We were interested to note that Japan’s Financial Accounting Standards Foundation (FASF) has revised its organisational charter to include sustainability reporting standards in its purpose and business, in addition to accounting standards.
This week in Glasgow, at COP26, the IFRS Foundation announced the formation of the International Sustainability Standards Board (ISSB) to develop comprehensive baseline global standards for sustainability reporting.
“Sustainable finance is crucial for promoting orderly and just transitions towards green and more sustainable economies and inclusive societies,” say the G20 leaders.
We are very pleased to report that the US House of Representatives has passed the Financial Transparency Act (FTA) by 400-19.
Environmental, social and governance (ESG) factors are increasingly driving investment strategies, and “ESG has now become a make-or-break consideration for leading investors globally,” says PwC.
As we recently reported, the Value Reporting Foundation has released the SASB Standards XBRL Taxonomy, enabling digital tagging of sustainability reporting using the SASB (formerly Sustainability Accounting Standards Board) set of standards, and hence improved comparability and analytical capabilities.
The Task Force on Climate-related Financial Disclosures (TCFD) has published its 2021 Status Report. It finds that disclosure in line with the TCFD’s recommendations has accelerated significantly, growing by 9% in 2019–20.
For those interested in the development of the proposed International Sustainability Standards Board (ISSB), a webcast from the International Financial Reporting Standards (IFRS) Foundation is important viewing.
At the September meeting of the International Forum of Accounting Standard Setters (IFASS), held virtually, one of the focal points was intangible assets.
For some time, the International Accounting Standards Board (IASB) has been developing and testing a pilot approach to develop disclosure requirements such that they better meet investors’ needs.
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