Transferable instruments, representing an emission reduction or removal of one tonne of CO2 or Co2 equivalent.

CFA Institute is a global association of investment professionals providing finance education

Committee of European Auditing Oversight Bodies

The CEAOB provides a framework for co-operation between national audit oversight bodies at EU level and contributes to the effective and consistent application of EU audit legislation.

Corporate Sustainability Due Diligence Directive

Directive (EU) 2024/1760 on corporate sustainability due diligence which aims to foster sustainable and responsible corporate behaviour throughout global value chains.

The Corporate Sustainability Reporting Directive, Directive 2022/2464, which amends the NFRD, as regards corporate sustainability reporting. The CSRD must be applied for financial years starting on or after 1 January 2024.

NFRD

Non-Financial Reporting Directive

Directive 2014/95 on disclosure of non-financial and diversity information by certain large undertakings and groups.

European Union (Corporate Sustainability Reporting) Regulations 2024

SI No 336/2024 give effect to the CSRD in Ireland

European Sustainability Reporting Standards (ESRS)

Commission Delegated Regulation (EU) 2023/2772 sets out the first set of ESRS under the CSRD.

A Q&A is provided by the European Commission to assist implementation.

EFRAG issues implementation guidance and maintains the ESRS QA Platform

ESMA Guidelines on Enforcement of Sustainability Information apply to competent authorities undertaking supervision of sustainability information under the Transparency Directive.

CEAOB issued guidelines on limited assurance on sustainability reporting to fill the gap until there are assurance standards adopted at EU level.

The CBD is the international legal instrument for “the conservation of biological diversity, the sustainable use of its components and the fair and equitable sharing of the benefits arising out of the utilization of genetic resources”. The CBD is governed by the COP.

The Kunming-Montreal Global Biodiversity Framework (GBF) was adopted during COP 15. The Framework supports the achievement of UN SDGs and outlines measures and supportive indicators to develop a sustainable relationship with nature.

The IFC published a Biodiversity Finance Reference Guide to help channel private finance to address the drivers of biodiversity loss. It sets out how investment activities can be considered to qualify as biodiversity finance and includes an indicative list of investments, activities and project components. Originally published in 2022, it was updated in May 2023 following publication of the GBF.

Supervisory expectations of regulated firms regarding climate and other ESG issues Central Bank of Ireland letter of 3 November 2021

Compliance Carbon Markets also known as Emissions Trading Systems (ETS)

IOSCO issued this final report in July 2023 setting out a series of recommendations to promote integrity and orderly functioning of primary and secondary CCM markets. IOSCO identifies these under two broad categories of compliance carbon markets – “cap and trade” and “baseline and credit system”. The report also includes a useful set of definitions on carbon market related terms including carbon credits.

The potential negative impacts of climate change on an organisation, including physical risks (e.g. event driven risks such as extreme weather events and longer term shifts in precipitation and temperature) and transition risk. 

• Physical Risks: Physical risks are either acute (event driven) or chronic (longer term shifts in climate patterns.)

• Transition Risks: The risks inherent in changing strategy, policy or investments in the move to reducing reliance on carbon and a less polluting, greener economy. The TCFD set out that transition risks may include policy, legal, technology, market and reputational risks.

COP stands for 'Conference of the Parties.'

An international climate summit initiated by the United Nations and bringing together the signatories to the UN Framework Convention on Climate Change. The most recent is COP 27 in Sharm El Sheikh, Egypt.

An investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.

An international organisation working to mobilise global capital for climate action through various activities including certification and development of standards.

Carbon Disclosure Project. CDP is a charity that runs a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.