[SSA] Quizzer on MT Topics

It describes the processes for improving long-term economic well-being and quality of life without compromising future generations' ability to meet their needs.

a. Sustainability reporting

b. Sustainability

c. Sustainable development

d. Sustainability performance

c. Sustainable development

Climate-related risks include those resulting from increased severity of extreme weather.

a. none of the above

b. physical risks only

c. transition risks only

d. physical risks and transition risks

b. physical risks only

The primary focus of  IFRS S2  for sustainability reporting

a. Disclosure of general sustainability risks and opportunities

b. Establishing financial accounting principles

c. Enforcing industry-specific tax compliance policies

d. Mandating climate-related disclosures, integrating TCFD recommendations

d. Mandating climate-related disclosures, integrating TCFD recommendations

Sustainability reporting has both internal and external benefits, which of the following is an example of external benefits

a. Effective management of sustainability risks and opportunities.

b. Motivated workforce.

c. Sustainable vision, strategy, and business plans.

d. Stakeholder engagement.

d. Stakeholder engagement.

Statement 1: Companies are not required to provide disclosures about scope 3 GHG emissions;
Statement 2: Companies apply the GHG Protocol Corporate Standard to measure emissions if they are already using a different measurement approach;

a. Statements 1 and 2 are both incorrect

b. Statement 1 only is correct

c. Statement 2 only is correct

d. Statements 1 and 2 are correct

a. Statements 1 and 2 are both incorrect

The guidelines crafted for PLCs operating in the Philippines focuses on the following factors EXCEPT

a. Environmental disclosure

b. Economic disclosure

c. Social disclosure

d. Governance disclosure

 d. Governance disclosure

ISSB requirements to be applied in a manner appropriate for a company’s circumstances—that is, the requirements are ___________________  to the range of capabilities and varied sustainability reporting experience of companies around the world.

a. Completion

b. Pre-determined

c. Proportionate

d. Consistent

c. Proportionate

These are an essential aspect of the sustainability reporting processes. In essence, this assessment means the identification of the most significant sustainability issues for reporting purposes ideally from the perspective of both the organization and its stakeholders.

a. Materiality assessment

b Significant assessment

c. Overall assessment

d. Balance assessment.

a. Materiality assessment

Sustainability information includes both

a. Quantitative and non-quantitative information.

b. Financial and non-financial information.

c. Qualitative and non-qualitative information.

d. Qualitative and quantitative information.

b. Financial and non-financial information.

The qualitative  characteristics of ISSB that can be used to assess a company’s exposure to and management of sustainability-related risks and opportunities over the short, medium and long term. 
a. concise, confirmatory , comparable information

b. consistent, complete, compliant information

c. consistent, complete, comparable information

d. concise, complete, comparable information

c. consistent, complete, comparable information

This is the principle of identifying and assessing a wide range of sustainability matters and refining them to what are most important to your organization and your stakeholders.

a. Domain

b. Risk

c. Materiality

d. Theory

c. Materiality

The three dimensions That is relative importance on sustainability performance with respect to each other and their contribution to overall firm value creation is affected by whether these sustainability performance dimensions are viewed as competing with, conflicting with or complementing each other and what sustainability theory or theories are applied to define tensions among ESG sustainability performance dimensions.

a. economic, social, and governance

b. cultural, economic, and governmental

c. social, cultural, and governance

d. ethnic, cultural, and environmental

e. cultural, economic, and governmental

a. economic, social, and governance

The IFRS S1 sets out the core information for the company's requirements to disclose and describe are adapted from what framework? 

a. Sustainability Accounting Standards Board

b. TCFD

c. Integrated Reporting Framework

d. IASB Framework.

b. TCFD

These dimension of sustainability performance reflects the transformational  goals into practices in the workplace, community and supply chain that benefit an organization's stakeholders and is measured through the principles, actions, and corrective initiatives implemented.

a. environmental

b. economical

c. cultural

d. social

d. social

A company that applies ISSB Standards is required to publish its sustainability-related financial disclosures:

a. as not related financial statements

b. not part of its general purpose financial reports

c. as  separate from its general purpose financial reports

d. as part of its general purpose financial reports

d. as part of its general purpose financial reports

This shall refer to the effect an organization has on the economy, the environment, and/or society, which in turn can indicate its contribution (positive or negative) to sustainable development.

a. Threshold

b. Significance

c. Impact

d. Materiality

c. Impact

These constitutes the basis for regulating the flow of materials and energy which underlie existence.

a. Domain of Life

b. Spiritual Domain

c. Social Domain

d. Material Domain

d. Material Domain

provides a method whereby the organization can demonstrate the credibility of its sustainability disclosures, whether done internally or externally,

a. Assessment

b. Risk

c. Evaluation

d. Assurance

 d. Assurance

The views a firm as an institutional form of diverse individuals and groups with unified interests, transactions governance, values, rules and practices that can become institutionalized.

a. Shareholder/agency Theory

b. Legitimacy Theory

c. Stakeholder Theory

d. Institutional Theory

d. Institutional Theory

This derived from sociology and psychology and views management as custodians of the long-term interests of a variety of stakeholders rather than as exhibiting self-serving and short-term opportunistic behaviour, as under agency theory.

a. Stewardship Theory

b. Signaling/Disclosure Theory

c. Institutional Theory

d. Legitimacy Theory

a. Stewardship Theory

The sustainable development goals that is known as the are set of objectives within a universal agreement to end poverty protect all that makes the planet habitable and ensure that all people enjoy peace and prosperity now and in the future

a. global goals

b. universal goals

c. overall goals

d. sustainable goals

a. global goals

What sustainability-related risks and opportunities do the ISSB Standards focus on the so-called financial effects as referred to as a company’s prospects? 

a. Company’s cash flows, and the cost of capital

b. Company’s cost of capital

c. Company’s cash flows, and the cost of production

d. Company’s cost of production 

a. Company’s cash flows, and the cost of capital

It is development that meets the needs of the present without compromising the ability of future generations to meet their own needs

a. Sustainability performance

b. Sustainability development

c. Sustainability

d. Sustainability reporting

b. Sustainability development

Which of the following is not true?

a. In setting the scope of the assignment, the organization should have a clear understanding of its purpose and the level of assurance to be achieved.

b. To be effective, the assurance process should be conducted against a recognized standard

c. The organization should identify the competence required of the assurance team. This should not include both accounting and engineering or other technical knowledge depending on the scope of the assurance assignment.

d. All of the above statements are not true.

c. The organization should identify the competence required of the assurance team. This should not include both accounting and engineering or other technical knowledge depending on the scope of the assurance assignment.

The ISSB Framework IFRS S2 industry-based metrics and disclosure topics have been derived from what standards or framework?

a. SASB Standards

b. TCFD Standards

c. CDSB Standards

d. IR Standards

a. SASB Standards

It is related to the physical effects of climate change.

a. Financial risks

b. Conversion risks

c. Transition risks

d. Physical risks

d. Physical risks

This activity involves publicly disclosing a company’s environmental, social, and governance performance, that is a practice that provides stakeholders with comprehensive information regarding an organization’s sustainability endeavors.

a. Sustainability development

b. Sustainability performance

c. Sustainability reporting

d. Sustainability

c. Sustainability reporting

The performance relates to the natural resources consumed in delivering products and services.

a. Social

b. Mental

c. Economic

d. Environmental

d. Environmental

What is a Triple Bottom Line (TBL) Reporting?

a. The concept behind the triple bottom line is that companies should focus as much on social and environmental issues as they do on profits.

b. The triple bottom line aims to measure the financial, social, and environmental performance of a company over time.

c. The TBL consists of three elements: profit, people, and the planet.

d. All of the above statements are all about TBL.

d. All of the above statements are all about TBL.

Which of the following is true?

a. Sustainability reporting on economic point of view is tangible while financial reporting is intangible.

b. Sustainability reporting are being used by stakeholders while financial reporting are being used by stockholders and investors.

c. Sustainability reporting and financial reporting are the always the same.

d. Sustainability reporting focus on non-financial aspect while financial reporting focus on financial aspect.

d. Sustainability reporting focus on non-financial aspect while financial reporting focus on financial aspect.

are the risks and opportunities arising from the ESG impacts (ie.. impacts that relate to sustainability themes such as energy, diversity, human rights, etc.) of an organization's operations and activities.

a. Sustainability performance

b. Sustainability matters

c. Sustainability reports

d. Sustainability risks

b. Sustainability matters

whether the organization want to cover the entire value chain or specific operations (e.g., upstream or downstream) which may include operations within or outside the organization.

a. Operations within or outside the organization (including the entire value chain)

b. Physical locations of the organization (geographical boundary)

c. Entities within the organization (organizational Boundaries)

d. Types of organization

a. Operations within or outside the organization (including the entire value chain)

Sustainability reporting has both internal and external benefits, which of the following is an example of external benefits   

a. Sustainable vision, strategy, and business plans.

b. Stakeholder engagement.

c. Effective management of sustainability risks and opportunities.

d. Motivated workforce.

b. Stakeholder engagement.

IFRS S1 builds on concepts from what framework that is relating to a company’s ability to generate returns for investors, lenders and other creditors; and to communicate how it creates value given its dependencies on and interactions with other stakeholders, resources and relationships

a. Integrated Reporting Framework

b. Sustainability Accounting Standards Board

c. Global Reporting Initiatives

d. Climate Disclosure Standards Board

a. Integrated Reporting Framework

Statement 1 :A company’s measurement of scope 3 greenhouse gas emissions is likely to include the use of estimation rather than solely comprising direct measurement

Statement 2: IFRS S2 provides a scope 3 measurement framework

a. Statements 1 and 2 are correct

b. Statement 2 only is correct

c. Statements 1 and 2 are both incorrect

d. Statement 1 only is correct

a. Statements 1 and 2 are correct

Which framework does IFRS S1 build on concepts from the relating to a company’s ability to generate returns for investors, lenders and other creditors and to communicate how it creates value given its dependencies on and interactions with other stakeholders, resources and relationships

a. Integrated Reporting Framework

b. Climate Disclosure Standards Board

c. Sustainability Accounting Standards Board 

d. International Standards Sustainability Board

a. Integrated Reporting Framework

The effectivity date for IFRS S1 and IFRS S2 standards 

a. March 15, 2022

b. January 1, 2023

c. June 23, , 2023

d. January 1, 2024

d. January 1, 2024

SASB's sustainability topics are segmented into five broad dimensions, what are tha dimensions?

a. Environment, Social Capital, Human Capital, Business Model and Innovation Leadership and Governance

b. Environmental, Physical, Social, Mental and Spiritual Model

c. Economic, Planet, Climate, People and Governance

d. Clean air, Economy, Human Capital, Financial Model and Business Model

a. Environment, Social Capital, Human Capital, Business Model and Innovation Leadership and Governance

It is an intergovernmental organization aiming to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a center for harmonizing the actions of nations. It is the world's largest and most familiar international organization.

a. World United Organization

b. International Peace and Security Association

c. International Security Commission

d. United Nation

d. United Nation

performance reflects an organization's impact on people and social issues, which include (a) health, skills, and motivation on the people side, and (b) human relationships and partnerships on the social side.

a. Social

b. Economic

c. Environmental

d. Mental

a. Social

The Sustainability Reporting Framework or Standards that was created for the information about the risks and opportunities arising from a company’s interactions with its stakeholders, society, the economy and the natural environment as integral to economic and investment decisions.

a. SASB

b. TCFD

c. ISSB 

d. GRI

c. ISSB 

Under  IFRS S2  for sustainability reporting disclosure for scope 3

a. Greenhouse gas emissions disclosures that is owned by the organization

b. Greenhouse gas emissions disclosures that is indirect and owned by the organization

c. Greenhouse gas emissions disclosures that is direct and owned by the organization

d. Greenhouse gas emissions disclosures that is indirect and not owned by the organization

d. Greenhouse gas emissions disclosures that is indirect and not owned by the organization

The Sustainable Development Goals (SDGs), otherwise known as the are a set of objectives within a universal agreement to end poverty, protect all that makes the planet habitable, and ensure that all people enjoy peace and prosperity, now and in the future.

a. Universal Goals

b. Global Goals

c. Sustainable Goals

d. Overall Goals

b. Global Goals

Sustainability Reporting Guidelines for Philippines Publicly Listed Companies are ;

a. Policies

b. Goals and targets

c. Grievance mechanisms

d. Specific actions

a. Policies

The most important and commonly accepted dimension of sustainability is

a. Effective performance.

b. Positive/Optimistic performance

c. Financial performance

d. Economic performance

d. Economic performance

Which of the following is not an external benefit of sustainability reporting?

a. Improved company reputation and brand value

b. Investor attractiveness

c. Competitive advantage

d. Improved management systems

d. Improved management systems

Managing ESG risks can help in

a. Reducing exposures to sustainability-related risks.

b. Staying ahead of emerging sustainability risks and disclosure regulations.

c. Reducing the cost of capital through a lower risk profile

d. All of the above.

d. All of the above.

The risks  associated with policy action and changes in technology that can affect how a company can run its business

a. physical risks and transition risks

b. none of the above

c. transition risks only

d. physical risks only

c. transition risks only

Which of the following is true about sustainability reporting?

a. The only benefit of sustainability reporting is to have improved corporate reputation.

b. Sustainability reporting is the non-disclosure but a straight communication of environmental, social, and governance (ESG) goals as well as a company's progress towards them.

c. Sustainability reporting plays a role in accountability relationships as it is a means by which organizations communicate with a range of stakeholders and such information in the report should be relevant to the stakeholders as well.

d. A sustainability performance is the main tool available to an organisation or company to voluntarily communicate its performance and impact - positive or negative - in environmental, social and governance (ESG) matters.

c. Sustainability reporting plays a role in accountability relationships as it is a means by which organizations communicate with a range of stakeholders and such information in the report should be relevant to the stakeholders as well.

This Management Approach Component intents of the organization to manage the impacts related to the topic (eg, for regulatory compliance, compliance with international standards).

a. Policies

b. Goals and targets

c. Commitment

d. Responsibilities or duties

c. Commitment