IFRS Foundation Trustee discusses sustainability reporting

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May 13, 2020

On May 13, 2020, the International Accounting Standards Board (IASB) released a speech given by Teresa Ko, IFRS Foundation Trustee, in a virtual presentation at the Green and Sustainable Finance Cross-Agency Steering Group meeting. In her speech, she discussed the possible roles the IFRS Foundation may have for the development of internationally recognized standards on sustainability reporting.

Specifically, Ms. Ko discussed:

  • Background on how the IFRS Foundation started and its role in the development of the IFRS Standards.
  • Current state of sustainability report where there are over 650 different metric available and the desire by many to consolidate the metrics into a global comparable framework.
  • Actions taken by (1) the IASB which include the update to its Practice Statement Management Commentary and (2) the Trustees which include the establishment of a working group to determine the role of the IFRS Foundation in sustainability reporting.

Review the full presentation on the IASB’s website.

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