Companies, investors and professional accountants call for global alignment in sustainability reporting
31 Aug 2022
The International Federation of Accountants (IFAC) has published on its website a joint statement by 65 organisations calling for stronger alignment of regulatory and standard-setting efforts around sustainability disclosure.
The statement notes that significant efforts by the International Sustainability Standards Board (ISSB), the US Securities and Exchange Commission (SEC), and the European Commission together with the European Financial Reporting Advisory Group (EFRAG) are underway, which all aim to address the need to enhance and evolve corporate reporting to include and consider sustainability information. However, current draft standards and initiatives are not technically compatible in terms of concepts, terminologies, and metrics. Therefore, leading financial market participants are asking financial market regulators to avoid regulatory and standard setting fragmentation by aligning on key concepts, terminologies, and metrics on which disclosure requirements are built.
Please click to access the full statement on the IFAC website.
