On the topic of connectivity, the standard setters highlight that close alignment and connectivity between financial and sustainability reporting is paramount to ensure that the information produced for investors is compatible and comparable. They also note that communicating the ISSB’s long-term objectives and clarifying how these relate to the IASB’s roadmap was a critical next step.

The standard setters submitted individual responses to the ISSB agenda consultation, but felt that it was necessary to combine their statements in an additional joint letter given their shared concerns:

• Feedback from UK stakeholders, as well as the UKEB’s own research, indicate that close alignment and connectivity between financial and sustainability reporting should be a priority for both Boards and they do not consider that this is yet complete.
• The AcSB strongly encourages the ISSB to continue working together with the IASB to prioritise issues related to connectivity in reporting.
• The MASB is of the view that connectivity is paramount to ensure high quality and compatible information in financial statements and in sustainability disclosures.
• The AASB recommends that the ISSB focus on the development of additional guidance on connectivity to better support comparability.
• The XRB highlights that simply relying on generic aspirations for ‘connectivity’ or ‘interoperability’ may undermine the credibility of the work of the ISSB.

Please click to access the full letter, which also notes that the highest priority of the ISSB should be the successful implementation of the inaugural standards.