'We are eroding the very foundations of our economies, livelihoods, food security, health and quality of life worldwide' said IPBES[1] Chair, Sir Robert Watson, the starkest warning so far in the most comprehensive assessment of human behaviour by the UN (May 2019)[2]. The alarming report bringing together comprehensive data and evidence brought into sharp focus the global impact of human behaviour on the world.
Never has the need for a conference on sustainability been so critical, what we do now matters for all our futures and our children's futures. And they are looking to us for action. Greta Thunberg has started a global movement and challenged the grown ups to listen to the scientists and act. Now.
How institutions and companies are acting and reporting on these actions plays an important part to achieve sustainability. That is why we are organising the first ECA Sustainability Reporting Forum to review reporting and how the auditor can support transparency and trust in the information provided.
Eva Lindström will set the scene and draw observations on the new ECA review.
The publication of the audited financial statements remains the main source of assurance on the organisation's long-term sustainability. But, how do organisations demonstrate sustainability reporting in the financial statements? We will look at the current state of sustainability reporting in the private and public sectors respectively and will use the first session to discuss what lessons can be learned.
We will continue with the question: What sustainability information do stakeholders need?
There is growing acceptance that a sustainability risk is a financial risk. Investors and market investors will want to assess their exposure to financial risk. So, what do today's consumers and tomorrow's voters actually want to know from businesses and governments, and how do private and public sector organisations best demonstrate how they are implementing and achieving SDGs and sustainability?
In light of this, we will look to highlight the wider debate as to whether the financial statements provide the information required to make fully informed choices. The case for integrated reporting is increasing.
An essential element to greater transparency is the need to build trust in the information provided and this is where auditors play a pivotal role. The third session will consider what does the auditor need to do to provide assurance?
And finally, what better way to end the day than to look towards the future? The last session of the day will explore the future agenda and what we need to commit to doing and the actions required now.
We hope you will enjoy this highly interactive day where we can shape the future agenda together ensuring audit plays a crucial role, or risk becoming obsolete. This is the start of the programme and we want to build a community, developing and sharing best practice and learning from one another.
We owe it to our future generations.
Live stream: https://app.clevercast.com/webcast/w-xgQyng/
[1] Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)
[2]https://www.un.org/sustainabledevelopment/blog/2019/05/nature-decline-unprecedented-report/