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IFRS Foundation announces sustainability working group

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

Mar 22, 2021

On March 22, 2021, the Trustees of the IFRS Foundation announced that they have set up a sustainability working group in order to accelerate convergence in global sustainability reporting standards and to undertake technical preparation for a potential international sustainability reporting standards board under the governance of the IFRS Foundation.

The working group is intended to provide structured engagement with initiatives focused on enterprise value reporting with a view to facilitating consolidation and reducing fragmentation in sustainability reporting standards. The working group will be chaired by the IFRS Foundation and include participation by the IASB, given the need for connectivity with financial reporting. IOSCO will participate in the group as an observer.

Members of the working group are

  • The Financial Stability Board’s Task Force on Climate related Financial Disclosures (TCFD);
  • the Value Reporting Foundation representing the intended merger of the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB);
  • the Climate Disclosure Standards Board (CDSB); and
  • the World Economic Forum (WEF).

Throughout the process, the working group will also engage closely with the Global Reporting Initiative (GRI) and CDP.

The first meeting of the working group is expected to take place in April 2021.

Review the press release on the IASB's website.

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