IFRS Foundation Trustees discuss global sustainability standards and next steps

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02 Feb, 2021

At its meeting on 1 February 2021, the IFRS Foundation Trustees discussed feedback received on the first three questions in its consultation paper to assess demand for global sustainability standards and what role the Foundation might play in the development of such standards.

The feedback received indicated that there is a need for a global set of internationally recognised sustainability reporting standards and for the IFRS Foundation to play a role in the development of these standards. The Trustees decided to conduct additional analysis on the feedback received on the requirements for success and will create a Trustee Steering Committee to oversee the project.

The Trustees are aiming to issue a proposal and establish a timeline by the end of September 2021 and may announce the establishment of a sustainability standards board at the United Nations Climate Change Conference COP26 in November 2021. 

For more information, see the press release on the IASB’s website.

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