FCLTGlobal supports the creation of a new International Sustainability Standards Board (ISSB), and congratulates the IFRS Foundation, Climate Disclosure Standards Board, and Value Reporting Foundation on their new partnership to develop a comprehensive global baseline of high-quality sustainability disclosure standards.
FCLTGlobal’s mission is to focus capital on the long term to support a sustainable and prosperous economy. A key lever to achieve that mission is alignment on quantitative, assurable, and comparable metrics around what really drives sustainable businesses. Yet research indicates that there is still a disconnect between what investors need and what companies are disclosing. While there are many interested parties, to be on a similar footing with traditional financial disclosures, sustainability disclosure must be material to both a company and to investment decision-makers.
Over the past year, FCLTGlobal and the World Economic Forum (WEF) convened leading data and analytics providers to share insights on how they may ensure the consistent flow of information to support the global economy’s sustainable transition to a more sustainable path. In May 2021, the group endorsed the establishment of a Sustainability Standards Board.
Both the corporate and investment community will benefit from the consolidation of sustainability disclosures, and we are thrilled that the IFRS Foundation will lead that consolidation moving forward. FCLTGlobal looks forward to the advancement of this important work with ISSB at the helm, with a specific eye toward ensuring corporate disclosures include metrics that are materially linked to a business’s sustainable long-term value creation.
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