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London, 3 November 2021 – Bob Moritz, PwC Global Chairman: We welcome today’s announcement establishing the International Sustainability Standards Board (ISSB). This is an important step towards having globally consistent and trusted standards for investor-focused corporate reporting on environmental, social and governance (ESG) issues.
The creation of the ISSB, with the consolidation of the Climate Disclosure Standards Board and Value Reporting Foundation, is a transformational event for ESG reporting. We are pleased that this strategic convergence will enable the ISSB to leverage existing standards and we encourage policy makers to build upon and align with the global sustainability standards issued by the ISSB as they consider reporting needs.
The ISSB is rightly starting with climate change, but it is important to quickly move on to other significant ESG areas. And, while investor needs are crucial, so are the needs of other stakeholders.
This is not just a technical issue - it is an important element of the kind of systemic economic reform we need to see to address issues like climate change. Increasing transparency shifts incentives, and makes it easier for markets to support organisations that perform well in a sustainable way. This is good for society and good for business.
Environmental, Social and Governance (ESG)
About PwC: At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 152 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
© 2021 PwC. All rights reserved.
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Ryan Stanton
Global Corporate Affairs & Communications, Managing Director, PwC United States
+1 310-367-1045
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