Global ESG Reporting Rules Will Be Updated in Stages, Board Says

Global sustainability reporting standard-setters voted unanimously Thursday to update a voluntary disclosure framework that underpins its work in phases, saying they lacked the capacity to tackle the industry-specific standards all at once.

All 14 members of the International Sustainability Standards Board voted for the phased approach to updating an existing set of voluntary rules for how companies should disclose a wide range of environmental, social, and governance issues such as business impacts of climate change.

The standards are set by the Sustainability Accounting Standards Board. SASB was an independent US-based organization but now falls under the three-year-old ISSB’s umbrella. Around ...