The proposed standard for sustainability-related financial disclosures builds on TCFD pillars and supports the IFRS consultation on non-financial reporting.
Five international sustainability reporting bodies, known as ‘the group of five’, have published a prototype global standard for sustainability-related financial disclosures.
Focused on climate-related disclosure, it is the first attempt by the five organisations to combine their existing standards frameworks to establish a universal system for reporting the impact of sustainability factors on enterprise value.
It follows a statement of intent penned by the five organisations – CDP, Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI), International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB) – to work together toward a globally accepted comprehensive corporate reporting system.
The group of five reiterated support for the consultation proposed by the trustees of the International Financial Reporting Standards (IFRS) Foundation, which suggested the implementation of a global-focused Sustainability Standards Board (SASB).
The prototype … [continues]
Read the full article on Regulation Asia’s sister publication, ESG Investor.
