As jurisdictions introduce sustainability-related disclosure requirements, there is a need to address “potential fragmentation”, says the ISSB in an Oct 30 press release.
Some 40 jurisdictions around the world plan to use the International Sustainability Standards Board’s (ISSB) Standards in their sustainability-related disclosure requirements, and the global standards-setting body is expanding a workgroup to harmonise how capital markets and preparers adopt the standards.
ISSB chair Emmanuel Faber announced the “significant expansion” of the Jurisdictional Working Group at the IFRS Sustainability Symposium on Oct 30 in London. This initiative will facilitate multilateral discussions among regulators on how the Standards — S1 and S2 — can serve as a “global passport”, benefitting capital markets worldwide and addressing emerging cross-border issues, according to the ISSB.
