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Carbon Disclosure Standards Board

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Overview

As it is to be used for the disclosure of information in mainstream reports, the CDSB framework aims as far as possible to adopt and reflect principles established for financial reporting. CDSB endorses and shares the International Accounting Standard Board’s (IASB) aim of establishing, advancing, maintaining and improving standards of financial and related reporting in the public interest.

The IASB Framework for the Preparation and Presentation of Financial Statements acknowledges that financial statements are not, of themselves, sufficient to meet the objectives of financial reporting and that “other financial reporting” may be necessary to “assist in the interpretation of a complete set of accounts or [to] improve users’ ability to make efficient economic decisions”. The CDSB framework is designed to elicit information that will supplement and complement details provided in audited financial statements by promoting consistency of disclosure about climate change.

As well as drawing on principles from financial reporting, the CDSB framework is influenced by the work of CDSB Board Members and standard setters.

CDSB’s framework:

  • States that preparation of greenhouse gas emissions disclosures should be based on the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition) developed by WBCSD and WRI and/or any Regional or National Program Protocol based on the Greenhouse Gas Protocol and/or the International Organisation for Standardisation’s ISO 14064-1 “Specification with guidance at the organisational level for quantification and reporting of greenhouse gas emissions and removals”.
  • Aligns as far as possible with relevant aspects of International Financial Reporting Standards.
  • Is being developed with organisations leading work in mainstream reporting and climate change-related disclosure.

As part of its ongoing work, CDSB tracks international regulatory and other developments in climate change-related reporting so as to incorporate and reflect those in the CDSB framework where appropriate.