Sustainability reporting and disclosures services for financial services

A huge number of sustainability reporting and disclosure requirements are required to assess climate and sustainability risks and opportunities. It’s a complex world to navigate, and EY professionals can help firms understand what is required of them, and how to develop, implement and embed their sustainability reporting and disclosures.

Related topics Banking and capital markets Wealth and asset management Insurance Sustainability COP

Climate related reporting and disclosures for financial services

Watch as our leaders discuss the myriad of reporting and disclosure requirements, and the challenges financial services institutions are facing.

What EY can do for you

Sustainability guidelines, frameworks and standards are attracting increased attention, thanks to a growing focus, in particular from investors and regulators. Financial services organizations are now expected to be transparent and accountable in their sustainability reporting to illustrate their actions toward building a sustainable economy.

Alongside these enhanced disclosures, there is a need for an effective control environment. This will need to be broadened out to foster credibility, accuracy and authenticity in your sustainability ambition, strategy and public disclosures.

EY teams work with financial services firms at varying stages of their sustainability journey to develop their understanding of sustainability reporting requirements, including:

  • Corporate Sustainability Reporting Directive (CSRD)
  • International Sustainability Standards Board (ISSB)
  • Taskforce on Climate-related Financial Disclosures (TCFD)
  • Global Reporting Initiative (GRI)
  • European Sustainability Reporting Standards (ESRS)
  • EU Sustainable Finance Disclosure Regulation (SFDR)
  • UK Transition Plan Taskforce (TPT)
  • US Securities and Exchange Commission (SEC)

Teams work alongside financial services institutions to; determine which performance indicators and metrics are needed to report, explore the data that is required for reporting, and then identify what is missing and what action is needed to fill the gaps.

To facilitate this complex task, EY teams have invested in a sophisticated gap analysis tool that can map data needs across key reporting frameworks such as CSRD, ISSB, TCFD and GRI, providing a full analysis and implementation plan to facilitate financial services institutions’ reporting requirements.

Key areas of support

  • Sustainability reporting implementation

    Our multidisciplinary team of people with a strong understanding of sustainability reporting in financial services supports and helps EY clients in the implementation of sustainability reporting offerings that are both agile and scalable, recognizing that the landscape is constantly evolving. EY teams can support the process of sustainability reporting, including impact reporting, end-to-end production and advice, annual reports and materiality assessments.

  • Greenhouse gas emissions and other metric accounting

    EY carbon accounting professionals aid in the technical interpretation of greenhouse gas accounting standards, including the Greenhouse Gas Protocol and the Partnership for Carbon Accounting Financials (PCAF). With the growing emphasis on regulatory frameworks such as TCFD, GRI and CSRD, there are increasing requirements for companies to accurately disclose their direct and indirect emissions. EY teams can support financial services organizations in the calculation of scope 1, 2 and 3 emissions by inputting experienced carbon accounting treatment and data analysis.

  • Finance transformation and controls

    We leverage in-depth knowledge of the design of rigorous controls for sustainability reporting and disclosures, providing support in the review, design and implementation of end-to-end sustainability control and reporting frameworks. The development of a robust governance framework and a scalable process is crucial to embedding sustainability reporting across your financial services business and embedding it into BAU.

  • Assurance services

    We perform Limited Assurance, Reasonable Assurance and Agreed Upon Procedure services on sustainability reporting and disclosures. We use a tailored Sustainability Assurance Methodology (EY SAM) which targets our testing on aspects of sustainability reporting and disclosures that matter most, so that the approach is focused and efficient. EY SAM is aligned with the International Standard on Assurance Engagements (ISAE) 3000 and is tailored to Sustainable Finance, supporting the ability to provide financial services companies and their stakeholders with transparency, trust and confidence in sustainability reporting and disclosures.

What you can do today to make a difference for tomorrow

Explore how EY teams can help you drive value, impact change, and advance sustainability.

 

Contact our leaders now.

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