{"id":70472,"date":"2022-12-02T12:31:00","date_gmt":"2022-12-02T10:31:00","guid":{"rendered":"https:\/\/www.sage.com\/en-za\/blog\/?p=70472"},"modified":"2025-05-07T15:50:35","modified_gmt":"2025-05-07T13:50:35","slug":"full-disclosure-reporting-developments-from-cop27","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-za\/blog\/full-disclosure-reporting-developments-from-cop27\/","title":{"rendered":"New developments towards a sustainable, standardised financial system"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/category\/trends-insights\/\" class=\"entry-header__link\">Trends &amp; Insights<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tNew developments towards a sustainable, standardised financial system\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2022-12-02T12:31:00+02:00\">December 2, 2022<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"New developments towards a sustainable, standardised financial system\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-za\/blog\/full-disclosure-reporting-developments-from-cop27\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-za\/blog\/author\/tarryn\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/05\/Giebz_Family-session-119-350x350.jpg\" class=\"entry-author__image\" alt=\"\" \/>\t\t\t\t<span class=\"entry-author__name\">Tarryn Giebelmann<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"\">COP27 was bittersweet.<\/p>\n\n\n\n<p class=\"\"><strong>The good news<\/strong>: Developing countries scored a victory with the announcement of the loss and damage fund. Through this fund, rich nations\u2014which are largely responsible for climate change\u2014can compensate poorer nations, who are least responsible yet suffer the most from the impact.<\/p>\n\n\n\n<p class=\"\"><strong>The bad news<\/strong>: Hoped-for commitments around ending greenwashing and increasing restrictions on carbon markets were not announced\u2014even though experts agree that the target to keep global warming under 1.5C is out of reach.<\/p>\n\n\n\n<p class=\"\"><strong>The notable news<\/strong>: Although the final COP27 agreement was described as &#8220;disappointing&#8221;, &#8220;inadequate&#8221;, &#8220;lacking in ambition&#8221;, and a &#8220;missed opportunity to act on climate change&#8221;, there were a number of noteworthy announcements that started important conversations for finance professionals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-standards-and-frameworks\">New standards and frameworks<\/h2>\n\n\n\n<p class=\"\">One of the things businesses struggle with most is deciding which reporting framework to use when measuring their progress towards sustainability goals.<\/p>\n\n\n\n<p class=\"\">That&#8217;s because there are numerous codes and guidelines on ESG reporting available but no universally accepted standards just yet. This makes it a challenge to know which reporting framework is right for your business.<\/p>\n\n\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-2ca8004c-3463-4e39-a6ac-20359a4352bb\"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-2ca8004c-3463-4e39-a6ac-20359a4352bb\"\n\t>Download your free ESG Ebook<\/a>\n<\/div>\n\n\n\n\n<p class=\"\">Well, now we can add two more to that list:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-transition-plan-disclosure-framework\">The Transition Plan Disclosure Framework<\/h3>\n\n\n\n<p class=\"\">Many companies have said they want to become net-zero, but early plans to reach these goals have been of varying quality and often don&#8217;t give enough information about what is being done in the short term.<\/p>\n\n\n\n<p class=\"\">This makes it hard to judge the credibility of individual plans or compare approaches to net-zero transition planning across multiple entities, says the UK&#8217;s Transition Plan Taskforce (TPT).<\/p>\n\n\n\n<p class=\"\">The TPT wants businesses and financial firms to come up with high-quality plans that show how they will reach their goals through short-term actions and greater accountability.<\/p>\n\n\n\n<p class=\"\">To help businesses with their planning, the TPT launched the <a href=\"https:\/\/transitiontaskforce.net\/wp-content\/uploads\/2022\/11\/TPT-Disclosure-Framework.pdf\" rel=\"noopener noreferrer\"><strong><em>Transition Plan Disclosure Framework<\/em><\/strong><\/a>, a set of national regulations that it hopes will be the &#8220;gold standard&#8221; global template for companies transitioning to net-zero carbon emissions.<\/p>\n\n\n\n<p class=\"\">The document includes guidance on the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><!--[endif]-->What a good transition plan should cover<\/li>\n\n\n\n<li><!--[endif]-->Three guiding principles: Ambition, Action, and Accountability<\/li>\n\n\n\n<li><!--[endif]-->A strategic and rounded approach to transition planning<\/li>\n\n\n\n<li><!--[endif]-->Disclosing a transition plan<\/li>\n\n\n\n<li><!--[endif]-->The TPT Disclosure Framework<\/li>\n<\/ul>\n\n\n\n<p class=\"\">The Framework is open for public comment and should come into effect next year. These recommendations will inform the UK&#8217;s regulatory requirements on transition plan disclosures.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-wave-1-framework\">The Wave 1 framework<\/h3>\n\n\n\n<p class=\"\">Global trade is critical to achieving the Sustainable Development Goals (SDGs), advancing inclusive development, and helping to mitigate climate change.<\/p>\n\n\n\n<p class=\"\">But there are some challenges to overcome to ensure that global trade supports sustainability.<\/p>\n\n\n\n<p class=\"\">One challenge is that, while there are various standards for sustainable goods and suppliers, there is no widely accepted method of measuring the sustainability of a <a href=\"https:\/\/www.sage.com\/en-za\/blog\/how-to-rebuild-your-supply-chain-resilience-during-covid-19\/\" rel=\"noopener noreferrer\">global supply chain<\/a>.<\/p>\n\n\n\n<p class=\"\">Similarly, no standards have been developed to define sustainable trade in a clear and robust manner.<\/p>\n\n\n\n<p class=\"\">The International Chamber of Commerce&#8217;s (ICC&#8217;s) Wave 1 Framework aims to close this gap by defining a minimum viable, yet fully workable and implementable, framework. It will initially be applied to the textiles industry before expanding more widely.<\/p>\n\n\n\n<p class=\"\">It sets out an agreed industry definition of sustainable trade, considering both environmental and socioeconomic factors, and covers the entire lifecycle of an international trade transaction.<\/p>\n\n\n\n<p class=\"\">Wave 1 relies on a simplified scoring system to allow it to be readily tested by banks and corporates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-calls-for-overhaul-of-international-finance-institutions\">Calls for overhaul of international finance institutions<\/h2>\n\n\n\n<p class=\"\">A group of 10 major economies, including all of the G7 group, has called for a fundamental reform of the World Bank and the International Monetary Fund (IMF). They say the current models\u2014which were created 80 years ago\u2014are no longer appropriate in this time of global crises.<\/p>\n\n\n\n<p class=\"\">The World Bank and IMF loan or grant money from rich, industrialised nations to developing countries to help alleviate poverty or to help the countries recover from disasters. But the model was <a href=\"https:\/\/www.nytimes.com\/2022\/11\/09\/climate\/imf-world-bank-climate-cop27.html\" rel=\"noopener noreferrer\">designed for a different age<\/a>.<\/p>\n\n\n\n<p class=\"\">With climate change causing more floods, droughts, fires, and hurricanes, developing countries\u2014already saddled with debt\u2014need money to recover from climate disasters and invest in preparing for the next one.<\/p>\n\n\n\n<p class=\"\">The proposals aim to make the finance institutions fit to address global challenges, including climate action, biodiversity conservation, and pandemic preparedness.<\/p>\n\n\n\n<p class=\"\">If implemented, the proposed reforms would make significantly more money available to developing countries to mitigate the effects of climate change, deploy those funds faster, offer struggling countries lower interest rates, and allow them to pause debt payments following major disasters.<\/p>\n\n\n\n<p class=\"\">A reformed World Bank and IMF might also attract more private investment to help developing countries prepare for disasters and transition to renewable energy. The new loss and damage fund may be the catalyst for this.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-clarity-for-transitioning-to-net-zero\">More clarity for transitioning to net-zero<\/h2>\n\n\n\n<p class=\"\">Although experts agree that the goal to limit global warming to 1.5C is slipping, if not already out of reach, they also say that every emission removed from the atmosphere is progress.<\/p>\n\n\n\n<p class=\"\">Here are three initiatives announced at COP27 and designed to fast-track the transition to net-zero.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-net-zero-data-public-utility\">Net-Zero Data Public Utility<\/h3>\n\n\n\n<p class=\"\">Philanthropist Michael Bloomberg announced the <a href=\"https:\/\/www.nzdpu.com\/\" rel=\"noopener noreferrer\"><em>Net-Zero Data Public Utility<\/em><\/a>, a plan to create a <strong>common model for climate-related corporate data<\/strong>. This would tether companies, ratings agencies, and market index services to a <strong>single shared standard <\/strong>that will allow all stakeholders to easily access and interpret climate commitments and actions taken.<\/p>\n\n\n\n<p class=\"\">The Utility will provide an open-access, &#8220;single source of consistent, core climate data that all providers, actors, and users can build on&#8221; and will advise on the key data needed to support and accelerate the transition to a net-zero economy.<\/p>\n\n\n\n<p class=\"\">The plan was co-authored by French President Emmanuel Macron, and the Climate Data Steering Committee (CDSC) includes major international standards bodies, policymakers, and data service providers such as Bloomberg, Moody&#8217;s, S&amp;P Global, the London Stock Exchange Group, Morningstar, and MSCI.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-un-and-iso-publish-net-zero-guidelines\">The UN and ISO publish Net-Zero Guidelines<\/h3>\n\n\n\n<p class=\"\">The United Nations and the International Organization for Standardization (ISO) launched the <a href=\"https:\/\/www.iso.org\/netzero\" rel=\"noopener noreferrer\"><strong>Net-Zero Guidelines<\/strong><\/a><strong> to help organisations construct net-zero emissions plans<\/strong>.<\/p>\n\n\n\n<p class=\"\">Described as a core reference text and practical guide, the Guidelines aim to &#8220;bring global actors into alignment, ratchet up ambition, and address greenwashing&#8221;. More than 1,200 experts from over 100 countries contributed to the Net-Zero Guidelines.<\/p>\n\n\n\n<p class=\"\">They will also serve as a reference point for other standard setters, such as the International Sustainability Standards Board (ISSB), which wants to create a global baseline for corporate climate disclosures.<\/p>\n\n\n\n<p class=\"\"><a href=\"https:\/\/www.iso.org\/obp\/ui\/en\/#iso:std:iso:iwa:42:ed-1:v1:en\" rel=\"noopener noreferrer\">Download the guidelines here<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-un-recommendations-to-stop-greenwashing\">UN recommendations to stop greenwashing<\/h3>\n\n\n\n<p class=\"\">The UN High-Level Expert Group on Net-Zero Commitments of Non-State Actors (HLEG) published <a href=\"https:\/\/www.un.org\/sites\/un2.un.org\/files\/high-level_expert_group_n7b.pdf\" rel=\"noopener noreferrer\">new recommendations<\/a> that businesses, financial institutions, cities, and regions should satisfy to be able to call themselves net-zero contributors, saying the planet cannot afford delays, excuses, or more greenwashing.<\/p>\n\n\n\n<p class=\"\">The recommendations set tight definitions for what it means to be net zero and net zero\u2010aligned, including having both long-term pledges and short-term targets.<\/p>\n\n\n\n<p class=\"\">Recommendations for non-state actors are clear that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><!--[endif]-->They cannot claim to be net-zero while still investing in new fossil fuel supply or engaging in deforestation.<\/li>\n\n\n\n<li><!--[endif]-->They cannot buy cheap carbon credits instead of immediately reducing absolute emissions across their entire supply chains. High-quality credits should be used over and above these efforts to help decarbonise developing countries.<\/li>\n\n\n\n<li><!--[endif]-->They must align their governance and business strategies with their climate commitments and link executive pay to climate action and demonstrated results.<\/li>\n<\/ul>\n\n\n\n<p class=\"\"><a href=\"https:\/\/www.un.org\/sites\/un2.un.org\/files\/high-level_expert_group_n7b.pdf\" rel=\"noopener noreferrer\">Read all ten recommendations here<\/a>.<\/p>\n\n\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-17a42960-73f4-4567-a988-18a8e5c17857 \"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-17a42960-73f4-4567-a988-18a8e5c17857%20\"\n\t>Download your free climate impact of SMEs report <\/a>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-business-of-climate-recovery\">The Business of Climate Recovery<\/h2>\n\n\n\n<p class=\"\">And finally, the World Business Council for Sustainable Development (WBCSD) published <a href=\"https:\/\/www.wbcsd.org\/Overview\/Policy-Advocacy-and-Member-Mobilization-PAMM\/Resources\/Business-of-Climate-Recovery-Accelerating-Accountability-Ambition-and-Action\" rel=\"noopener noreferrer\">The Business of Climate Recovery: Accelerating Accountability, Ambition and Action report<\/a>, which serves as a business implementation agenda.<\/p>\n\n\n\n<p class=\"\">It sets out specific interventions, proposals, and policy ideas for accelerating the global decarbonisation of business, which it says can &#8220;radically advance the international climate change agenda in the next five years&#8221;.<\/p>\n\n\n\n<p class=\"\">The <strong><a href=\"https:\/\/www.sage.com\/en-za\/blog\/sustainability-an-opportunity-for-accountants-to-drive-change\/\" rel=\"noopener noreferrer\">Accountability<\/a><\/strong> section highlights three priorities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><!--[endif]-->Alignment of the corporate carbon accountability system,<\/li>\n\n\n\n<li><!--[endif]-->The establishment of strong foundations for the carbon accounting system, and<\/li>\n\n\n\n<li><!--[endif]-->The development of a Global Carbon Accounting Aggregation Mechanism to link corporate data to national emission reduction progress reports.<\/li>\n<\/ul>\n\n\n\n<p class=\"\">The <strong>Ambition<\/strong> section calls for:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><!--[endif]-->Companies to set credible emissions reduction targets<\/li>\n\n\n\n<li><!--[endif]-->Business partnerships to implement carbon pricing<\/li>\n\n\n\n<li><!--[endif]-->The acceleration of net-zero transition in business and industry<\/li>\n\n\n\n<li><!--[endif]-->Unlocking the potential of Natural Climate Solutions<\/li>\n<\/ul>\n\n\n\n<p class=\"\">The <strong>Action<\/strong> section identifies key new action areas to scale progress in key industries:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><!--[endif]-->Develop transition pathways and investment plans with National Oil Companies<\/li>\n\n\n\n<li><!--[endif]-->Develop guidance and methodologies for avoided emissions to accelerate innovation of business solutions<\/li>\n<\/ul>\n\n\n\n<p class=\"\"><a href=\"https:\/\/www.wbcsd.org\/contentwbc\/download\/15152\/214400\/1\" rel=\"noopener noreferrer\">Read the full text here<\/a>.<\/p>\n\n\n\n \n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">The Climate Impact of SMEs Report<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p class=\"\">This report provides an overview of SMEs&#8217; economic and climate impact in the UK and South Africa. Learn how SMEs view sustainability and the measures they are taking or would like to take to become more sustainable.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-17a42960-73f4-4567-a988-18a8e5c17857\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download the report<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1297426304-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1297426304-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice enewsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-84fe79b5-668d-41f8-a0cc-6229018c4ac9\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/compliance\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tCompliance\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/regulation\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tregulation\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/trending-topics\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\ttrending topics\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-74360 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-strategy-legal-operations tag-accountants tag-business-intelligence tag-profit-loss tag-staying-competitive tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1214\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-1214x810.jpeg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-684x384.jpeg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-768x512.jpeg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-1214x810.jpeg 1214w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-25T12:53:32+02:00\">June 25, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">12 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/what-is-markup-percentage\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tMarkup calculator: how to calculate markup\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tUse this markup calculator to work out a selling price, cost price, or markup percentage. You will also learn how markup works, how it differs from margin, and how to use it to set prices for your business.\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-76381 post type-post status-publish format-standard has-post-thumbnail hentry category-people-leadership category-technology-innovation tag-artificial-intelligence tag-business-management tag-hr-payroll tag-trending-topics business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/what-is-ai-in-hr\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-684x384.jpg\" class=\"card-post__image\" alt=\"A woman stands in front of the Sage glowline with a black background.\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-768x432.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-23T13:19:28+02:00\">June 23, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">11 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is AI in HR and how can you use it responsibly?\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-76286 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-trends-insights tag-accountants tag-bookkeeping tag-business-intelligence tag-data-analysis tag-financial-insights tag-making-financial-decisions tag-profit-loss tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accounts-payable-reconciliation\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--768x513.jpg 768w, 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related-post related-post-3 post-76271 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-trends-insights tag-accountants tag-bookkeeping tag-business-intelligence tag-data-analysis tag-profit-loss tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accrued-expenses-vs-accounts-payable\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/07\/GettyImages-1252669747-2-684x384.jpg\" class=\"card-post__image\" alt=\"people in office\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/07\/GettyImages-1252669747-2-684x384.jpg 684w, 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differences\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-73627 post type-post status-publish format-standard has-post-thumbnail hentry category-people-leadership tag-business-management tag-employing-people-for-the-first-time tag-hr-payroll tag-trending-topics business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/employee-onboarding-process\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-944060494-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-944060494-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-944060494-768x478.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/09\/GettyImages-944060494-1300x810.jpg 1300w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-05-14T12:28:58+02:00\">May 14, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">15 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tThe ultimate employee onboarding guide\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New climate standards, frameworks, and guidelines emerged at COP27. We&#8217;ve rounded out the top ones that finance professionals should know about.<\/p>\n","protected":false},"author":793,"featured_media":69857,"menu_order":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"footnotes":""},"categories":[29],"tags":[321,203,214],"business_type":[2,3],"lilypad":[],"context":[],"industry":[],"persona":[7,10,11,15,16],"imagine_tag":[84,74,85],"coauthors":[432],"class_list":["post-70472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trends-insights","tag-compliance","tag-regulation","tag-trending-topics","business_type-small-business","business_type-medium-business"],"sage_meta":{"region":"en-za","author_name":"Tarryn Giebelmann","featured_image":"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1124688944.jpg","imagine_tags":{"84":"Midsized business","74":"News","85":"Small business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice South Africa","distributor_original_site_url":"https:\/\/www.sage.com\/en-za\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts\/70472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/users\/793"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/comments?post=70472"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/posts\/70472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/media\/69857"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/media?parent=70472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/categories?post=70472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/tags?post=70472"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/business_type?post=70472"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/lilypad?post=70472"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/context?post=70472"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/industry?post=70472"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/persona?post=70472"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/imagine_tag?post=70472"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-za\/blog\/api\/wp\/v2\/coauthors?post=70472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}