Endorsement by IOSCO can pave the way for adoption of the Standards around the world, delivering much-needed consistency and comparability in sustainability-related information to the capital markets. We will review the proposals, with the objective to endorse them for use by our member jurisdictions. Now is the time to get involved and comment on the proposals.Īshley Alder, Chairman of the IOSCO Board, said: IOSCO welcomes the publication of the ISSB’s two proposed IFRS Sustainability Disclosure Standards. These proposals define what information to disclose, and where and how to disclose it. However, all agree on the importance of high-quality, globally comparable sustainability information for the capital markets. Also today, the ISSB has set out its plan for how its work will build on the SASB Standards and industry-based standard-setting processes.Įmmanuel Faber, Chair of the ISSB, said: Rarely do governments, policymakers and the private sector align behind a common cause. This consultation will include seeking feedback on the sustainability-related information needs of investors when assessing enterprise value and on further development of industry-based requirements, building on SASB Standards, which address a broad range of sustainability matters. Later this year, the ISSB will consult on its standard-setting priorities. The proposals set out requirements for the disclosure of material information about a company’s significant sustainability-related risks and opportunities that is necessary for investors to assess a company’s enterprise value. The proposals have been developed in response to requests from G20 leaders, the International Organization of Securities Commissions (IOSCO) and others for enhanced information from companies on sustainability-related risks and opportunities. It will review feedback on the proposals in the second half of 2022 and aims to issue the new Standards by the end of the year, subject to the feedback. The ISSB is seeking feedback on the proposals over a 120-day consultation period closing on 29 July 2022. The ISSB is working closely with other international organisations and jurisdictions to support the inclusion of the global baseline into jurisdictional requirements. When the ISSB issues the final requirements, they will form a comprehensive global baseline of sustainability disclosures designed to meet the information needs of investors in assessing enterprise value. The proposals―exposure drafts-build upon the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and incorporate industry-based disclosure requirements derived from SASB Standards.
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