Regulators of the world’s top stock exchanges gave their backing to the international climate-reporting standards framework Tuesday, adding momentum to efforts to establish the rules as the global baseline.
The International Organization of Securities Commissions, known as Iosco, endorsed the International Sustainability Standards Board’s recently published climate reporting standard.
While some businesses may be waiting to see the completed SEC climate reporting rules, it hopes the advantages of using a single standard worldwide outweigh any disadvantages of being more demanding than the SEC’s coming climate reporting rules.
PREVIEWIt is now up to individual countries and jurisdictions to decide if and when they adopt the ISSB standards.
“This is a hugely significant step towards a global baseline of sustainability reporting.
Persons:
—, Jean, Paul Servais, Benoit Doppagne, “ Iosco, ”, Larry Bradley, Iosco, PwC, KPMG’s Bradley, “, Rochelle Toplensky
Organizations:
International Organization of Securities Commissions, International, U.S . Commodity Futures Trading Commission, Securities, Exchange, Zuma, SEC, U.S, EU, KPMG, Sustainable Business, Rochelle
Locations:
Japan, China, Britain, U.S, Australia, Canada, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, Glasgow