Cross-border Tax Talks Sustainability and Transparency for Tax Professionals
Feb 6, 2024
Heather Horn, PwC's Assurance National Thought Leader and host of the PwC Accounting Podcast, joins Doug McHoney to dive into the rising importance of sustainability reporting. They discuss the EU’s Corporate Sustainability Reporting Directive and its implications for businesses. The conversation highlights the challenges in navigating new compliance demands while maintaining confidentiality. Horn emphasizes the crucial link between tax transparency and sustainability, calling for greater collaboration between tax and sustainability teams to adapt to evolving regulations.
AI Snips
Chapters
Transcript
Episode notes
Sustainability Reporting Shift
- Sustainability reporting has shifted from voluntary to increasingly mandatory, influenced by investor demand and regulations like the SEC's proposed climate rules.
- This shift marks sustainability as a core business element, not just a sideline issue.
Prepare for Global Reporting Rules
- Companies must prepare for new sustainability reporting rules affecting multiple jurisdictions, especially the EU's CSRD and California's climate disclosure rules.
- Start planning internally as these will require detailed environmental, social, and governance disclosures soon.
CSRD Requires Broad Disclosures
- The EU's CSRD is broader than climate disclosure, covering 12 sustainability topics including environmental, social, and governance issues.
- It also requires supply chain disclosures, impacting global companies connected to the EU market.