Towards The Globalization Of Sustainability Disclosure Standards

Abstract

The article seeks to underscore the indicators of the trend towards the globalization of sustainability disclosure standards via global initiatives employed by companies in the preparation of sustainability reports, notably the initiative of the International Financial Reporting Standards Foundation., which is considered one of the leading organizations to develop and promote worldwide accounting practices through the publication of worldwide Financial Reports. In 2021, IFRS established the International Sustainability requirements Council (ISSB) to promulgate sustainability disclosure requirements pertaining to financial and environmental matters., social and corporate governance practices, and on March 31, 2022, the International Sustainability Standards Council published its first proposed standards. One sets out general disclosure requirements related to sustainability (IFRS S1) and the other sets out climate-related disclosure requirements. (IFRS S2).