First Global ESG Reporting Rules to Focus Only on Climate Change

Global sustainability reporting rules will initially focus on climate change and will aim solely at giving investors information, standard setters announced Monday.

The IFRS Foundation, parent body of the International Accounting Standards Board, said it would create a new board to develop sustainability reporting standards. The measures will be aimed at an audience no wider than existing accounting standards, which focus exclusively on information for the financial sector. Initially the standards will focus on the “urgent need” for climate-related information, the foundation said, and then standard-setters will consider other areas of environmental, social, and governance reporting.

• The foundation asked in ...