IOSCO is joining, in the capacity of "observer," a new Technical Expert Group ("TEG") tasked with the refinement of a prototype climate-related disclosure standard. IOSCO stated that the TEG will assess whether the refined prototype satisfies the need for comparable, mandatory sustainability-related disclosure across jurisdictions, and whether it will be compatible with existing accounting reporting standards.
IOSCO anticipates that the TEG will complete its initial technical recommendations for the prototype before the UN Climate Change Conference (COP 26) in November 2021.
- IOSCO Press Release: IOSCO Technical Expert Group to Undertake an Assessment of the Technical Recommendations to Be Developed as Part of the IFRS Foundation's Sustainability Project
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.