Shaping sustainability standard setting

The creation of the ISSB within the IFRS Foundation in 2021 was one of the most significant developments
in global corporate reporting in a generation. It laid the groundwork for the development of a suite
of international sustainability disclosure standards and a less fragmented reporting landscape. It also
provided opportunities for closer alignment of financial and non-financial reporting.
Developments elsewhere, in particular the European Commission’s adoption of the European sustainability Reporting Standards (ESRS), have also progressed quickly, especially when compared to the relatively sedate pace of accounting standard setting to which we had become accustomed in recent years. With so much change happening at some pace and with so much at stake many stakeholders we spoke to agreed that it was important to take a step back to reflect on what has been achieved, and what might be done better.
This report is not an academic study and should not be interpreted as such. It reflects views we heard
from stakeholders at a roundtable event held in London in September 2023 and a series of one on one interviews with standard-setters, policymakers, academics and others, conducted between
September and November 2023. Naturally, the views noted in the report do not necessarily reflect
the views of all of the project participants. Where appropriate, we have offered views of our own,
which broadly align with positions we have taken in previous policy responses. Some references to
relevant ICAEW policy responses are included.

source :

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