Tag: IFRS Foundation

IFRS Foundation and TNFD formalise collaboration to provide capital markets with high-quality nature-related information

Stuart Mitchell

The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have announced that they have signed a Memorandum of Understanding (MoU) signalling both parties’ commitment to build upon the TNFD recommendations in the ongoing work of the International Sustainability Standards Board (ISSB), to enable nature-related financial disclosures for use by capital markets. The ISSB will consider the relevance of the TNFD recommendations in meeting the needs of global capital markets. The ISSB has been a TNFD Knowledge Partner since the inception of the TNFD in late 2021 and its…

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IFC and IFRS Foundation announce partnership to improve sustainability reporting in emerging markets

Stuart Mitchell

The International Finance Corporation (IFC), a member of the World Bank Group, and the IFRS Foundation have signed a Memorandum of Understanding agreeing their strategic partnership to strengthen sustainable capital markets by improving sustainability and climate reporting in emerging markets and developing economies (EMDEs). The collaboration was announced during London’s Climate Action Week. Martine Valcin, IFC Global Manager, Corporate Governance and ESG Advisory, Knowledge and Learning, said: Today marks a pivotal moment as we join forces with the IFRS Foundation in advancing sustainability and climate reporting. Our combined efforts are…

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GRI and IFRS Foundation collaboration to deliver full interoperability that enables seamless sustainability reporting

Stuart Mitchell

The IFRS Foundation and the Global Reporting Initiative (GRI) are deepening their working relationship, building upon the Memorandum of Understanding signed in 2022. This collaboration seeks to provide a seamless, global and comprehensive sustainability reporting system for companies looking to meet the information needs of both investors and a broader range of stakeholders. The increased collaboration will optimize how GRI and ISSB Standards can be used together to facilitate reporting on an organization’s impacts, risks and opportunities, including risks that arise from the organization’s impacts. The International Sustainability Standards Board…

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IFRS Foundation and EFRAG publish interoperability guidance

Stuart Mitchell

The IFRS Foundation and EFRAG have published guidance material to illustrate the high level of alignment achieved between the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards (ISSB Standards) and the European Sustainability Reporting Standards (ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. Having first worked during the development of the ISSB Standards and ESRS to deliver a high degree of alignment, today’s publication now provides practical support that explains how companies can efficiently comply with both sets…

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IFRS Foundation announces ISSB Chair

Stuart Mitchell

The Trustees of the IFRS Foundation has announced the appointment of Emmanuel Faber to serve as Chair of the International Sustainability Standards Board (ISSB), this was effective 1 January 2022. The appointment follows the announcement at COP26 in November about the creation of the ISSB; the consolidation of the Climate Disclosure Standards Board and the Value Reporting Foundation (which houses the Integrated Reporting Framework and the SASB Standards) into the IFRS Foundation; and the publication of prototype general disclosures and climate disclosure requirements developed by the Technical Readiness Working Group.…

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