Social Value International and Capitals Coalition respond to the ISSB consultations for its first two exposure drafts
Social Value International and The Capitals Coalition have led on an a collective response to the ISSB consultation on the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and the IFRS S2 Climate-related Disclosures exposure drafts.
Background
During the November 2021 COP26 negotiations the International Financial Reporting Standard (IFRS) Foundation announced the creation of a new International Sustainability Standards Board (ISSB). You can read more details about this announcement and the role of the ISSB here.
This was a landmark moment in SVI’s collective mission to change the way society accounts for value, and as such Social Value International issued a response to this announcement and development.
Read and download the SVI response to the IFRS announcement here.
Consultation for the first two ISSB Exposure Drafts
In one of its first actions, the ISSB released the initial proposed global sustainability standards for consultation.
Social Value International with the support of SVI members and networks, and also through collaboration with the Capitals Coalition and their community of practitioners and businesses have responded to this consultation.
Engagement with these communities consisted of a period for comment on a Draft response as well as an open webinar discussion delivered by the Capitals Coalition and SVI. You can watch back the full recording of this webinar here.
YOU CAN DOWNLOAD OUR COLLECTIVE RESPONSE HERE IN FULL.
Throughout our collective response there were 4 key areas of comment. You can find out more about these 4 key areas of comment from Jeremy Nicholls, Assurance Lead at SDG Impact, Co-Founder of SVI, and Capitals Coalition Ambassador:
Consistent criteria for useful information
Assurance and Materiality
Clarity on the intended users
What is "Reasonable”
Next steps
SVI will continue to share updates on the work of the IFRS and the new ISSB with our members and Global Network community. You can find out more about the role that SVI and our global community plays in influencing legislation and transforming accountancy practices on our dedicated campaign page “Transform Accounting, Transform Capitalism”.
If you would like to get more involved in this topic, please contact us at hello@socialvalueint.org.