Over the last few years investors, companies, governmental regulators, international organizations have been increasingly calling for standardization of sustainability reporting by corporations and State-Owned Enterprises, in the longer term, by governments. They also see an urgent need to consolidate a wide range of organizations and initiatives currently involved in this agenda.
Moreover, sustainable finance and sustainability reporting are interconnected and mutually reinforcing. Together, they can create a virtuous cycle of sustainable investment, driving the transition to a more sustainable and equitable global economy. Ultimately, the link between capital markets and sustainability criteria is foundational to achieving our shared climate and sustainability goals and building a more resilient global economy.
On the other hand, in order to ensure that the financial information prepared by the governmental is reliable, relevant, and useful for decision making process, it is important to set up and put in place a solid reconciliation mechanism between different types of information produced by the Public Financial Management (PFM) system, including budget, accounting, and fiscal statistics.
The main objectives of this face-to-face workshop will be focusing on:
- Present and discuss the latest developments and key stakeholders involved in sustainability reporting
- Explore conceptual foundations and key differences between sustainability and financial reporting
- Understand the implication of sustainability reporting in PSA and reporting
- Discuss the reconciliation approaches between budget, accounting, and fiscal statistic reporting
- Discuss reporting reconciliation from the perspective of best practices and country experiences
- Showcase Georgian experience in PSA implementation, challenges, and next steps
- Present the current status of PULSE pilot assessments in Armenia and Ukraine