In September 2022, NILGOSC joined 64 other global organisations in calling for major standard-setting efforts to more closely align with and support a global baseline for reporting sustainability-related information.
The endorsed statement was developed jointly by the World Business Council for Sustainable Development (WBCSD), the Principles for Responsible Investment (PRI), and the International Federation of Accountants (IFAC). In addition to formal consultation responses, the public statement makes clear the momentum and encouragement behind stronger alignment between sustainability standard-setting efforts.
The signatories are encouraging major actors, including the International Sustainability Standards Board (ISSB), the US Securities Exchange Commission (SEC) and the European Financial Reporting Advisory Group (EFRAG) to continue to work closely together, to align on the key concepts, terminologies, and metrics on which disclosure requirements are built.
A comprehensive global baseline of sustainability disclosures is required for reporting entities to avoid undue burden and for investors to make investment decisions that truly contribute to sustainable outcomes. It will help provide all stakeholders with a clear and accurate picture of an organisation’s ability to create sustainable value over time.
The full text of the endorsed statement can be found on the PRI website.