Sustainability now: Foundational reporting concepts

Apr 10, 2025

Diana Stoltzfus, a partner in PwC's National Office and former Deputy Chief Accountant at the SEC, dives deep into the essentials of sustainability reporting. She discusses the vital qualitative characteristics under ESRS and ISSB standards. The importance of connecting sustainability to financial statements and three crucial steps for quantitative measurements are highlighted. Diana also elaborates on disclosure requirements, emphasizing their relevance for informed decision-making in today's regulatory landscape.

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INSIGHT

Foundations of Sustainability Reporting

Foundations of sustainability reporting span qualitative characteristics, connectivity with financial statements, measurement, and general disclosures.
These foundations apply universally, regardless of entity size or industry, and align closely between ESRS and ISSB standards.

INSIGHT

Timeliness in Sustainability Reporting

Sustainability reporting adds timeliness as a qualitative characteristic due to global adoption under ISSB; ESRS meets this via EU legislation.
Timeliness ensures sustainability and financial information are released concurrently for user relevance.

INSIGHT

Relevance and Materiality Connection

Relevance in sustainability reporting means information must have potential to influence user decisions.
This ties closely with materiality, focusing on data useful to report users for decision-making.

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We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability.

In this episode, we explore the foundational concepts that underpin sustainability reporting. From qualitative characteristics and connectivity with financial statements to measurement approaches and general disclosure requirements, we break down what preparers need to know under both the European Sustainability Reporting Standards (ESRS) and International Sustainability Standards Board (ISSB) standards.

In this episode, we discuss:

1:52 – An overview of the foundations of sustainability reporting
3:10 – The qualitative characteristics of sustainability reporting under ESRS and ISSB standards
15:29 – Connectivity with the financial statements
18:12 – Three steps to develop quantitative measurements
29:31 – General disclosure requirements under ESRS and ISSB standards

Looking for the latest developments in sustainability reporting?

Read Chapter 5 of PwC’s Sustainability reporting guide, Foundations of sustainability reporting
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About our guest
Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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