The global movement to make companies report on the environmental, social and governance impacts of their activities took a major step toward reality on Wednesday, with the creation of a single standards setter under the auspices of the organization followed by most of the world.
The new body—called the International Sustainability Standards Board—is being established by the IFRS Foundation. And in a move that will help to reduce the alphabet soup of competing standards, two major existing ESG accounting groups are being folded in: the Value Reporting Foundation, parent of the Sustainability Accounting Standards Board; and the Climate Disclosure Standards ...