Comparison of global climate and nature disclosures
The global frameworks and standards for climate and nature disclosure vary in scope and their approach to materiality. Whilst climate-related issues are fairly consistent among standards, nature-related issues take different forms and names. The table below summarises important features of each framework and standard.
Organisation / Author | Standard / Framework | Scope | Target audience* | Materiality approach |
GRI | GRI Standards | Environment (including climate and biodiversity), social capital, human capital and economic performance | Multiple stakeholders | Impact materiality |
IFRS Foundation | ISSB Standards | Sustainability and climate; | Investors | Single materiality - financial materiality (risks and opportunities for the business; including value creation through IR) |
SASB Standards | Environment (including climate), social capital, human capital, business model and innovation, governance | |||
TCFD Recommendations | Climate | |||
Integrated Reporting (IR) | Capital: financial, manufactured, intellectual, human, social, and natural | |||
TNFD | TNFD Recommendations | Nature (including land, freshwater and ocean-use change; pollution; resource use; invasive species; state of nature) | Multiple stakeholders | Double materiality - impact and financial materiality |
TPT | TPT Framework | Climate (transition to net zero) | Multiple stakeholders | Single materiality - financial materiality |
CDP | CDP Questionnaire and Guidance | Climate, water, forests, plastics | Multiple stakeholders | Double materiality - impact and financial materiality |
Adams, CA, Druckman , PB, and Picot, RC | SDGD Recommendations | 17 UN’s Sustainable Development Goals | Multiple stakeholders | Double materiality - impact and financial materiality |
*Stakeholders may include: investors, lenders, assurance providers, supervisors or regulators from financial institutions, policymakers and regulatory authorities, employees, customers, local communities and indigenous communities.