![]() ![]() The new standards-dubbed IFRS S1 and IFRS S2-"will help to improve trust and confidence in company disclosures about sustainability to inform investment decisions," the ISSB said. The ISSB was created by the International Financial Reporting Standards Foundation, a non-profit organization governing international accounting rules. The standards aim to "reassure the financial market about the information it is given", said Faber, the former chief executive of French food company Danone. will end the day our standards have gained a sufficiently significant position in the markets," ISSB chairman Emmanuel Faber told AFP. ![]() The new standards issued by the International Sustainability Standards Board (ISSB) on Monday will set uniform sustainability and climate standards for companies to follow worldwide from 2024. The poor quality of data and lack of common standards allows companies to overstate their climate credentials-the practice of "greenwashing". Currently, most large companies report how many tons of carbon they emit into the atmosphere each year, but the data is often not reliable.
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