ISSB’s Inaugural Sustainability Disclosure Standards Put the Spotlight on Scope 3 Emissions in the U.S.
Highlights
The ISSB has approved sustainability disclosure standards that will be issued in June 2023 and become effective in 2024
The portion of the ISSB standards that phase in requirements for disclosure of Scope 3 emissions ups the ante considerably for the U.S.
As the world moves forward with the ISSB standards, including Scope 3 emissions, the U.S. needs to act quickly and decisively to keep up
One of the major hot button ESG issues in recent times has been the lack of common, transparent and reliable standards for measuring environmental, social and governance (ESG) performance or comparing performance within or across sectors. In an effort to fill this gap globally, at the UN Climate Change Conference in November 2021, the International Financial Reporting Standards Foundation (IFRS) announced the creation of the International Standards Sustainability Board (ISSB).
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