IFRS Foundation and ISO commit to future cooperation towards effective communication about sustainability-related risks and opportunities
04 Dec, 2023
The IFRS Foundation and the International Organization for Standardization (ISO) have confirmed their shared commitment to cooperate to support efficient and resilient global economies at COP28, currently held in Dubai, United Arab Emirates. Both organisations recognise that working together in areas of common interest is in the public interest.
The press release states that the ISO 14000 environmental management and greenhouse gas emission standards can assist entities to implement their sustainability and climate commitments. They can also support entities to develop disclosures that are in line with IFRS S2 ‘Climate-related Disclosures’.
The press release also notes that the ISO supports the work of the International Sustainability Standards Board (ISSB) to establish a truly global baseline of sustainability-related financial disclosures. This is because ISO Standards support consistent approaches internationally in the internal management of sustainability-related matters.
In addition, the ISO and the IFRS Foundation are committed to advancing capacity building initiatives that focus on supporting organisations to build internal expertise and understanding that advance practices and reporting.
For more information please click the press release on the IFRS Foundation website.
