Understanding ISSB standards and their role in global ESG reporting

The International Sustainability Standards Board (ISSB) was established in 2021 to create globally consistent sustainability disclosure standards. The most important characteristic of these standards is that they provide investors with reliable and comparable information about how companies manage sustainability-related risks and opportunities.

The ISSB operates within the framework of the International Financial Reporting Standards (IFRS) Foundation and was created in response to growing calls from the global community for a more standardized sustainability reporting process. The standards were developed through a thorough process that considered over 1,400 responses in developing the standards and are supported by international bodies such as the G20, G7, the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO). (Bedasree Das, more at thecsruniverse.com)