IFRS Foundation Trustees hold discussion on sustainability standards

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22 Dec, 2022

The IFRS Foundation Trustees have issued insights from a panel discussion held during its quarterly meeting in Seoul, South Korea. The discussion focused on IFRS Sustainability Disclosure Standards and why they are needed.

The panelists were posed two questions: (1) “how each panelist’s jurisdiction reacted to the establishment of the ISSB and the adoption of the Standards” and (2) “most significant challenges in adopting the Standards in their respective jurisdictions and suggestions on how to overcome these challenges.” Overall, the panelists welcomed the ISSB; however, there were some who were concerned with adoption of the ISSB Standards in developing and emerging countries. The panelists came to an agreement that a way to address the concern is to provide sufficient transition arrangements for implementing the Standards.

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

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