BlackRock Backs Proposal for Global Sustainability Standards

Amid myriad standards, measurements and disclosure frameworks in the world of sustainability, BlackRock Inc. identified one effort that may put an end to the confusion surrounding corporate sustainability reporting.

The International Financial Reporting Standards Foundation’s proposal last month to form a globally recognized sustainability standards board is “the most practicable and likely to succeed,” BlackRock said in its quarterly stewardship report on Thursday. “We believe a combination of the best ideas would minimize the reporting burden on companies.”

IFRS Foundation’s trustees published a consultation paper on Sept. 30 to gauge demand for a global set of sustainability standards, and what ...