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IOSCO responds to the IFRS Foundation's sustainability consultation

  • Securities - IOSCO Image

Dec 23, 2020

On December 23, 2020, the International Or­ga­ni­za­tion of Se­cu­ri­ties Com­mis­sions (IOSCO) has submitted its response to the IFRS Foun­da­tion's con­sul­ta­tion on sus­tain­abil­ity reporting.

IOSCO sees an urgent need to improve the com­plete­ness, con­sis­tency and com­pa­ra­bil­ity of sus­tain­abil­ity reporting and notes that:

Together, the IFRS Foun­da­tion’s con­sul­ta­tion and a parallel col­lab­o­ra­tive ini­tia­tive of an alliance of sus­tain­abil­ity reporting or­ga­ni­za­tions can further efforts to fa­cil­i­tate com­pa­ra­ble high-qual­ity international standards that provide the content that capital markets need, within a trans­par­ent stan­dard-set­ting ar­chi­tec­ture with a robust and inclusive gov­er­nance structure.

IOSCO also believes that robust sus­tain­abil­ity reporting standards, in­ter­con­nected with financial reporting standards, would also support audit and assurance – enhancing the market’s trust in sus­tain­abil­ity dis­clo­sures, and laying the foun­da­tions for mandatory corporate reporting on sus­tain­abil­ity in­ter­na­tion­ally.

Please click to access the full comment letter on the IOSCO website.

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