In a webinar to stakeholders and company reporters, IFRS Foundation trustee Larry Leva said: ‘There is a growing and urgent demand for global standards to improve consistency and comparability. Investors need better and globally comparable sustainability information. They want to better understand the impact of sustainability on financial results.

‘There is broad support for the IFRS Foundation to play a role and recognition that we must prioritise climate risks.

‘The focus will be on meeting the needs of investors in capital markets. We need to build on existing investor focused frameworks based on the TCFD [Taskforce on Climate-Related Financial Disclosures] and Sustainability Accounting Standards Board (SASB).’

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