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Why Grant Thornton
Whether you’re growing in one market or many, looking to operate more effectively, managing risk and regulation, or realising stakeholder value, our firms can help.
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Culture and experience
Grant Thornton’s culture is one of our most valuable assets and has steered us in the right direction for more than 100 years.
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Global scale and capability
Beyond global scale, we embrace what makes each market unique, local understanding on a global scale.
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Join our network
In a world that wants more options for high quality services, we differentiate in the market to grow sustainably in today’s rapidly changing environment.
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Leadership governance and quality
Grant Thornton International Ltd acts as the coordinating entity for member firms in the network with a focus on areas such as strategy, risk, quality monitoring and brand.
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Africa
24 member firms supporting your business.
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Americas
31 member firms, covering 44 markets and over 20,000 people.
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Asia-Pacific
19 member firms with nearly 25,000 people to support you.
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Europe
53 member firms supporting your business.
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Middle East
8 member firms supporting your business.
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Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Forensic services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Mergers and acquisitions
We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer-term strategic goals.
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Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery.
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Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Valuations
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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IFRS
At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
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Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
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Global audit technology
Our global assurance technology platform provides the ability to conduct client acceptance, consultations and all assurance and other attestation engagements.
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Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
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Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Africa tax desk
A differentiating solution adapted to the context of your investments in Africa.
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Banking Holding banking to account: the real diversity and inclusion pictureWe explore how the banking sector can continue to attract, retain and nurture women to build a more diverse and inclusive future.
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Sustainability From voluntary to mandatory ESG: How banks can future-proof their operationsAs we move from voluntary ESG initiatives to mandatory legislation, we explore what the banking sector needs to prioritise.
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IFRS IFRS 9 - Audit of Expected Credit LossesGPPC releases The Auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9
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growthiQ Steering your company to long-term successHistory has something important to tell us about the difficulties of steering a business to long-term success – through seismic shifts in technology, consumer demands and product development. With that in mind it’s unsurprising that over half the world’s largest companies in the early 1900s had shut their doors by the late 1990s. Some, however, have endured.
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International Financial Reporting Standards Implementation of IFRS 17 ‘Insurance Contracts’The auditor’s response to the risks of material misstatement arising from estimates made in applying IFRS 17 ‘Insurance Contracts’
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IFRS Get ready for IFRS 17After twenty years of development the IASB has published IFRS 17 ‘Insurance Contracts’, find out more.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Not for profit Mission: possible – putting impact at the heart of charityGlobal charitable continues to decline and charity leaders are increasingly looking at their own unique impact journey.
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Access to finance Raise finance to invest in changePrepare your business to raise finance to invest in change.
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Private equity firms Private equity in the mid-market: reshaping strategies for 2021When the global COVID-19 pandemic stormed across the globe in early 2020, the private equity sector was hit hard but deals are coming back to the market.
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Mid-market businesses Getting ready for private equity investmentOur specialists explore how private equity firms are now working with their portfolios and how the mid-market can benefit from investment.
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Mid-market businesses Myth-busting private equityNervous about partnering with Private Equity? We explore some of the common myths we come across when speaking to mid-market businesses about PE investment.
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Public sector Helping build the government of tomorrow, todayLearn about the Grant Thornton US public sector team.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Retail How retail is positioning for successCOVID-19 provided some hard lessons for the retail industry. It is time to turn those into sustainable and well executed growth strategies in 2021.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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Technology Mid-market tech companies lead the way on diversity and inclusionWe explore how the mid-market tech sector can continue to build and nurture a culture that’s increasingly more diverse and inclusive for women.
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Tax Resetting global tax rules after the pandemicBusinesses are seeing rising challenges, and finance heads are dealing with a range of new measures. To say the next 12 months are critical for businesses is an understatement.
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TECHNOLOGY International tax reform: the potential impact on the technology industryIn this article, we’ve summarised key elements of the global tax reform proposals, their potential impact on technology industry and advice from our digital tax specialists on what technology companies can do to prepare.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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TMT TMT industry: Fully charged or on standby?Our research revealed five key trends that resonated with Technology, Media and Telecoms (TMT) industry leaders around the world. We asked a panel of our experts from UK, US, India Ireland and Germany, to give us their reaction to the findings.
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Cybersecurity One size fits nothingTechnology companies must adopt a new approach to digital risk: those that successfully develop a reputation for digital trust by demonstrating an unwavering commitment to cyber security and data privacy will be able to carve out a competitive advantage.
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Technology, media & telecommunications Why it’s time for a 5G reality checkFigures suggest the mobile sector is maturing. While data usage continues to soar, mobile revenues are expected to flatten out over the next few years.
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International business Mid-market businesses lifted by rising tide of optimismOptimism among global mid-market business leaders rose to 67% in the first half of this year and they are markedly more optimistic about their prospects with global optimism having increased by 8%.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Hotels COVID-19: Checking in with the hotel industry one year onCOVID-19 provided some hard lessons for the hotel sector. It is time to turn those into sustainable and well executed growth strategies.
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
- By topic
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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COP28: Mid-market firms should seize the opportunity from adaption and innovation
COP28 was the first time there has been a global stocktake on progress against the Paris Agreement.
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Scanning the horizon: Mid-market sets sights on global trade growth
The latest International Business Report (IBR) data shows that mid-market businesses have high expectations for global trade.
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Mid-market sees business optimism reach record high
Grant Thornton's latest International Business Report (IBR) sees optimism among mid-market business leaders reach a record high with 74% optimistic about the outlook for their economy over the next 12 months.
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Women in tech: A pathway to gender balance in top tech roles
Grant Thornton’s 2024 Women in Business data suggests we are far from achieving parity within the mid-market technology sector.
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Women in leadership: a pathway to better performance
What makes the benefits of gender parity compelling is the impact it can have on commercial performance.
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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Women in business: Regional picture
We saw an increase in the percentage of senior management roles held by women, on a global level, but there are some significant regional and country variations.
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Pathways to Parity: Leading the way
To push towards parity of senior management roles held by women, who leads within an organisation is vital.
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Generating real change with a long-term focus
The most successful strategy to achieve parity of women in senior management is one which stands alone, independent of an ESG strategy.
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People at the heart of great business
Businesses have started to put guidelines and incentives in place, focused on driving employees back to the office.
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Focusing and developing a solid strategy around diversity, equity and inclusion
Grant Thornton Greece is pioneering a growing set of diversity, equity and inclusion (DE&I) initiatives that centre around three strategic pillars.
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Ten considerations for preparing TCFD climate-related financial disclosures
Insights for organisations preparing to implement the International Sustainability Standards Board (ISSB)’s Standards.
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COP28
COP28 was the first time there has been a global stocktake on progress against the Paris Agreement.
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Transition Plan Taskforce publishes its final disclosure framework
As organisations in the private sector make commitments and plans to reach net zero, there's a growing need for stakeholders to be able to assess the credibility of their transition plans.
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Promoting ESG excellence through tax
ESG considerations have never been more important for an organisation’s long-term success, but how can tax be used to add value to an ESG agenda?
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International business: Mid-market growth and expansion
The mid-market looks to international business opportunities for growth.
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Top five constraints to international business in the mid-market
Top five major constraints that are testing the mid-market’s ability to grow their businesses internationally.
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Brand and international marketing – breaking global barriers
Brand has been identified as a key driver of mid-market success when looking to grow and develop international business.
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The key to international business: Investing in people
How can recruitment and retention help grow international business?
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Building resilience in international business
Evolving supply chains and trade patterns amid ongoing global uncertainty.
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IFRS Alerts
IFRS Alerts covering the latest changes published by the International Accounting Standards Board (IASB).
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Example Financial Statements
General guidance for preparers of financial statements that supports the commitment to high quality, consistent application of IFRS.
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Insights into IFRS 2
Insights into IFRS 2 summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.
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IFRS 3
Mergers and acquisitions are becoming more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions.
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IFRS 8
Our ‘Insights into IFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas.
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IFRS 16
Are you ready for IFRS 16? This series of insights will help you prepare.
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IAS 36
Insights into IAS 36 provides assistance for preparers of financial statements and help where confusion has been seen in practice.
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IFRS 17
Explaining the key features of the Standard and providing insights into its application and impact.
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Pillar 2
Key updates and support for the global implementation of Pillar 2.
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Global expatriate tax guide
Growing businesses that send their greatest assets – their people – overseas to work can face certain tax burdens, our global guide highlights the common tax rates and issues.
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International indirect tax guide
Navigating the global VAT, GST and sales tax landscape.
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Global transfer pricing guide
Helping you easily find everything you need to know about the rules and regulations regarding transfer pricing and Country by Country reporting for every country you do business with.
Though by no means perfect, deals to phase down coal and end deforestation were agreed.[i] If pledges are kept then the aim of restricting temperature growth to 1.5 C is achievable, but only just. The legacy of COP26 will be radical change for businesses and will be felt profoundly by the mid-market. Delivering on the promises made in Glasgow requires all companies to play their part.
Peter Bodin, CEO, Grant Thornton International Ltd, says, “There are good reasons to be optimistic after COP26. The summit laid the foundations for the path to net zero, and we must now build fast. A large part of that responsibility, and opportunity, will fall to mid-market businesses across the world. Rapid change is needed. The agility required to respond to change, to embrace and implement new ways of working, is where the mid-market shines. I believe the mid-market will be a crucial driving force in reaching net zero. Its many hands can make great progress.
“For Grant Thornton, our commitment to the Glasgow Financial Alliance for Net Zero demonstrates our strong belief in the power of global collaboration and the mobilisation of finance to achieve net zero.”
According to Ivri Verbin, CEO of Good Vision, an affiliate of Fahn Kanne Grant Thornton in Israel, the hopes for COP26 were matched by the energy that delegates brought to the campus in Glasgow.
“What I take from my time at COP26 is that businesses and governments really shared the stage. It’s clear they share a determination and energy to innovate and work together to reach net zero. It is a commitment that the mid-market is at the forefront of, with more than six in ten firms stating that sustainability is now a major priority. Crucially, businesses don’t need to wait for governments – where international agreements fall short, businesses can lead the way.”
Prior to COP26, Grant Thornton outlined four critical steps which will empower mid-market businesses to reach net zero. These are:
- Consolidate reporting frameworks and standards
- Ensure the mid-market has access to funds and projects
- Make things easier: create a route map
- Help the mid-market integrate net zero strategies into their business operations
Here we assess how far COP26 delivered on these important steps and what still needs to be addressed. As the countdown to COP27 in Egypt begins, there are significant opportunities, and questions, for the mid-market.
1. Consolidate reporting frameworks and standards
The need for a globally consistent framework on how companies measure and report their environmental performance was identified as a key requirement for the mid-market. It was therefore a significant development that the IFRS Foundation announced it will create a new board to develop sustainability disclosure requirements.[ii]
The International Sustainability Standards Board (ISSB) will begin work in 2022 with the aim of helping investors and regulators by creating a single set of sustainability disclosure standards.[iii] Importantly, these will address companies’ impacts on sustainability measures relevant to assessing enterprise value and making investment decisions. Primarily focused on climate change, to begin with, the ISSB will then move on to other significant sustainability areas as it continues to build momentum.
This has been an imperative for mid-market businesses which have been forced to navigate multiple non-standardised frameworks, a situation that often caused confusion.
Sarah Carroll, Associate director of financial reporting, Grant Thornton International Ltd, says comprehensive reporting standards will be crucial.
“As demand for high-quality information related to sustainability issues continues to grow, the creation of a comprehensive set of reporting standards to facilitate corporate reporting on these matters will be crucial in the fight against climate change and other key sustainability concerns.”
The ISSB is by no means a straightforward solution. Commentators such as the Financial Times’ Gillian Tett argue that measuring green issues will represent a significant challenge, [iv] in particular Scope 3 emissions. However, for any business seeking capital, through investment or debt, this challenge will no longer be optional.
Mark Hucklesby, director of financial reporting, Grant Thornton International Ltd, adds:
“Having globally consistent sustainability standards will be a gamechanger for multinationals and mid-market companies alike, just as the introduction of International Financial Reporting Standards (IFRS) was when it revolutionised financial reporting 20 years ago. The patchwork of sustainability standards currently on issue has been a frustrating obstacle for companies, particularly those working internationally.
“Much like the adoption of IFRS, our expectation is that companies that are not listed will soon call for some disclosure relief from the sustainability standards that will be issued by the ISSB. What is apparent is businesses, and many entities involved in their supply chains, will have to quickly assess how they are impacted by new sustainability reporting requirements and then decide the most effective way of reporting on them.”
However, and again much like IFRS, it is unclear how many countries will adopt the ISSB’s standards.
Scott Wilson, director, ESG and Sustainability, Grant Thornton UK, notes:
“We called for the momentum to be maintained in aligning reporting frameworks and standards – it’s excellent that this has been achieved as it will reduce the barriers for corporates in playing their part and increased transparency and consistency in reporting will facilitate stakeholder confidence. How well these standards are adopted internationally remains to be seen, and how and when they might be applied to the mid-market is a further unknown at this point, but the direction of travel is positive, and we support it.”
2. Ensure the mid-market has access to funds and projects
The vital progress in reporting frameworks and standards comes hand in hand with the vast private capital commitments made during COP26. The wall of money dedicated to sustainable investments through the Glasgow Financial Alliance for Net Zero now stands at $130 trillion, described by British economist Nicholas Stern as the “the biggest capital reallocation since the Industrial Revolution.[v]
Alasdair Grainger, director – Net Zero, Grant Thornton UK, says the next step is to empower mid-market businesses.
“The allocation of funding was the necessary first step. Businesses must now be empowered to gain access. It is currently unclear how mid-market companies will be able to access the financing they need as they transition to net zero, and whether they will be facilitated in domestic markets to access national and local government projects designed to enable the move to a low carbon economy.”
Alejandro Villaseñor Galan, head of sustainability, Ria Grant Thornton in Italy, adds:
“The mid-market will require support to build the sustainability credentials demanded by public and private investors alike. Inevitably, businesses will be excluded from funding from channels such as banks and private equity until they report sustainability plans based on new ISSB standards.”
Increasingly, businesses will need to fulfil two levels of corporate reporting: Financial, in line with the IFRS and, in the future, audited corporate sustainability reporting – both will be a pre-requisite to accessing capital. For investors, increasingly mandated with the needs to meet sustainability requirements, the ISSB will become the lens through which it views potential investee companies.
3. Make things easier: create a route map
The progress in measuring and reporting sustainability impacts is a crucial outcome of COP26, but for many mid-market businesses, the route to developing a sustainability plan remains unclear. Reporting on progress is a vital, but secondary consideration. To facilitate rapid, global progress, policy-makers must strive to make the net zero transition process as simple as possible for businesses.
Published to coincide with COP26, the UK Government’s Net Zero strategy recognises this and commits to exploring a 'government-led advice service that consolidates and simplifies advice and other support on net zero'.[vi] To empower mid-market businesses to deliver the change we need, services such as these must be implemented rapidly and replicated globally.
Angela Jhanji, director, ESG and sustainability, Grant Thornton US, explains:
“There is no one-size fits all solution to sustainability. It is incumbent on all businesses, large and small, to develop net zero transition plans tailored to their operations and the needs of their stakeholders. However, for mid-market companies which lack the in-house resource and expertise to develop a net zero plan, clear guidance on the steps required is invaluable. Knowing that they’re on the right track is crucial for their own success and the overall transition to a net zero economy.”
4. Help mid-market integrate net zero strategies into business operations
Whilst it was always unlikely that COP26 would help businesses hardwire net zero programmes into their companies, nevertheless it remains a pressing issue.
As Johanna Forsgren, manager, sustainability business advisory, Grant Thornton Sweden, rightly points out, “It’s crucial that we avoid twin track approaches. As well-resourced companies forge ahead with their programmes in response to regulatory requirements, mid-market firms need to ensure they are not left behind. They need to actively collaborate with their stakeholders; understanding what they need – for Scope reporting and other measures – so that they march in step and embrace innovation together. This, in part at least, will help mid-market firms shape their own net zero strategies.”
While many larger businesses are seeking advisory services, government has an important role to play, either through incentives or helping mid-market businesses to develop their knowledge and understanding of what net zero means for their business at an operational level.
Grant Thornton’s own research shows that many mid-market firms are seizing the opportunity and putting sustainability at the core of their business.[vii] 43% of firms globally have already developed a strategy for doing so.
However, for nearly a third of those surveyed, a lack of clarity around what’s required and the regulations is an obstacle. Policy-makers across the world must play an important role in supporting and incentivising mid-market companies’ transition.
COP26 set a course but the mid-market must now navigate its own way
COP26 provided ambition and targets, but never promised to have all the answers for companies. As governments, financial institutions and consumers devote unprecedented attention to climate issues, agile mid-market companies around the world are well placed to respond and to be the engine room in the delivery of the pledges made in Glasgow.
Although delegates have now left Glasgow, the conversations and progress will continue. The journey to net zero is a process and clearly greater than one annual event. In this process, Grant Thornton will continue to be a voice for mid-market firms, ensuring that their vital views are heard and that policy and regulation is created with these firms at the forefront.
Peter Bodin, CEO, Grant Thornton International Ltd, says:
“COP26 delivered for the mid-market in two main areas: it set a pathway to a standards framework that companies can utilise; and it clearly signalled that for those committed to delivering on net zero funding will be available to turn plans into action.
"We have the big picture; now governments and businesses across the world have the opportunity to collaborate and innovate to build the route map and drive change. As we turn to COP27 next year in Egypt, the mid-market businesses which move first, innovating and collaborating internationally, will gain a competitive advantage and lead the way to delivering net zero.”
To understand how your business can seize the opportunities emerging from COP26 and play a leading role in delivering net zero, take a look at our latest insights or read the related content below.
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i. handelsblatt.com - Last minute drama - this is how the Glasgow settlement came about - 14.11.2021
ii. ifrs.org - IFRS Foundation announces International Sustainability Standards Board, consolidation with CDSB and VRF, and publication of prototype disclosure requirements - 03.11.2021
iii. reuters.com - IFRS Foundation's Liikanen expects first climate standard next year - 03.11.2021
iv. ft.com - The green transition may depend on auditors - 04.11.2021
v. ft.com - Climate change economics: ‘The biggest capital reallocation since the Industrial Revolution’ - 10.11.2021
vi. UK Government Net Zero strategy
vii. grantthornton.global - Creating competitive advantage through sustainability - 22.10.2021