Joint Statement: ISSB Global Adoption
The transition to a net zero, sustainable global economy requires an efficient allocation of capital, and effective management of the associated risks and opportunities. In this context, consistent, reliable and decision-useful sustainability data from organisations is essential.
Yet, as it stands, there remain significant gaps in even the most basic sustainability-related data. For example, 2022 research shows that, of the 4,000 largest listed companies globally, over 40% do not disclose their operational carbon emissions.
Together with 120 investors, stock exchanges, corporates and industry associations and other stakeholders we call for commitment from relevant authorities across jurisdictions to adopt the ISSB standards – IFRS S1 and IFRS S2 – as a global baseline for financially material sustainability information on an economy-wide basis by 2025.
ISSB adoption in relevant international jurisdictions can contribute to:
- Boards overseeing how sustainability-related risks and opportunities are addressed;
- Corporates showing their performance and attracting capital, which further accelerates progress on their sustainability targets;
- Financial industry allocating capital efficiently, accounting for sustainability-related financial risks and opportunities, and addressing sustainability goals;
- Governments and international organisations deploying capital markets more effectively to achieve their sustainability priorities and track sustainability-related progress from the private sector.
