EER Glossary of Terms

Term

Definition

CDP

Carbon Disclosure Project

CDSB

Climate Disclosures Standards Board

corporate responsibility 

An entity's responsibility to those groups and individuals that it can affect or have an impact on, i.e. its stakeholders, and society at large.

CRD

Corporate Reporting Dialogue

EER

Extended External Reporting

ESG

Environmental, Social & Governance

ESG reporting (environmental, social and governance)

Refers to the three central factors in measuring the sustainability and ethical impact of an entity. These help determine future financial performance in terms of return and risk.

FASB

Financial Accounting Standards Board

FMA

Financial Markets Authority

FMC reporting entity

An entity required to report under the terms of the Financial Markets Conduct (FMC) Act 2013 

FSB

Financial Stability Board

GAAP

Generally-accepted Accounting Practice. XRB’s accounting standards based on GAAP offer uniformity in how companies report their financial performance.

General Purpose Financial Reports

A set of general-purpose financial statements including a balance sheet, income statement, statement of owner's equity/retained earnings, and statement of cash flows.

GRI

Global Reporting Initiative

GRI Standards

The first global standards for sustainability reporting. They feature a modular, interrelated structure, and represent the global best practice for reporting on a range of economic, environmental and social impacts.

IASB

International Accounting Standards Board

IFAC

International Federation of Accountants

IFRS

International Financial Reporting Standard

IFRS Standards

International Financial Reporting Standards—usually called IFRS—are standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB) to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.

<IR>

Integrated Reporting

IIRC

International Integrated Reporting Council

integrated reporting

The integrated representation of an entity's performance in terms of both financial and other value-relevant information.

ISO

International Standards Organisation

management commentary

A narrative report from management that relates to financial statements prepared in accordance with XRB accounting standards.

management discussion and analysis

A section within an entity’s report where executives analyse the company's performance, including a discussion of compliance, risks, and future plans, such as goals and new projects.

materiality 

A concept or convention within auditing and accounting relating to the importance or significance of an amount, transaction, or discrepancy.

non-financial information

A process of gathering and disclosing data on non-financial aspects of an entity’s performance— including environmental, social, employee and ethical matters, and defining measurements, indicators and sustainability goals based on the company's strategy.

non-financial reporting

The disclosure of an entity’s social, environmental and human rights information.

non-GAAP financial information

Alternative indicators of net worth where an entity's earnings are adjusted to exclude certain items, e.g. earnings before interest and taxes (EBIT); earnings before interest, taxes, depreciation, and amortisation (EBITDA).

NZX

New Zealand Stock Exchange

SASB

Sustainability Accounting Standards Board

SDGs

The United Nation's 17 Sustainable Development Goals

sustainability reporting

A report that gives information about and entity’s economic, environmental, social and governance performance.

TCFD

Taskforce on Climate-related Financial Disclosures

UNGC

United Nations Global Compact

WBCSD

World Business Council for Sustainable Development