FSB calls ISSB standards culmination of TCFD work

  • FSB (Financial Stability Board) (lt green) Image
  • G20 (lt green) Image

06 Sep 2023

Ahead of their meeting on 9-10 September 2023, a letter of the Chair of the Financial Stability Board (FSB) was submitted to G20 Leaders outlining the work the FSB is undertaking on enhancing the resilience of the financial system to structural change.

The letter also notes the risks that climate change could pose to financial stability. In that context, the letter notes:

An important milestone in the FSB’s Climate Roadmap has been the publication of the International Sustainability Standards Board (ISSB)’s disclosure standards, which have been endorsed by the International Organization of Securities Commissions (IOSCO). The ISSB standards serve as a global framework for sustainability disclosures and, when implemented, will strengthen the comparability, consistency, and decision-usefulness of climate-related financial disclosures around the world. These standards can be seen as a culmination of the work of the FSB’s Task Force on Climate-related Financial Disclosures (TCFD).

The FSB states that it will work with the ISSB and other relevant bodies to promote the timely and wide use of the standards.

Please click to access the full letter on the FSB website.

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