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Global ESG Reporting Proposals Need Work, Standard-Setter Says

July 21, 2022, 3:14 PM

Proposed global standards covering climate and general sustainability reporting need changed to make them clearer and more exact, the International Sustainability Standards Board said Thursday.

At its second board meeting, the ISSB discussed preliminary feedback on two draft standards published in March. This generally supported the ISSB’s approach but highlighted several areas to change.

  • The consultation remains open until July 29, but feedback from 62 respondents—40 for general and 22 for climate—found widespread recognition of the urgent need for sustainability reporting rules. Respondents supported the ISSB’s approach of basing its standards around existing voluntary rules.
  • There were calls ...