The ISSB just Launched a Unified Sustainability Reporting Standard
The International Sustainability Standards Board (ISSB) has just unveiled its inaugural sustainability reporting standards, IFRS S1 and IFRS S2.
The International Sustainability Standards Board (ISSB) has just unveiled its inaugural sustainability reporting standards, IFRS S1 and IFRS S2. These standards are set to revolutionize how companies disclose their sustainability impact, boosting investor confidence and supporting informed decision-making.
Aligned with influential frameworks like the TCFD, these standards create a common language for companies to communicate climate-related risks and opportunities. With endorsements from major organizations such as the G20 and IOSCO, they are poised to become the "global baseline" for sustainability reporting.
However, this standard has raised critisicism because of it only takes into account single materiality and omits important factors such as biodiversity. Even though these standards have the potential to become a reference globally, they still seem less detailed and strict than the EU Green Deal. It will be fascinating to see how these two work together and evolve as time goes on
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