| CODE | ACC5986 | ||||||||
| TITLE | Environmental, Social, and Corporate Governance for Accountants | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Accountancy | ||||||||
| DESCRIPTION | This study-unit will develop a holistic grasp of ESG concepts, their origins and their practical applications. It will analyse the current reporting landscape, including the requirements of the EU Corporate Sustainability Reporting Directive (CSRD), EU Taxonomy, the Sustainable Finance Disclosure Regulation (SFDR) and other relevant regulations. It will also explore the role of accountants in generating, reporting and verifying the information required by these regulations. Study-unit Aims: This study-unit aims to provide accountancy students with an in-depth understanding of the requirements of the current reporting regulations. It will provide the student with a good balance of theoretical knowledge on ESG concepts and their practical application. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: a) Identify and explain the ESG concepts, their origins and their practical applications; b) Explain Environmental, Social and Governance (E, S, G) aspects independently; c) Recognise the requirements of the CSRD, EU Taxonomy, SFDR and other relevant regulations; d) Describe the requirements of specific ESRS and the accounting and non-accounting information required to fulfill those requirements; e) Explain and apply the concept of double materiality; f) Identify the latest reporting technology tools used in ESG reporting; g) Identify the principles of auditing and provide assureance on sustainability information; h) Critically recognise the interconnected nature of sustainability practices and their influence on financial performance; i) Establish a comprehensive perspective on how ESG considerations contribute to decision-marketing and reporting. 2. Skills By the end of the study-unit the student will be able to: a) Describe how the CSRD, EU Taxonomy, SFDR and other relevant regulations will impact business organisations; b) Establish practical skills in measuring an entity's baseline and carbon footprint; c) Design procedures for the verification of the information required; d) Formulate ESG strategies, with a specific focus on guiding organisations toward a Net Zero transition; e) Implement ESG principles within actual business contexts; f) Apply theoretical knowledge to practical scenarios, fostering a hands-on approach to ESG integration in the field of business. Main Text/s and any supplementary readings: 1. Understanding the current reporting landscape 1.1. CSRD: https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en 1.2. EU Taxonomy: https://finance.ec.europa.eu/sustainable-finance/tools-and-standards/eu-taxonomy-sustainable-activities_en 1.3. SFDR: https://finance.ec.europa.eu/sustainable-finance/disclosures/sustainability-related-disclosure-financial-services-sector_en 1.4. Overview of other directives 1.4.1. CDDD: https://commission.europa.eu/business-economy-euro/doing-business-eu/corporate-sustainability-due-diligence_en 1.4.2. CBAM: https://taxation-customs.ec.europa.eu/carbon-border-adjustment-mechanism_en 1.4.3. EPBD: https://energy.ec.europa.eu/topics/energy-efficiency/energy-efficient-buildings/energy-performance-buildings-directive_en#directive-amendments 1.4.4. EED: https://energy.ec.europa.eu/topics/energy-efficiency/energy-efficiency-targets-directive-and-rules/energy-efficiency-directive_en 1.4.5. Waste Framework Directive: https://environment.ec.europa.eu/topics/waste-and-recycling/waste-framework-directive_en 1.4.6. Directive on single-use plastics: https://environment.ec.europa.eu/topics/plastics/single-use-plastics_en 1.4.7. Packaging Directive: https://environment.ec.europa.eu/topics/waste-and-recycling/packaging-waste_en 2. Baseline Carbon footprint measurement https://www.eib.org/attachments/lucalli/eib_project_carbon_footprint_methodologies_2023_en.pdf 3. Double Materiality: 3.1. https://www.efrag.org/Assets/Download?assetUrl=%2Fsites%2Fwebpublishing%2FMeeting%20Documents%2F2302241036281819%2F04-02%20Materiality%20Assessment%20Implementation%20Guidance%20SRB%20231115%20clean.pdf (draft for approval) 3.2. https://www.globalreporting.org/media/jrbntbyv/griwhitepaper-publications.pdf 4. ESG Corporate Strategy and transition to Net Zero https://op.europa.eu/en/publication-detail/-/publication/92f6d5bc-76bc-11e9-9f05-01aa75ed71a1 5. Assurance of sustainability information 5.1. ISAE 3000: https://www.iaasb.org/publications/non-authoritative-guidance-applying-isae-3000-revised-sustainability-and-other-extended-external 5.2. ISSA 5000 (will probably replace ISAE 3000 for sustainability assurance engagement): https://www.iaasb.org/publications/proposed-international-standard-sustainability-assurance-5000-general-requirements-sustainability |
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| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Ylenia Caruana Antoine Fenech Ivan Paul Grixti Michaela Valletta |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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