Geneva, 26 June 2023: WBCSD congratulates the International Sustainability Standards Board (ISSB) on the publication today of the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. WBCSD welcomes this important milestone toward setting the global baseline for sustainability disclosures and launches a Preparer Forum for Sustainability Disclosure to support implementation.
Peter Bakker, WBCSD CEO, said: “In the spirit of what gets measured, gets managed, the launch by the IFRS Foundation and the ISSB of IFRS S1 and IFRS S2 is a momentous step forward in the urgent need to advance sustainable business transformation and decarbonize our society. This will allow companies to manage their carbon performance and show their investors their progress on the existential transformation to a net-zero business model. I call on all governments to make the IFRS S1 and IFRS S2 the global baseline to hold businesses everywhere accountable.”
To accelerate the adoption of these important standards, WBCSD is launching a Preparer Forum for Sustainability Disclosure, hosted by Redefining Value. The Preparer Forum will support WBCSD member companies to identify and develop the necessary governance and management capacities, systems and processes to implement the ISSB disclosure standards and maximize alignment with other major sustainability reporting frameworks and regulations. The Preparer Forum will work closely with ISSB to provide feedback to support further development of the IFRS standards. WBCSD will also release an implementation guide with a side-by-side analysis of the ISSB Standards and the current draft European Sustainability Reporting Standards (ESRS), to help companies identify key considerations for implementation, and useful resources.
Please contact WBCSD’s Redefining Value team for more information on WBCSD’s response.
