UN issues statement on ISSB exposure drafts

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29 Jun 2022

Several United Nations (UN) organisations have responded with a joint statement to the proposed standards of the International Sustainability Standards Board (ISSB).

The statement notes that the standards being developed by the ISSB provide a unique opportunity. They can support global convergence of sustainability-related disclosure, create a common reporting baseline, and help mainstream sustainability-related issues into regular business strategy and management.

However, they also warn that a narrow interpretation of enterprise value could mean that ISSB standards could leave out important sustainability risks and opportunities and that the ISSB standards could result in selective disclosure by reporting companies. 

The statement also includes proposed additional elements to consider for improving the standards:

  • Including clear guidance on what constitutes appropriate sustainability analysis and management;
  • encouraging entities to set sustainability targets;
  • requiring geographically contextualized disclosures; and 
  • adopting an explicit long-term time horizon. 

Please click to access the full statement on the UN website.

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