Sustainability Community

The UK Government (whom I work for) has just released Information on the  framework to create UK Sustainability Disclosure Standards (UK SDS) by assessing and endorsing the global corporate reporting baseline of IFRS Sustainability Disclosure Standards.

Link Here

The new standards will be based on the recently published sustainability and climate-related reporting standards issued by the IFRS Foundation's International Sustainability Standards Board. The ISSB was launched in November 2021 at the UK-hosted COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards, driven by demand from investors, companies, governments and regulators to provide a global baseline of disclosure requirements enabling a consistent understanding of the effect of sustainability risks and opportunities on companies' prospects.

"By using the IFRS Sustainability Disclosure Standards as a baseline, the aim is for the information companies disclose under UK SDS to be globally comparable and decision-useful for investors. The disclosures required by these standards will help investors to compare information between companies, thereby aiding decision making; supporting the efficient allocation of capital, and smooth running of the UK's capital markets."

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James MacLeod-Nairn
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Thanks for highlighting this development, James.

Worth also noting that the K Endorsement Board, the body responsible for formally adopting new IFRS accounting standards into the UK has just finished consulting on their response to the ISSB on their agenda priorities for the next two years.  We input into the UK's consultation - now up on our website. Very grateful for the help of Jane Fuller in formulating our response.  Happy to take any questions.

Andy