Several UN organisations issues joint statement on ISSB exposure drafts
30 June 2022
Several UN organisations, including the UN Regional Commissions, UN Environment Programme Finance Initiative, UN Global Compact and others have issued a joint statement on the International Sustainability Standards Board’s exposure drafts.
The join statement includes the following:
The standards being developed by the ISSB provide a unique opportunity. They can support global convergence of sustainability-related disclosure, create a common reporting baseline, and help mainstream sustainability-related issues into regular business strategy and management.
Despite this opportunity, there is a risk that these key benefits will not be delivered. In particular: (i) a narrow interpretation of enterprise value (and the factors that affect it) would mean that ISSB standards could leave out important sustainability risks and opportunities; and (ii) the ISSB standards could result in selective disclosure by reporting companies. To address this risk, solutions lie in a holistic approach that complement a list of core globally harmonized indicators, along with additional steps to strengthen the impact of the standards, as laid out below.
The full press release may be accessed here.