At the outset of your reporting cycle, you should review the approach you took in the previous cycle and assess it against current (or incoming) regulatory and investor reporting requirements. The global climate reporting landscape is fast-moving, so it is important for your company to regularly assess your climate disclosure requirements.

Non-compliance with reporting regulations holds significant potential risk for your company, mostly in the form of penalty fees. In the EU, for example, individual member states have the flexibility to impose penalty fees for non-compliance with the Corporate Sustainability Reporting Directive, which could result in your business being charged large sums.