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The Investment Company Institute (ICI) has expressed support for the IFRS Foundation’s proposed amendments to the IFRS Constitution which would create an International Sustainability Standards Board (ISSB) responsible for setting IFRS sustainability standards.
ICI CEO Eric J. Pan said:
“The IFRS Foundation deserves enormous credit for leading the effort to make international corporate sustainability reporting more comparable and consistent. We strongly support plans to create an International Sustainability Standards Board (ISSB). ICI urges IFRS, however, to ensure that the ISSB prioritizes above all else the interests of the investors who will be relying on the standards it creates. Currently, the draft objectives appear to conflate the sustainability information needs of investors with the information needs of other stakeholders. This confusion should be addressed right away in recognition of the fact investors will be the primary users of sustainability reporting.”
