IOSCO sees an urgent need for globally consistent, comparable, and reliable sustainability disclosure standards and announces its priorities and vision for a Sustainability Standards Board under the IFRS Foundation.
CDSB welcomes the recent announcement from IOSCO emphasising the “urgent need for globally consistent, comparable, and reliable sustainability disclosure standards.” CDSB has recognised the pressing demand for a globally consistent set of standards since our formation back in 2007 and we are delighted that IOSCO has set out a pathway which will take us one step closer to the creation of a Sustainability Standards Board under the IASB. That this endeavour will build on the existing efforts of the standard setters is essential and allows for a clear continuation of the significant work already done in this space.
Mardi Mcbrien, Managing Director at CDSB, commented:
“The pressing need for global standardisation is no surprise, what we need is a clear plan of action to achieve it, and I am delighted to see IOSCO provide a pathway. While there will always be room for geographical nuances, a consistent and comparable global set of standards will provide investors with clear guidance on how they can allocate capital for a sustainable future, and businesses the tools they need to properly assess climate-related risk.”