Sustainability Board Simplifies Definitions for Nature Reporting

The International Sustainability Standards Board voted Wednesday to simplify the name of its second detailed reporting standard as it decided to define some of the terms to be used more precisely.

All 12 members of the board supported changing the name of the new standard to “nature-related disclosures,” rather than “biodiversity, ecosystems and ecosystem services.” They also voted to draw up concrete definitions of some of the terms used in the new standard such as “impacts on nature.”

• Board members decided to change the project’s name because “nature” is a term widely used and understood by companies, whereas the original ...