Time to deliver: ITF calls for support for the ISSB
The industry-led Impact Taskforce (ITF) – established by the G7 Presidency to examine how private capital can be mobilised at scale in support of key global sustainable development targets – has published its report, with recommendations for urgent action. Among its conclusions, it welcomes the creation of the International Sustainability Standards Board (ISSB) and its work to develop a global reporting ‘baseline’ on impact related to enterprise value. “The Impact Taskforce calls on governments to support and participate in upcoming consultations, ensuring that the ISSB: has an inclusive governance model; balances social and environmental issues; acknowledges and reflects realities of both emerging and developed economies; actively engages small and medium enterprises (SMEs) along the value chain; and is swiftly followed by an assurance regime for all data relevant to enterprise value for public companies.”
The ITF also calls for governments to build on this baseline to address other impacts, and for mandatory accounting for impact as a destination, stressing that the journey towards this goal must be underpinned by greater transparency, harmonised global standards and strong mechanisms to ensure integrity of data and analysis.