Major ESG Reporting Groups to Collaborate on New Standards

Two of the leading sustainability reporting rules groups will work together to give companies a system for reporting the environmental damage they cause and the risks they face from threats like climate change.

The IFRS Foundation and the Global Reporting Initiative said Thursday they would coordinate standard setting and ensure they share the same metrics in areas like pollution measurement.

The foundation launched the International Sustainability Standards Board in November to develop mandatory reporting rules aimed at financial investors. The ISSB said it would publish its first proposed standards next week, covering climate and general disclosures. The GRI, in contrast, ...