The EBF welcomes the International Sustainability Standards Board’s (ISSB) efforts to develop a commonly accepted global baseline for sustainability disclosures.
To the end of
fostering consistency, comparability, understandability, and an overall
harmonised and efficient framework, the EBF supports:
- The intention of providing structure to achieve comparability across jurisdictions and firms worldwide
- The ISSB’s continuous cooperation with existing international
initiatives and practices and with due regard to existing or new
standards, including the EFRAG’s European Sustainability Reporting
Standards (ESRS)
- A single set of comprehensive disclosure standards — applying to
both financial and non-financial firms — which is key to facilitating
better investment and financing decisions by all stakeholders
- The concept of double materiality, which although not addressed by
the ISSB, is an essential concept of sustainability as the impact of a
company on the environment and society at large is a crucial piece of
information for investors and lenders that wish to align their
portfolios to the Paris Agreement. We would, therefore, encourage
further guidance from the ISSB regarding materiality and enterprise
value, as well as on the interoperability between the ISSB and the EFRAG
standards (the latter having incorporated the double-materiality
concept)
EBF
© EBF
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