IFRS Foundation Trustees announce next steps in response to broad demand for global sustainability standards

The Trustees of the IFRS Foundation met on 1 February 2021 to review responses to the first three questions asked by their consultation paper on sustainability reporting. The responses indicate a growing demand for global sustainability standards and for IFRS Foundation to play a role in developing the standards. The Trustees agreed that a Trustee Steering Committee be formed to oversee the next phases of work.

The Trustees will be meeting next on 2-4 March 2021. The Trustees intend to produce a definitive proposal, including a roadmap with timelines, by the end of September 2021, and may announce the establishment of a sustainability standards board at the meeting of the United Nations Climate Change Conference COP26 in November 2021.

Detailed information on sustainability reporting project is available here.