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<p><a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a></p><div type="image" title="A hedge maze within a city center" height="4000" width="5333" msid="93035079" hostid="261"></div><ul class="summary-list"><li>Navigating numerous organizations and frameworks related to sustainable reporting can be confusing.</li><li>It's most important to focus on what's critical for your company's stakeholders, then connect with the right resources to help.</li></ul><p>When it comes to <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> disclosure, organizations, and metrics, there are a lot of acronyms — from <keyword id="14519825" type="UNKNOWN" weightage="60" keywordseo="sasb" source="Orion">SASB</keyword> to <keyword id="14519826" type="UNKNOWN" weightage="60" keywordseo="gri" source="Orion">GRI</keyword> to <keyword id="14519824" type="UNKNOWN" weightage="60" keywordseo="tfcd" source="Orion">TFCD</keyword>. Between them, they may provide frameworks and guidelines, help set goals, and assess how businesses may be affected by things like climate change. </p><p>For companies getting started down their own path towards sustainable accountability, it can be daunting. And now that the <keyword id="11898795" type="UNKNOWN" weightage="60" keywordseo="sec" source="Orion">SEC</keyword> has proposed a rule change that requires companies to disclose climate-related risks to their business, it's imperative that leaders learn to navigate the universe of tools out there — especially because they are likely based on structures already being used by companies. </p><p>"The proposed disclosures are similar to those that many companies already provide based on broadly accepted disclosure frameworks," according to the <a href="https://www.sec.gov/news/press-release/2022-46" target="_blank" rel="noopener nofollow sponsored">SEC statement announcing the proposed rules</a>. "Such as the Task Force on Climate-Related Financial Disclosures [TFCD] and the Greenhouse Gas Protocol [GHG]."</p><p>The anticipation of new rules is motivating corporate leaders. "Today, we're on the precipice of regulated ESG in the US, and the EU is moving forward on ramping up its ESG disclosure regulations," said Christine Robinson, a partner in sustainability and ESG services at <keyword id="11939352" type="UNKNOWN" weightage="60" keywordseo="deloitte" source="Orion">Deloitte</keyword>. "There is a sense of urgency to understand the acronyms, how they fit together, and what [they] mean in the context of what could be regulated disclosures."</p><p>While numerous organizations exist, it's possible to narrow down the important ones by focusing on the stakeholders that are most critical to the company. </p><h2>First, figure out what's important</h2><p>Robinson says that before diving into frameworks and guidelines, companies should focus on a materiality assessment that will inform what's necessary to track and report. Therefore, what frameworks and organizations support your needs. </p><p>"In the context of ESG, that's an assessment of peer and industry benchmarking ... what are the topics the industry is focusing on," she said. For example, companies within the healthcare vertical may have different priorities than companies in retail or real estate sectors. Figuring out what sustainability issues a company's competitor is reporting is a solid way to narrow focus. </p><p>A materiality assessment also looks at what stakeholders are most critical, whether it's investors, employees, customers, or NGOs. "Engaging with them in a way you can understand the topics they are expecting to hear from you about," Robinson said. "Marry that with what is happening inside the business and with what leadership is seeing and hearing every day."</p><p>The point is, take the time to figure out what's important to the business and to the people who matter most. "It helps a company think through their priority stakeholders and what their expectations are," Robinson said. "That's going to be a key driver of the standards that are accepted for use in disclosure."</p><p>And that information will help direct the company to the most important framework or organization.</p><h2>The rapidly changing nature of global organizations </h2><p>When speaking to sustainability experts, SASB is an acronym that frequently comes up. It stands for <a href="https://www.sasb.org/about/" target="_blank" rel="noopener nofollow sponsored">Sustainability Accounting Standards Board</a> (SASB) and is "geared to the investor community," Robinson said. "They are grounded in the SEC definition of what is material for a reasonable investor."</p><p>The board produces the SASB Standards, a set of global guidelines to share with investors the environmental, social, and governance (ESG) issues that impact companies' financial performance. SASB standards are directed toward investors. They are available for 77 different industries, as the issues that impact financial performance often differ depending on the industry.</p><p>But the world of disclosure organizations has been dynamic over the past year. In fact, as of June 2021, SASB had merged with the International Integrated Reporting Council (IIRC) to form the <a href="https://www.valuereportingfoundation.org/" target="_blank" rel="noopener nofollow sponsored">Value Reporting Foundation</a>. And that, in turn, merged into the <a href="https://www.ifrs.org/groups/international-sustainability-standards-board/" target="_blank" rel="noopener nofollow sponsored">International Sustainability Standards Board.</a></p><p>"This is all happening very quickly," Robinson said. "What the ISSB is doing is trying to deliver a comprehensive baseline of global sustainability standards, specifically for investors and capital market participants about a company's ESG risks, performance, and opportunities." </p><h2>The right framework for the right stakeholders </h2><p>As those global standards move more companies towards things like integrated ESG and financial reporting, organizations that are just getting started will benefit most by zeroing in on the most important audiences for their information.</p><p>If employees or customers are the key stakeholders, companies will look to GRI standards. "Employee sentiment may bring up ideals like purpose, and tying the work you do to your own values, that's the sentiment employees bring," Robinson said. "That's not in the SASB standards. That's a place where I would advise companies to look at GRI." </p><p>The <a href="https://www.globalreporting.org/about-gri/#:~:text=GRI%20(Global%20Reporting%20Initiative)%20is,language%20to%20communicate%20those%20impacts." target="_blank" rel="noopener nofollow sponsored">Global Reporting Initiative</a> (GRI) is an international organization that helps companies worldwide hold themselves accountable for sustainability practices beyond just climate. The <a href="https://www.globalreporting.org/standards/" target="_blank" rel="noopener nofollow sponsored">GRI Standards</a> allow organizations to better understand and report credibly on their impacts on the environment, economy, and people. The standards are designed to encompass a wide variety of stakeholders, including investors, employees, and more. </p><p>If the key stakeholders are the investment or financial community, TFCD is the acronym of choice. The <a href="https://www.fsb-tcfd.org/about/" target="_blank" rel="noopener nofollow sponsored">Task Force on Climate-Related Financial Disclosures</a> (TCFD) was spearheaded by the Financial Stability Board Chairman Mark Carney and chaired by Mike Bloomberg, the former mayor of New York City and media entrepreneur.</p><p>It gives companies a framework on what they to disclose to investors and other financial stakeholders to accurately assess climate change-related risks and opportunities. The goal is to drive capital towards more sustainable investments. </p><p>"You go through the TFCD framework and do things like establish governance at the board and management level, identify risks and opportunities, run through risk mitigation plans and decarbonization strategy, and report metrics," Robinson said. "To help you measure your performance on climate and how you, as a company, are tracking against and anticipating a transition to a low-carbon economy."</p><p>"It really does all go back to the stakeholder," Robinson said. She said that while the SEC might require investor-facing reports, that doesn't mean companies should stop doing voluntary disclosures on other topics around sustainability that are not financially material. "Companies have to learn how to operate in a world of regulated ESG disclosure. But that doesn't negate or do away with voluntary disclosure to all others but investors." </p>

Acronyms and jargon make sustainability reporting confusing. Focusing on the important stakeholders within your business can clear up the process.

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>EllenMcCourt</span></p><p class="caption">Dr. Ellen McCourt is active on the picket line where junior doctors are striking  over a dispute with the government over the new contract they have been offered.</p></div><p></p></div></div>Junior doctors across Britain have <a href="http://www.bbc.co.uk/news/health-35286343">walked out of work for 24 hours</a> over a dispute with the government over the new contract they have been offered.</p><p>Junior doctors in England account for a third of the medical workforce. There are 55,000 and 37,000 are British Medical Association (BMA) members - which is the body that called the strike.</p><p>The majority of the public seem to support them, <a href="http://uk.businessinsider.com/junior-doctors-strike-polls-show-public-back-industrial-action-2016-1">according to new a</a><span><a href="http://uk.businessinsider.com/junior-doctors-strike-polls-show-public-back-industrial-action-2016-1"> Newsnight/Ipsos MORI</a>, which showed 66% of the public support the strike as long as emergency care is still provided.</span></p><p><span>Meanwhile, <span>Health Secretary Jeremy Hunt described the junior doctors' strike as "completely unnecessary" and said </span></span>"we have some disagreements with the <span>British Medical Association </span>over pay. But we all want to promise every patient who uses the NHS the promise of the same high-quality care every day of the week."</p><p>"And at the moment we have an NHS where if you have a stroke at the weekends, you're 20% more likely to die. That can't be acceptable," <a href="http://www.bbc.co.uk/news/health-35294637">he told the BBC.</a></p><p>So, Business Insider spoke to a junior doctor from Hull who is active on the picket line to get to the bottom of what is happening on the front line and what were the exact reasons for her and her colleagues taking strike action.</p><p><strong>Business Insider: Tell us in a nutshell why you and the rest of the junior doctors are striking.</strong></p><p><strong>Ellen McCourt:</strong> Junior doctors are striking for two main reasons. Firstly the government is removing safeguards that would risk patients safety in our contracts - <span>safe working hours and conditions for junior doctors.</span></p><p>The second is changing the way we are paid. Previously we'd be paid extra for antisocial hours, such as evenings and weekends, but the government does not want to deem them as antisocial any more. They are considered normal working times. Considering emergency medicine primarily deals in antisocial hours, this means emergency healthcare workers will ultimately get a pay cut.</p><p><span>[The government says a night shift is any shift which includes three hours between 11pm and 6am while the BMA says it's any shift that includes hours after 10pm. There are also various disagreements over issues such as rest periods and shift patterns.]</span></p><div>These are the two main reasons - it's not safe, not fair, and not sustainble. </div><p><strong><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Reuters</span></p><p class="caption">Doctors hold placards during a strike outside St Thomas' hospital in central London, Britain January 12, 2016.</p></div><p></p></div></div>BI: What are the biggest misconceptions over why you are all striking?</strong></p><p><strong>EM:</strong> The biggest misconception is that we all just want a pay rise. We have never said that we are looking for or wanting a payrise. We need assurances from the government that it will negotiate on the concerns we have over our contracts (patients and doctors' safety). </p><p>The government wants to change working hours that are just completely inappropriate for junior doctors. They want a seven-day NHS but we are already operating a seven-day NHS. As a trainee, I work one in two weekends - I don't know how many more I can work. </p><p>We already have problems recruiting and retaining doctors in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>, so the issue is two fold - safety assurances and not implementing pay cuts. </p><p><strong>BI: Junior doctors earn around £22,636, <a href="https://www.healthcareers.nhs.uk/about/careers-medicine/pay-doctors">according to the NHS website</a>, but how many hours do you and other junior doctors work and what is the change over your contracts?</strong></p><p><strong>EM:</strong> We legally can work 91-hour weeks, which average out to around 48-hour weeks over six months. The government isn't contractualising more hours for us but they are not giving us assurances about safeguards around working long and antisocial hours. </p><p>They are removing <span>the current financial penalty scheme which will disincentivise NHS Trusts from making us work unsafe hours. [Currently, hospitals are monitored and fined is doctors regularly work longer hours than legally allowed. The government wants to scrap this].</span></p><p>We see that [the scrapping of the financial penalties] as a disincentive as it won't stop people from breaking the rules if there is nothing to penalise them for.</p><p><strong><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Ellen McCourt</span></p><p class="caption">Dr. Ellen McCourt working on New Year's Day in A&amp;E.</p></div><p></p></div></div>BI: What is your response to those who are unsupportive of industrial action and that you are all being seen to be jeopardising patients' safety with strikes?</strong></p><p><strong>EM:</strong> Any patient looking for emergency care will receive the exact same level of care as they would on Christmas Day and New Year's Eve.</p><p>Accident and Emergency is fully staffed so any sick adult or child would still be seen by emergency staff. (<a href="https://twitter.com/TheBMA/status/686901599579561984?ref_src=twsrc%5Etfw">The BMA actually asked doctors working in A&amp;E to go to work, meaning around 38% of junior doctors broke the picket line</a>). </p><p>While we regret to put some patients on hold for difficult procedures, like hip operations, we have to look at the bigger picture and the sustainability of our contracts within the NHS. </p><p><strong>BI: The government, namely Jeremy Hunt, seems pretty immovable on contract negotiations. What are the time frames for further strike action if a deal can't be made?</strong></p><p><strong>EM: </strong>In the short term, we have left a two-week window for the government to take time to consider and respond to our concerns.</p><p>However, we are in for the long haul. We will continue to take industrial action as the concerns over patient safety doesn't change and we will not be swayed on that.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/obama-has-best-trump-insults-2015-12">Obama has been getting the best of Trump for years</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="F5dXY4dzpedDTqGtZWvjQdvLnFUPnk3E" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "sustainbility" and got 2 results

Acronyms and jargon make sustainability reporting confusing. Focusing on the important stakeholders within your business can clear up the process.

Julia Hood,Elisa Xu

A junior doctor told us what the biggest misconception is about the strikes

Lianna Brinded

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