World Bank Spurs Emerging Markets to Adopt Global ESG Standards

The World Bank will encourage emerging markets to use international environmental, social, and governance reporting standards in a bid to bring consistency to corporate disclosures globally.

The international development bank announced Thursday, during New York Climate Week, that it will extend its partnership with the IFRS Foundation to cover sustainability reporting in emerging markets in addition to global accounting rules. The foundation is parent to both the International Accounting Standards Board and the International Sustainability Standards Board, whose corporate reporting rules must be adopted by each country individually.

• World Bank Group President Ajay Banga said in a statement that ...