On 31st January 2022, the Climate Disclosure Standards Board (CDSB) was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB). While this site and its resources remain relevant for preparers looking to improve sustainability disclosure until such time as the ISSB issues its IFRS Sustainability Disclosure Standards on such topics, no further work or guidance will be produced or published by CDSB. For further information please visit the IFRS website.

CDSB responds to UNEP inquiry

CDSB submitted response to UNEP’s inquiry on aligning the financial system with sustainable development.

The Inquiry into the Design of a Sustainable Financial System was initiated in early 2014 to develop policy options for better aligning the financial system to the long-term needs of a healthy economy, which requires it to deliver inclusive prosperity within environmental boundaries. With its focus on the rules governing the financial system – financial and monetary policies, financial regulations and standards, and financial market-facing fiscal measures and policy-guided investment institutions - the Inquiry’s work complements and builds on UNEP’s on-going finance work.

In response, CDSB proposes three strategies for maximising the effectiveness of information in forging alignment between the financial system and sustainable development. First, the identification of an institutional home for the consolidation, enhancement and further development of corporate reporting practice. Secondly, the development of technical reporting infrastructure, including resolution of technical issues that currently cause confusion for reporting organisations and impede the usefulness of reported information for decision-makers. Finally, CDSB proposes the development of assessment standards that enable reporting organisations and users of information to determine whether reported information achieves sustainable development objectives.

The three strategies support CDSBs efforts calling on companies and investors to produce and use climate change related information as a matter of fiduciary duty. To find out more and sign the statement, go to cdsb.net/fiduciary

The full consultation response with a detailed description of the three strategies can be found here