ESG REPORTING STANDARDS ARE COMING TOGETHER
ESG REPORTING STANDARDS ARE COMING TOGETHER - Earlier this month SASB agreed to consolidate under IFRS/ISSB ( https://lnkd.in/gNWtZ8cj ) and now GRI is integrating with IFRS too. This is great news for companies as this will simplify and streamline the ESG reporting, auditing and benchmarking which will enable companies to move forward in sustainability with a much higher degree of confidence. In short, it's time to get bold and aggressive on embracing ESG and making sustainability a real thing in our businesses as we have a much clearer road map on how to move ahead. In June, the Value Reporting Foundation – home to the Integrated Thinking Principles, Integrated Reporting Framework and the SASB Standards – will consolidate under the IFRS Foundation, which is establishing the new International Sustainability Standards Board (ISSB). Today the IFRS Foundation and Global Reporting Initiative (GRI) announced a collaboration agreement
under which their respective standard-setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities. This is very positive news for all of us who have found this ESG reporting and performance benchmarking confusing.
I’d like to hear your thoughts on this, please share in the comments and pass it on. I'm excited to see everyone's perspectives so we can pool our learnings and take back new ideas to make ESG real in our organizations.
If ESG isn’t a part of your strategic growth planning and execution, then this is your call to action to embrace and live ESG, or you may find it hard to attract investors, customers, talent, partners and ultimately ensure your continued success in the new normal.