International standards for sustainability: fighting an uphill battle?

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Notwithstanding the benefits, the fragmentation and multiplicity of corporate (sustainability) reporting frameworks have also increased the costs for companies, investors and regulators. On 3 November 2021, the IFRS Foundation announced the creation of the International Sustainability Standards Board (ISSB). The aim is to deliver a global baseline for the comprehensive disclosure of sustainability/ESG factors, focusing on their impact on enterprise value.

How will these new standards translate into practice? Will they help meet the increasing demand from investors for high-quality, reliable and comparable information? How should the right balance be struck between substance, (double) materiality and alignment? What is the added value for a jurisdiction like the EU, considering the scope of the Corporate Sustainability Reporting Directive (CSRD) and the mandate given to the European Financial Reporting Advisory Group (EFRAG)? What is the link with the EU taxonomy?



  • Jean Paul Servais, Chairman of FSMA and Vice Chair of the IOSCO Board
  • Patrick de Cambourg, Chair of the EFRAG PTF-ESRS and President of the French Standard Setter ANC
  • Martina Macpherson, Head of ESG Strategy and Member of the General Management Committee at ODDO BHF
  • Anne-Claire Ducrocq, Head of ESG Reporting team, BNP Paribas

Moderated by Karel Lannoo, CEO of CEPS and General Manager, ECMI