Global ESG Reporting Standards Too Narrow, Unclear, Critics Say

Draft sustainability reporting standards issued by an international board have been slammed by stakeholders as being too vague, taking too narrow an approach and giving firms too much freedom over reporting.

The International Sustainability Standards Board was set up last year to write the first mandatory, global reporting standards. It published its first two draft sustainability reporting standards covering climate and general sustainability disclosures in March. Over 630 climate-related letters have been submitted and nearly 700 general sustainability-related letters have been shared. The comments ahead of last week’s deadline on a public consultation came from companies, investors, regulators, and academics. ...