Global Board Mulls Basing Nature Rules on Voluntary Reports

Global reporting standards to cover biodiversity could be based on existing voluntary rules, echoing the approach to climate reporting, the International Sustainability Standards Board said Tuesday.

The ISSB was discussing how to approach drafting a new standard covering biodiversity, ecosystems, and ecosystem services, although it hasn’t yet decided whether to press ahead. Board members supported drawing on voluntary reporting rules launched in September 2023 by the Taskforce on Nature-related Financial Disclosures, an initiative backed by investors, government, and international organizations as part of an effort to minimize the loss of natural assets.

“It’s important not to reinvent the wheel,” ISSB ...