IOSCO expresses an urgent need for globally consistent, comparable and reliable sustainability disclosure standards

The International Organization of Securities Commission (IOSCO) Board met on 24 February 2021 and discussed the progress made over the past year by its Sustainable Finance Task Force (STF).

The IOSCO has released a statement, expressing an urgent need for globally consistent, comparable and reliable sustainability disclosure standards.

The IOSCO Board has identified following three priority areas for improvement in sustainability-related disclosures:

• Encouraging Globally Consistent Standards
• Promoting Comparable Metrics and Narratives
• Coordinating Across Approaches

To advance these priorities, IOSCO will engage with IFRS Foundation Trustees with the following objectives:

• Establishing a Sustainability Standards Board (SSB) with a Strong Governance Foundation
• Building on Existing Efforts
• Encouraging a “Building Blocks” Approach

The statement from IOSCO may be accessed here.