IOSCO endorses IFRS Sustainability Disclosure Standards
IOSCO endorses IFRS Sustainability Disclosure Standards
The International Organization of Securities Commissions (IOSCO) has announced its endorsement of ISSB’s Sustainability Disclosure Standards – IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.
IOSCO has noted that after a detailed analysis, it has determined that the ISSB Standards are appropriate to serve as a global framework for capital markets to develop the use of sustainability-related financial information in both capital raising and trading and for the purpose of helping globally integrated financial markets accurately assess relevant sustainability risks and opportunities.
IOSCO has called on its 130 member jurisdictions, regulating more than 95% of the world's financial markets, to consider ways in which they might adopt, apply or otherwise be informed by the ISSB Standards within the context of their jurisdictional arrangements, in a way that promotes consistent and comparable climate-related and other sustainability-related disclosures for investors.
Erkki Liikanen, the Chair of IFRS Foundation Trustees, in his statement, has observed that IOSCO’s endorsement sends a powerful signal to jurisdictions worldwide, providing them with the confidence they need to implement the ISSB Standards in their regulatory frameworks.
The endorsement announcement from IOSCO may be accessed here.
The statement from Erkki Liikanen on the IOSCO’s endorsement of the ISSB Standards may be accessed here.
IOSCO has noted that after a detailed analysis, it has determined that the ISSB Standards are appropriate to serve as a global framework for capital markets to develop the use of sustainability-related financial information in both capital raising and trading and for the purpose of helping globally integrated financial markets accurately assess relevant sustainability risks and opportunities.
IOSCO has called on its 130 member jurisdictions, regulating more than 95% of the world's financial markets, to consider ways in which they might adopt, apply or otherwise be informed by the ISSB Standards within the context of their jurisdictional arrangements, in a way that promotes consistent and comparable climate-related and other sustainability-related disclosures for investors.
Erkki Liikanen, the Chair of IFRS Foundation Trustees, in his statement, has observed that IOSCO’s endorsement sends a powerful signal to jurisdictions worldwide, providing them with the confidence they need to implement the ISSB Standards in their regulatory frameworks.
The endorsement announcement from IOSCO may be accessed here.
The statement from Erkki Liikanen on the IOSCO’s endorsement of the ISSB Standards may be accessed here.