Forget the SEC, International Climate Reporting Standards Could Become the Global Baseline
On Monday, the International Sustainability Standards Board released its initial two reporting standards. The first is a general standard requiring a company to disclose material information about sustainability-related risks and opportunities including their governance, strategy, risk management and performance along with industry-specific information. The second standard establishes the specific requirements for climate-related physical risks, transition risks and opportunities.
The ISSB consulted widely before it built its guidance on a number of established voluntary standards including from the Task Force on Climate-Related Financial Disclosures and the Sustainability Accounting Standards Board. It was created to respond to widespread stakeholder demands for more consistent and reliable information about companies’ sustainability plans and performance amid mounting decarbonization promises, regulation and climate change impacts.
ESG, SDG, CER, GRI, FSC, LCA, WELL