Deloitte strongly welcomes the announcement by the IFRS (International Financial Reporting Standards) Foundation (IFRSF) of its new International Sustainability Standards Board (ISSB). Deloitte also welcomes the commitment by the Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation (VRF, which houses the Integrated Reporting Framework and the Sustainability Accounting Standards Board (SASB) Standards) to merge with the new board and the publication of prototype climate and general disclosure requirements by the IFRSF’s Technical Readiness Working Group (TRWG).
This is a significant step in response to the urgent need of investors and other stakeholders to understand how climate and Sustainability risks and opportunities faced by business affect enterprise value and financial performance.
Global Sustainability standards will facilitate consistent and comparable Reporting by companies across jurisdictions, which will help direct capital to long-term, resilient business as the world transitions to a low-carbon economy.
The global ISSB standards are an essential part of a system change that will be required to create a global baseline of Sustainability…
