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The Better Alignment Project (the Project) brings together five members of the Corporate Reporting Dialogue (CRD) with globally important sustainability-related frameworks and standards2 (the Participants) to explore how they can more effectively support organisations in preparing climate-related and broader environmental, social and governance (ESG) disclosures.

Initiated in 2018, the two-year project responds to market demand, adopting an initial focus on climate-related reporting. To create a defined scope, the alignment work focused on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). This first year’s report is the first output of the Project.

The subject of this report focused on mapping the Participants’ frameworks and standards against the TCFD’s disclosure principles, recommended disclosures and illustrative example metrics, and determining the respective levels of alignment.3 Concurrently, report preparers, report users and wider stakeholders were consulted through online surveys and a global series of roundtables. This report presents the results of the extensive technical mapping and further explains how the frameworks and standards can be used together to support high-quality disclosures on climate and other ESG4 related matters. Finally, the report offers potential areas of future work for the Project.

2 Sustainability-related frameworks and standards in this context also refers to the International <IR> Framework, which is not a sustainability reporting framework per se, but is well-suited to reporting on sustainability issues, such as climate change, on the basis of its multi-capital approach.

3 For the purpose of the Project, alignment was looked at by answering the question ‘to what extent can the information provided under one framework also be used to meet the requirements of another framework, when differences that would not impact the content of such information (such as terminology, structure, level of detail and guidance) are disregarded?’

4 ESG information is commonly used to evaluate organisations on how far advanced they are with sustainability. In this report, we use ‘ESG’ for the most part, but do use ‘sustainability’ in an interchangeable manner.