Multinational Firms Face Overlapping Sustainability Disclosures

Multinational companies reporting on issues such as financial risks from climate change will need to make separate disclosures to meet European Union and international requirements, a global standard-setter said.

The International Sustainability Standards Board’s latest message to businesses suggests a failure of attempts to avoid double reporting for companies operating in both the EU and other countries worldwide.

The global board’s goal was to create more consistent sustainability disclosures by cutting through the confusion of multiple voluntary frameworks companies follow.

The European Sustainability Reporting Standards kick in this year for the largest companies. They provide detailed rules for disclosures on ...