Professor Dr. Mohammad Nurunnabi
Prince Sultan University (PSU), in collaboration with CPA Australia, the Saudi Organization for Certified Public Accountants (SOCPA), and the University of Cambridge Judge Business School, successfully hosted a specialized masterclass on Environmental, Social, and Governance (ESG) reporting on Wednesday, August 16, 2023.
The event took place from 12:00 PM to 3:00 PM at Prince Sultan University's Auditorium Building B105, bringing together PSU faculty, members of both SOCPA and CPA Australia, and business community leaders for an informative and important look at key trends in the global ESG reporting environment.
Expert Insights on Global ESG Disclosure Trends
In this special session, Dr. Mike Willis, BS, MBA, PhD, University of Cambridge Management Practice Associate Professor and Director of the Cambridge Executive Master of Accounting Programme, discussed key issues in relation to ESG disclosure and the rapidly evolving corporate reporting ecosystem.
Dr. Willis addressed how ESG disclosure requirements are rapidly and significantly increasing around the world, reflecting a broad and unprecedented re-thinking of the corporate reporting landscape. His presentation emphasized how professionals from the board of directors, the C-suite, finance, accounting, audit, and other areas need to understand these requirements to take opportunities for thought leadership, early adoption, and differentiation.
Comprehensive Coverage of ESG Frameworks
The masterclass provided an overview of key trends and potential paths forward in global ESG disclosures, highlighting how accounting and finance professionals can lead in this critical area. Topics covered included:
- The Financial Reporting Ecosystem
- Key ESG Frameworks:
- Task Force on Climate-Related Financial Disclosures (TCFD)
- International Sustainability Standards Boards (ISSB)
- European Sustainability Reporting Standards (ESRS)
- US Securities and Exchange Commission (SEC) Proposed Amendment
Learning Outcomes and Networking Opportunities
Participants gained valuable knowledge with two primary learning outcomes:
- Understanding key trends and potential paths in ESG disclosures
- Learning how accounting professionals can lead in ESG reporting
The session included refreshments and valuable networking opportunities, allowing participants to engage with fellow professionals and exchange insights on sustainability practices and ESG implementation strategies.
Commitment to Sustainable Development Goals and Community Outreach
This successful initiative reflects Prince Sultan University's dedication to offering courses that address sustainability and the United Nations Sustainable Development Goals (SDGs). The university has integrated full-degree programs and elective courses specifically designed to prepare students and professionals for the evolving landscape of sustainable business practices and ESG reporting requirements.
As part of its commitment to education for SDGs in the wider community, Prince Sultan University organized this masterclass as a dedicated outreach educational activity, extending knowledge beyond its campus to include alumni, local residents, and professionals from diverse backgrounds throughout the region.
Diverse Professional and Community Participation
The masterclass welcomed professionals from various sectors, including accounting, finance, law, corporate sustainability, as well as students, alumni, and members of the local community interested in understanding the future of ESG reporting and its implications for business and regulatory environments.
The event represents another step forward in Prince Sultan University's commitment to providing quality education on sustainability and preparing current and future leaders to address global challenges through ESG principles, while fostering community engagement and knowledge sharing.