountability. Feedback from stakeholders has been positive about the FRC’s new direction and engagement efforts.
Key initiatives include changing how the FRC inspects audit firms and helping smaller firms through the “Scalebox” initiative. This will focus on the audit services available for small and medium-sized businesses. The strategy also highlights the need for boards to take charge of their governance in line with the recently updated Corporate Governance Code.
Download the FRC 3-year Strategy 2025-28 here
EU Omnibus update: the European Parliament votes in favour of a ‘stop-the-clock’ directive
The European Parliament has voted in favour of a ‘Stop-the-clock’ directive, delaying reporting timelines for both the CSRD and the CSDDD. This grants a two-year extension for large companies scheduled to meet CSRD requirements in the 2025 financial year. Additionally, the CSDDD transposition deadline shifts from July 2027 to July 2028.
This parliamentary vote represents a key milestone but not final adoption. Final approval requires agreement on the complete legal text. Once formally adopted, Member States will have until the end of 2025 to integrate these provisions into their national legislation.
Other Omnibus amendments remain under consideration, with the reporting postponement prioritised to allow more time for developing additional modifications.
Read more here
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