IFAC encourages a building blocks approach for reporting sustainability-related information

  • IFRS - IFAC Image
  • Leaf - sustainability (green) Image

May 06, 2021

On May 6, 2021, the International Federation of Accountants (IFAC) published a revised building blocks approach to reporting sustainability information — enhancing its previously issued roadmap "Enhancing Corporate Reporting: The Way Forward" released in September 2020 and calling for the creation of a new sustainability standards board that would exist alongside the IASB under the IFRS Foundation.

As in the predecessor publication, IFAC continues to support a new standard-setting board under the IFRS Foundation that can lead to the coordination and harmonization of reporting and provide a baseline of requirements addressing sustainability information that is material to enterprise value. With the new publication, IFAC hopes to foster discussion on how the building blocks approach can deliver a global system for consistent, comparable, and assurable sustainability-related information that best meets the needs of investors and other stakeholders.

Review the press release and Enhancing Corporate Reporting: Sustainability Building Blocks on the IFAC's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.