In March 2022, the International Sustainability Standards Board
(ISSB) published two exposure drafts setting out
proposed International Financial Reporting Standards
(IFRS) Sustainability Disclosure Standards.
The IFRS, which sets global accounting standards, established
the ISSB in light of increasing calls for transparent, reliable and
comparable reporting by companies on ESG matters. The proposed
standards are intended to provide the first global baseline for
sustainability reporting and aim to increase the consistency of
reporting on ESG-related matters internationally. The exposure
drafts are open for consultation until 29 July 2022.
At present, a myriad of international and national, voluntary
and mandatory, standards exist, with varying levels of application
and enforcement creating a globally fragmented view of
ESG-reporting. This creates a challenge for corporates in terms of
their reporting and which standards they can and should choose to
adopt in
