By having data management in sustainability data reporting may help to reduce reporting fatigue due to same data attribute at various reporting requirement. Alignment helps reduce duplication in reporting, complexity and fragmentation, to help provide decision-useful sustainability-related information for investors. 

Tremendous work by the IFRS Foundation, International Sustainability Standards Board (ISSB), GROUPE CONSULTATIF SUR L'INFORMATION FINANCIERE EUROPEENNE - EUROPEAN FINANCIAL REPORTING ADVISORY GROUP to drive alignment of standards and interoperability! The closer the alignment, the greater utility to investors and other users of the information reported, and the less burden for reporting companies. Well done! #sustainability #sustainabilityreporting #globalstandards

Many companies will be required or will choose to disclose information about sustainability-related matters using both #ISSB Standards and #ESRS.      The ISSB bilaterally engaged with the European Commission and EFRAG, in parallel to the development of the ISSB Standards and ESRS.      This engagement focused on:   ⏩ Where disclosure requirements could be aligned and alignment of definitions ⏩ Where disclosure requirements were unique to either set of standards; and ⏩ How to align key concepts.      Due to this work, the IFRS Foundation, the European Commission and EFRAG achieved a high degree of alignment of climate-disclosure requirements in ESRS and ISSB Standards. Alignment helps reduce duplication in reporting, complexity and fragmentation, to help provide decision-useful sustainability-related information for investors.    However, compliance with one set of standards does not automatically ensure compliance with the other.      👉 Find out more about the high-degree of alignment, particularly on climate, and how to comply with both sets of standards in the ESRS–ISSB Standards Interoperability Guidance:  https://lnkd.in/dE5KNHeZ        #IFRSsustainability #ISSBstandards #interoperability

The Sustainability needs, even not a unique standard framework, but the standards and systems to be aligned with each other so that: 1, Businesses are somehow comparable on ESG performance. 2, Businesses with their established ESG system can be accepted elsewhere outside its own region.

Last May the IFRS Foundation and EFRAG have released interoperability guidance to streamline the alignment between ISSB and ESRS standards 🌍. Many companies will now disclose sustainability information using both ISSB Standards and ESRS, reducing reporting duplication and complexity, and providing useful information for investors. However, complying with one set of standards doesn't ensure compliance with the other. At Global EcoRisk we help you navigate and comply with these evolving standards, ensuring your climate reporting is seamless and efficient. Reach out to learn more about how we can support your sustainability journey! 🌱   https://lnkd.in/dE5KNHeZ #ClimateReporting #Sustainability #ESRS #ISSB #IFRS #EFRAG #SustainabilityStandards

ISSB Releases SASB Taxonomy Updates The ISSB has enhanced the SASB Standards Taxonomy to align with: IFRS S2 Climate Disclosures (June 2023) Global Applicability Amendments (Dec 2023) These updates strengthen relevance and streamline reporting, whether used independently or with ISSB Standards. 🔗 Learn more | 🔗 Details #SASB #ISSB #Sustainability #ClimateDisclosures #Reporting #AAIMPACTINC

The #ISSB was called on by the market and international policy makers to deliver an efficient reporting landscape, ending the alphabet soup of voluntary initiatives and meeting investor demand for decision-useful, comparable information. The ISSB remains committed to serving as an anchor in the sustainability disclosure landscape, working closely with partners around the world to drive efficiencies. We deliver this through: ⏫ Consolidation – of #SASB (SASB Standards), #TCFD, Climate Disclosure Standards Board #CDSB and Integrated Reporting materials. 🤝 Establishing the ISSB as the sister board of the International Accounting Standards Board (IASB) – making sure the ISSB Standards work especially well with the requirements of the #IASB, while useable alongside any generally accepted accounting principles. 🔗 Supporting connections – through tools such as the #IntegratedReporting Framework and the Management Commentary Practice Statement. ✔️ Interoperability – with Global Reporting Initiative (GRI) #GRI, #ESRS and the US SEC. 📊 Through the ISSB Standard’s climate-related standard is becoming a basis for other initiatives – such as CDP, the Basel Committee on Banking Supervision, and the International Public Sector Accounting Standards Board (IPSASB). ✳️ Driving harmonisation in the landscape – through a number of strategic relationships. Watch this video to find out more about the ISSB’s role. 👇 #ISSBStandards #IFRSSustainability

The #ISSB has issued updates to the #SASB Standards Taxonomy to reflect disclosure requirements arising from recent amendments to the SASB Standards.  The SASB Standards Taxonomy is designed for use by preparers who apply ISSB Standards in conjunction with the ISSB Taxonomy, and by preparers who apply the SASB Standards independently of ISSB Standards.    These updates cover:  📝 the consequential amendments that were made in connection with the issuance of IFRS S2 Climate-related Disclosures in June 2023: https://lnkd.in/eqK5RpqX 📝 the amendments that were made as part of the ISSB’s International Applicability of the SASB Standards project in December 2023: https://lnkd.in/eJHHtTwi   👉 Access the final XBRL files and supporting materials: https://lnkd.in/eVVXjyrC #SASBStandards #taxonomy International Sustainability Standards Board (ISSB)

Sustainability reporting news! The #IFRS Foundation and EFRAG have published guidance outlining the level of alignment between the ISSB standards (IFRS S1 and IFRS S2) and the ESRS. (link in comments). Audifina - Lucanet partner in Baltic States is at your services whenever you need a consultation on sustainability or financial reporting. #ESRS, #sustainabilityreporting, #ESG, #IFRS

#ESRS–#ISSB #Interoperability #Guidance: The International Sustainability Standards Board (ISSB) and the European Commission services, together with EFRAG, have worked together during the development of the European Sustainability Reporting Standards (ESRS)1 and the IFRS Sustainability Disclosure Standards (ISSB Standards) to achieve a high degree of alignment of the respective standards, with a specific focus on climate‑related reporting. Consequently: -  the definition of financial materiality in ESRS is aligned with the definition of materiality in IFRS S1 General Requirements for Disclosure of Sustainability‑related Financial Information -  the two sets of standards include common defined terms; and -  there is a high degree of alignment of the climate-related disclosures in the two sets of standards and, in particular, almost all the disclosures in ISSB Standards related to climate are included in ESRS. This joint interoperability guidance describes the alignment of disclosure requirements and information that an entity starting with each set of standards needs to know to enable compliance with both sets of standards, ensuring interoperability between them. Regardless of whether it starts with ESRS or ISSB Standards, an entity can comply with the climate requirements of both sets of standards by following the content of this interoperability guidance.