PwC's accounting podcast 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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Three Steps of Measurement
- Measurement involves three iterative steps: selecting the approach, collecting data, and calculating disclosures.
- Selecting between direct and indirect measurement depends on data availability and technique feasibility.
Direct Measurement Basics
- Direct measurement uses exact data from reliable internal systems like payroll or energy usage.
- Absence of such data requires adaptation of systems or indirect measurement approaches.
Utility Usage Data Capture Example
- Companies might record utility payments without usage data, requiring system changes to capture needed sustainability info.
- This example illustrates adapting existing systems to new sustainability data requirements.