Knowledge > Regulations

June 26, 2023

Are regulations being standardised?

The driving force of standardisation

Many founders and investors are awash in spreadsheets trying to answer a growing list of questions for a myriad of frameworks, principles and guidelines. If it seems never ending, the bad news is it’s likely to get a lot worse.

Investors in the EU, UK and US are required to report ESG in line with new regulations, which also require them to report on their portfolio companies. All this means yet more spreadsheets for SMEs and VCs… and even more resources to field the growing flow of questions. But there is an upside.

Because everyone has to report in the same way, regulation will become the driving force in standardisation. Cherry-picking ESG measures and data suppliers today can ultimately only lead to multiple suppliers, more expense and more confusion when it comes to reporting 2-3 years from now. The measures regulators require become the reality of what needs to be reported. De facto.

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The same standards as financial reporting

The release of the International Sustainability Standards Board (ISSB) Standards by the IFRS Foundation in June 2023 marks a significant milestone in the realm of sustainability-related disclosures within capital markets worldwide. These new accounting standards aim to foster trust and confidence in ESG (Environmental, Social, and Governance) and sustainability reporting, ultimately providing crucial information for investors and managers to make informed decisions. The objective is to establish consistency and comparability between non-financial reporting, such as CO2e emissions, and traditional financial reporting.

The UK government, along with approximately 40 other jurisdictions globally, has confirmed its swift adoption of these standards, underlining their commitment to creating a universal reporting framework. Additionally, SMEs will be required to implement a simplified version of the reporting requirements mandated for larger companies, ensuring broad coverage across the business landscape.

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Always be ‘compliance-ready’

You can be certain that your ESG impact is always ‘compliance ready’. Omnevue’s calculations and benchmarks are regularly updated in line with best-practice and changing regulations. And our Auditors undertake Continuous Professional Development (CPD) as part of their professional code of ethics.

Of the leading ESG frameworks and principles based guidelines, Omnevue has the highest alignment with the EU Taxonomy (71%) providing the best coverage of the required data points from the fewest number of measures (31) – an ‘efficiency per metric’ of 2.3%.

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