IIF Welcomes New Sustainability Disclosure Standards from ISSB
June 26, 2023
The Institute of International Finance (IIF) today expressed its support for new global sustainability disclosure standards launched by the International Sustainability Standards Board (ISSB).
Global investors, lenders and creditors have a vested interest in measuring both a company’s resilience to climate-related risks, and its potential to capture business opportunities. These new standards from the ISSB are intended to serve as an internationally recognized framework for the disclosure of this climate- and sustainability-related information.
“This is an important step toward a standardized sustainability disclosure approach that works across borders,” said IIF President and CEO Tim Adams. “Multiple sets of ‘rules of the road’ increase transaction costs and inefficiencies. We welcome this release and look forward to engaging further with the ISSB as it supports implementation, refines its standards, and explores work in new areas.”
“We believe the ISSB standards will help create a global baseline of consistent, comparable, reliable, and decision-useful information,” said Sonja Gibbs, Head of Sustainable Finance for IIF. “Better information will support market price discovery and valuation – which fosters more efficient global capital markets.”
IIF also encourages IOSCO and global securities regulators to work with the ISSB to ensure consistent application of these new standards, and supports the ISSB’s transparent, independent and rigorous standard-setting process.
About the Institute of International Finance (IIF)
The Institute of International Finance (IIF) is the global association of the financial industry, with about 400 members from more than 60 countries. The IIF provides its members with innovative research, unparalleled global advocacy, and access to leading industry events that leverage its influential network. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, professional services firms, exchanges, sovereign wealth funds, hedge funds, central banks and development banks. To learn more about IIF, please visit www.iif.com, follow us on Twitter, LinkedIn or YouTube, or check out IIF’s podcasts.