Sustainability Disclosure Experts Roundtable Held

"On 30/12/2024, the Financial Supervisory Service (FSS) issued an update regarding 'Sustainability Disclosure Experts Roundtable Held'. The roundtable discussion was held to review the current state of sustainability disclosure and discuss ways to support companies in implementing this new regulation. The meeting brought together experts from various fields, including finance, accounting, and environmental studies, to share their insights and experiences on sustainable disclosure practices. Discussions during the roundtable focused on the importance of clear guidelines for companies on what constitutes important information under sustainability reporting standards. Experts emphasized the need for timely disclosure of relevant data to help investors make informed decisions and to promote transparency in the financial markets. The Korea Accounting Standards Board (KASB) announced that it will provide guidance on how to determine the materiality of information in sustainability reports, including examples of factors to consider when assessing the importance of certain information. The discussion also touched upon the need for companies to have a clear understanding of their responsibilities under sustainable disclosure regulations and to be prepared to disclose relevant data. Experts from various organizations, including the Korea Exchange (KRX) and the Korean Environmental Institute, shared their experiences and insights on implementing sustainable disclosure practices in their respective industries. The Financial Supervisory Service (FSS) announced that it will review ways to support companies in implementing sustainability disclosure regulations, including providing guidelines for assessing materiality and promoting education and training programs for company officials. A joint press release from the FSS, KRX, and KASB noted that the roundtable discussion highlighted the importance of sustainability disclosure in promoting transparency and accountability in the financial markets. The organizations emphasized their commitment to supporting companies in implementing sustainable disclosure practices and to promoting a culture of transparency and accountability in the financial sector."