2021 has in many ways been the “year of ESG” – of environmental, social and governance issues – and has seen several crucially important developments, particularly in terms of sustainability reporting standards and requirements.
It might be December but there is still plenty happening! Read on for more on the new ISSB Chair, ESMA taxonomy, new SEC rules and digital strategy at EIOPA.
The formation of the International Sustainability Standards Board (ISSB) was the focus last week of two speeches at COP26 from leading figures in the International Organization of Securities Commissions (IOSCO), a longstanding and crucial supporter of the International Financial Reporting Standards (IFRS) Foundation’s endeavours in this sphere.
The International Financial Reporting Standards (IFRS) Foundation’s announcement last week of the formation of the International Sustainability Standards Board (ISSB) is still at the forefront of many minds around the world.
At the same time as it announced the creation of the International Sustainability Standards Board (ISSB) at COP26, the International Financial Reporting Standards (IFRS) Foundation also published prototype climate and general sustainability disclosure requirements.
We were interested to note that Japan’s Financial Accounting Standards Foundation (FASF) has revised its organisational charter to include sustainability reporting standards in its purpose and business, in addition to accounting standards.
This week in Glasgow, at COP26, the IFRS Foundation announced the formation of the International Sustainability Standards Board (ISSB) to develop comprehensive baseline global standards for sustainability reporting.
“Sustainable finance is crucial for promoting orderly and just transitions towards green and more sustainable economies and inclusive societies,” say the G20 leaders.
For those interested in the development of the proposed International Sustainability Standards Board (ISSB), a webcast from the International Financial Reporting Standards (IFRS) Foundation is important viewing.
The International Federation of Accountants (IFAC) has published a framework for implementing global sustainability standards at the local level.
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