UK-Adopted International Accounting StandardsAdoption Status Report
UK-Adopted International Accounting StandardsAdoption Status Report

UKEB Comment Letter: Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board (ISSB)

Date: 05 August 2021

The (UKEB) has issued a Comment Letter to the IFRS Foundation on its Exposure Draft relating to the proposed amendments to the IFRS Foundation’s Constitution to accommodate an ISSB to set International Sustainability Standards.

The comment letter highlights the UKEB’s views on this matter, including that:

  • the UKEB broadly supports the Foundation’s proposed Constitutional amendments to accommodate the ISSB to set international sustainability standards.
  • the advantages of international standards for sustainability are the same as those for international financial reporting standards, namely they can be used by companies to provide consistent and comparable information to all their investors and stakeholders in every jurisdiction where they have operations.
  • international sustainability standards, and the ISSB focus on their development, will lead to information material to the decisions of investors and other participants in the world’s capital markets.

Link to Comment Letter.