Commenting on today’s release of the International Sustainability Standards Board (ISSB) inaugural standards—IFRS S1 and IFRS S2, George Richards, Partner and Head of ESG Reporting and Assurance, KPMG in the UK, said:
“Today’s announcement from the ISSB marks a watershed moment and is a vital step towards a consistent and comparable global baseline for sustainability reporting.
“The transparency this creates will ensure companies are better held to account, and can build trust with their customers, investors, and regulators over what they are doing to address sustainability risks and opportunities.
“Using the ISSB Standards, companies, and business leaders in the UK, and globally, have an opportunity to make a positive difference not only to our climate and nature crisis but also to influence important social and governance issues. However, the hard work doesn’t end with external reporting. This is just the beginning - the measure of success must include a shift in the mindset of boardrooms across all companies – one which also drives positive change to decision making and a move from the ‘what’ to the ‘how’ on setting and achieving sustainability goals and ambitions.”
