Last month, the Code for Responsible Investing in South Africa (CRISA) Committee released a draft revised Code, open for public comment until 31 January 2021.The PRI is preparing a response and we encourage signatories to respond also – feedback…
The FRC has published a discussion paper proposing a radical shift in the way corporations approach reporting. The shift would see 3 reports tailored to different stakeholder needs, with materiality to differ based on the objectives of the specific report, and the importance of non-financial info elevated to the same level as financial info.
The new proposed structure would see the onus shift much more onto corporates as they would have to decide for themselves what is material, who their key stakeholders are, and what their obligations are in respect of the public interest. The FRC held a webinar last week and suggested that the necessary legislation to bring these proposals to life would likely take about 10 years to materialise. With the Chancellor's recent announcement about TCFD-aligned disclosures rolling out across the economy by 2025, it's likely that many firms would be captured by both TCFD and this FRC proposal.