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Global Climate Reporting Rules May Lag as ESG Board Slow to Form

March 3, 2022, 5:35 PM

Binding rules for company climate reporting may be based only on a prototype standard assembled hastily last year, given delays in forming the International Sustainability Standards Board, which was announced in November.

The prototype climate standard is “crude,” according to Durham University accounting professor Carol Adams, having been put together quickly using existing voluntary reporting rules from bodies such as the Sustainability Accounting Standards Board, which has now been rolled into the ISSB.

Rushing through a formal climate reporting standard based on the prototype would “achieve something, but that might overall be negative,” Adams said by email ...