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Memo of Understanding on Sustainability and ERM Signed

On April 7, the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and the World Business Council for Sustainable Development (“WBCSD”) signed a Memorandum of Understanding to help companies with sustainability and enterprise risk management (“ERM”) issues. The collaboration will focus on the development of interpretive guidance regarding embedding sustainable development matters into COSO’s Enterprise Risk Management Framework. This effort will serve as the basis for uniting the way businesses consider sustainability concerns in their risk management processes and how these risks are disclosed to investors. More on the COSO and WBCSD’s Memorandum of Understanding is available in the official press release.

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Sustainability Guide Coming in 2017

Early next year, the American Institute of Certified Public Accountants’ (“AICPA”) Auditing Standards Board (“ASB”) is expected to publish its guide on sustainability reporting. The forthcoming Audit and Accounting Guide will be based on an ASB task force’s work on a proposed Standard for Attestation Engagements concerning sustainability. Plans for the formal standard were scrapped in May. During Baruch College’s Audit Conference this week, ASB chair Michael Santay said the board wants to provide auditors and their clients a framework until clear financial reporting and auditing guidelines for sustainability emerge. The ASB will count on sustainability reporting groups like the. Read More.

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GSA Leading the Charge for Reusing and Recycling Electronics

The General Services Administration (“GSA”) is reviewing comments on proposed regulations to reuse and recycle electronics. The proposed regulations identify a variety of methods for disposing of functional and nonfunctional electronics owned by federal agencies. Besides the obvious options of reusing them within the agency, transferring them to other agencies, or recycling them with certified recyclers, another option, which GSA has already begun using, is manufacturer take-back programs. The manufacturer take-back programs allow federal agencies to return used electronics to the original seller. In April 2014, Kevin Kampschroer, Deputy Senior Sustainability Official for GSA, reported to a Congressional committee on. Read More.

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