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Industry papers

Last updated 3 November 2022

The International Sustainability Standards Board (ISSB), the US Securities and Exchange Commission (SEC) and the European Commission together with the European Financial Reporting Advisory Group (EFRAG), demand greater accountability from the mining sector, retailers, manufacturers and waste management, among others. CEOs regularly ask the ISSB, SEC and EFRAG to clarify what it really means, in their opinion, to operate in a sustainable manner. Each board or commission has their own perspective on how to achieve more sustainable outcomes.

  • a.) The ISSB's standards include the General Requirements for Disclosure of Sustainability-Related Financial Information (the "General Requirements Standard") and a Climate-Related Disclosures framework (the "Climate Standard").
  • b.) EFRAG would require disclosure in line with terms published the CSRD.
  • c.) The SEC would require registrants to disclose GHG emissions from upstream and downstream activities in its value chain (Scope 3), if material or if the registrant has set a GHG emissions target or goal that includes Scope 3 emissions.

All of the proposals rely on recommendations by the Task Force on Climate-related Financial Disclosures (TCFD) to some extent. The EU Non-financial Reporting Directive(NFRD) also serves as an important reference point. See below for descriptions of these bodies.

Current versus Proposed Quantitative Approaches

Quantitative Data

Quantitative data in support of net zero commitments typically focus on carbon dioxide (CO2), although governments have recently expanded their commitments to include methane (CH4). The Kyoto Protocol, however, calls for reductions among seven gases: carbon dioxide (CO2); methane (CH4); nitrous oxide (N2O); hydrofluorocarbons (HFCs); nitrogen trifluoride (NF3); perfluorocarbons (PFCs); and sulphur hexafluoride (SF6).

Current quantitative data tends to include

  • KPIs
  • ratings score factors
  • science based targets

Quantitative data is moving into areas such as intensity targets, capital deployment, internal carbon prices and remuneration. More specific examples include

  • metrics used to assess progress towards reaching the target and achieving its strategic goals
  • milestones or interim targets
  • % of suppliers meeting commitments and obligations within each international agreement on hazardous waste
  • hazardous waste generated per capita
  • proportion of hazardous waste treated, by type of treatment
  • national electronics and electricals recycling rate
  • tons of material recycled
  • number of companies publishing sustainability reports

MobiCycle Tech proposes tools to capture the necessary data

  • eWaste Advisor
  • eWaste Directory
  • eWaste Media
  • eWaste Tools
  • Where are WEEE?

Qualitative Data

Current qualitative data may include

  • marketing campaigns
  • community projects
  • CSR reports
  • press releases

Proposed qualitative data amount to transition risks, physical risks and climate related opportunities.

  • how the target compares with those created in the latest international agreement on climate change and whether it has been validated by a third party
  • physical risks
  • climate-related opportunities

MobiCycle Consulting offers

  • MobiCycle can identify your upstream and downstream electronics suppliers (based on available data).
  • We map your processes around electronics management (including your suppliers) and retrieve data from your team, your suppliers and external resources.
  • Next, we combine the process maps and data into a preliminary report. We use the preliminary report to calculate Scope 3 emissions.
  • Create a Scope 3 emissions report (the preliminary report with emissions calculations).
  • Finally, we integrate the Scope 3 emissions report with your other Scope 3 reporting, financial reporting, disclosures, etc.
  • Bonus: We repeat step 5 for biodiversity and for pollution.

MobiCycle Marketing offers

  • Get feedback on your marketing paraphenalia. From your websites, to social media, to speeches.
  • Connect your successes on our platform to your marketing campaigns.

Current qualitative data may lead to catchy anecdotes. They may entertain everyone, but ultimately convince no one.

On "double materiality"

What is the impact of a company's business on the environment? Risk mananagement typically assesses the reverse - the impact of the environment on a business. Banks and fund managers often focus on how climate change may affect the company receiving the loan or investment. Their products do not adequately reflect the full spectrum of risks of climate change. Double materiality asks us to look at risk from both perspectives.

Relevant Bodies


The EU's Corporate Social Reporting Directive (EU Directives include 2013/34/EU, 2004/109/EC, 2006/43/EC and Reg EU 537/2014) enables reporting on circularity for businesses. Our take make waste approach contributes hundreds of tons of material annually. Economic growth leads to greater damage to the planet. Less than 10 percent of the resouces we consumer are returned to the circular economy. The connection to greenhouse gas emissions is also clear. Over 70% of emissions is tied to consumption. Indicators are needed to measure and track the transition from a linear model to a circular one.

CSRD affects approximately 50,000 companies. Rather than a focus on how your business will survive climate change, you will need to ask how your business can change its model and strategy to substantially reduce its footprint. It is proposed that you will have to report yearly from 2024 (based on 2023 transactions) on at least 9 areas. Your declarations will be audited.


The Financial Stability Board (FSB) created the Task Force on Climate-related Financial Disclosures (TCFD) to identify and report risks and opportunities. Physical risks include a.) acute risks which are event-driven; and b.) chronic risks, which arise from long term shifts in climate patterns. Transition risks address the lost revenue facing companies as we move to an economic growth model that limits global warming to well below 2 degrees Celsius. In MobiCycle's view, the emphasis on risks and opportunities lead


SFRD, the EU's Sustainable Financial Reporting Directive, applies directly to financial institutions focused activities around climate adaptation and mitigation. It pushes for greater transparency and comparability and will ultimately be judged by how well it discourages greenwashing and encourages activities that support the planet. Principal Adverse Impact indicators. SFDR champions the idea of PAIs measure the impact of investments undertaken on the environment.

CDSB (consolidated into ISSB)

The Climate Disclosure Standards Board accounts wanted to merge climate metrics for 'natural' resources with annual reports. It was guided by the TCFD. As such, it asked customers to identify their risks and opportunities. On 31st January 2022, the Climate Disclosure Standards Board (CDSB) was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB). The ISSB has a greater focus on activities.


Financial reporting drives a stable market economy and good governance. Transparency is key to ensure reporting on the planet is valued to the same degree as financial reporting.

The ISSB, SEC and EFRAG are right to reject current approaches to data for two reasons. Information is often unreliable or not fit for purpose. Mature KPIs do not reflect changes on the ground. Nonetheless, data can be a powerful motivator. The story of your ESG data should gradually mature into a grand narrative. Win hearts to win minds. Enrich your business processes and, in time, change behavior.

Many businesses struggle with the 'how' of reporting on the circular economy. Why not get started today? Eliminate waste, maintain high quality, protect biodiversity and break your dependence on material resouce extraction. Our solutions are designed to help you reduce Scope 3 emissions, protect biodiversity, minimize pollution, avoid fines and protect your reputation.

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