by Barbara Zäch, Co-CEO, Center for Corporate Reporting (CCR)
Around 30 participants joined this in-person Roundtable to listen to the presentations by important standard and framework setters and interact directly with them. To set the scene, EY started off with an overview of the current developments in the field of standardization and their impact on Swiss companies specifically, followed by updates of representatives from the Capitals Coalition, Value Reporting Foundation (Merger SASB/IIRC), EFRAG and GRI.
It was generally agreed that non-financials need to be on the board agenda and that companies need to assess exposure to and implications of regulatory requirements. Another focus topic was the notion of value in more general sense (not just financial value). Businesses need to get up to speed with reporting on the value created, preserved, or destroyed by companies since value accounting is expected to become mandatory. Good practice examples for business model reporting as well as how to link sustainability matters to the business model and strategy and to report on sustainability risks and opportunities were well taken as a hands-on guide and inspiration for future reporting.
All speakers and participants agreed there is a need to reduce complexity. Important subject matter areas of the discussions were the importance of multistakeholder processes and the concept of double materiality.
The networking part culminated in a lunch above the rooftops of Zurich with a spectacular view on Zurich, its lake and surroundings.
CCR members can access all replays and key take-aways in the member section. An individual support in the process of dealing with ESG and other matters around reporting be it as sparring partner for a second opinion or for an in-depth analysis of a related project is also part of CCR’s offering for its community.
