Multilateral development banks confirm support for work of the ISSB at COP28
30 Nov, 2023
At COP 28, currently held in Dubai, United Arab Emirates, the Asian Infrastructure Investment Bank, the European Investment Bank, the Inter-American Development Bank and the European Bank for Reconstruction and Development have confirmed their support for the work of the International Sustainability Standards Board (ISSB).
The press release quotes the following statement by the banks, who are recognised for their vital role in fostering global economic development:
We welcome global initiatives to introduce sustainability reporting standards that complement existing financial reporting standards, and we support transparency and comparability of sustainability-focused disclosure, including the work of ISSB and the use of ISSB Standards by certain jurisdictions.
The IFRS Foundation expressed their gratitude for the continued collaboration with the multilateral development bank community towards shaping the introduction of global sustainability disclosure standards. The support of the community was instrumental in the prior introduction of IFRS Accounting Standards in regions such as Africa, South America, Eastern Europe and South East Asia.
For more information, see the press release on the IFRS Foundation website.
