The FSB will report to the G20 on both issues in July. In the meantime, the International Financial Reporting Standards Foundation is moving ahead with a proposal to set up an international sustainability standards board to deliver the first consistent, single set of global norms for climate-related company disclosures.
The Foundation’s proposals have received widespread support from, among others, the International Organization of Securities Commissions. At the same time, it is essential that the IFRS work does not fall short of current investors’ need and international best practices.