Following a public consultation closed this summer, the International Sustainability Standards Board (ISSB) is discussing in September the results of the input received on their draft proposals for climate and general sustainability standards.
Following a public consultation closed this summer, the International Sustainability Standards Board (ISSB) is discussing in September the results of the input received on their draft proposals for climate and general sustainability standards.
Frank Bold, together with leading expert organisations, has published a statement in which they are calling the ISSB to:
The signatories welcome all developments working towards the standardisation of mandatory corporate sustainability reporting and recognise the importance of cooperation and compatibility, while noting it should not come at the expense of the ambition and implementation of distinct standards. The ISSB is expected to review feedback from the consultation and issue new standards by the end of the year.
Other important voices have raised similar concerns, such as The UN-convened Net-Zero Asset Owner Alliance calling for net-zero disclosures and information on the degree of alignment with the Paris Agreement 1.5°C scenario. A joint statement by UN institutions, agencies, and associated organisations highlighted the need for “a holistic and forward-looking approach to sustainability management and disclosure”. The European Central Bank has also directly stressed that “to meet users’ expectations – any international standard should require companies to disclose not only issues that influence enterprise value, but also information on the company’s broader environmental and social impact” and reiterates the view that any international standard should cover all aspects of sustainability.
List of signatories:
Anti-Slavery International, Business and Human Rights Resource Centre, ECOS, Environmental Defense Fund Europe, Economy for the Common Good, Fair Trade Advocacy Office, Frank Bold, Global Witness, Oxfam, Publish What You Pay, ShareAction, Shift, SOMO, Transport & Environment, WalkFree, WWF
The Brussels office of the public interest law firm Frank Bold is currently recruiting a Research Intern to start full-time in January 2017 for a period of four to six months.
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