The goal of sustainable reporting standards is to provide ESG (Environment, Social, Governance) transparency of financial products and of corporates. The development of sustainable transparency is not at the same stage in the most important financial markets. The European Union develops an ambitious regulatory framework (SFDR, CSRD, taxonomy), based on the double materiality principle and with the goal to encompass all the ESG aspects; based on EFRAG proposals, the Commission should adopt a first set of European sustainable standards on climate and environment before year end. At the international level, there have been the recommendations of the TCFD and the creation of ISSB which is about to produce its first standards on climate. In the USA, there is a political uncertainty on this issue.
Given the interest of corporates and financial actors in the convergence of these standards, the roundtable will discuss the priorities for such a convergence.
Points of discussion
- What is your assessment of the EFRAG proposals, and in particular their comparability and compatibility with the ISSB reporting standards?
- How do you assess the reporting standards proposed by the ISSB, notably as a set of minimum requirements at the global level?
- How do you assess the possibility that the United States, China, Japan and other major countries could converge on sustainable reporting standards ?