LONDON (Reuters) – Setting up a new standards board for sustainability could make it easier for investors to compare climate-friendly companies, a global accounting body said on Wednesday.
The International Financial Reporting Standards (IFRS) Foundation, which sets accounting rules used in over 100 countries, published a consultation paper on sustainability standards.
“Calls for standardisation and comparability of reporting on sustainability and climate-change issues continue to grow as these matters become increasingly important to capital markets,” said Erkki Liikanen, chair of the IFRS Foundation Trust.
“We therefore seek to assess whether there is demand for global sustainability standards and whether the IFRS Foundation should play a role in developing such standards.”
(Reporting by Huw Jones; editing by Maiya Keidan)
