IFRS Foundation ́s International Sustainability Standards Board on the Right Track, Says IOSCO

04 November 2021

If the ISSB’s future standard meets IOSCO’s expectations, our endorsement willsupport all our 130 members in considering ways they might adopt, apply or be informed by thestandard.

Speaking at COP26 today, Ashley Alder, Chairman of IOSCO (and CEO of the Hong Kong
SFC), welcomed the publication by the IFRS Foundation of the prototype for the Climate
Disclosure standard to be finalized in 2022 and told delegates that the IFRS Foundation is
making good progress towards issuing the climate disclosure standard in 2022.

Ashley Alder said: “We have been looking for five key things from the IFRS Foundation:
• Prompt establishment of the ISSB,
• an early public indication for the market of the general approach the climate disclosure
standard will take,
• close and credible engagement with stakeholders,
• interoperability with other sustainability reporting requirements in jurisdictions and
• evidence of a strong understanding of what markets need in terms of meaningful
disclosures.

Following close interaction with IOSCO on the now published prototype for the ISSB’s climate
disclosure standard and the imminent announcement of the leadership of the ISSB, the IFRS
Foundation is making good progress.”

He concluded: “If the ISSB’s future standard meets IOSCO’s expectations, our endorsement will
support all our 130 members in considering ways they might adopt, apply or be informed by the
standard.

IOSCO

© IOSCO