Global Sustainable Disclosure Standards

Leaders of leading industrial nations at the Japan-hosted G7 summit in Hiroshima made a series of announcements in support of their Paris Agreement commitments to limit global temperature rise to 1.5°C, including supporting the development of the International Sustainability Standards Board’s (ISSB) upcoming sustainability and climate-related corporate reporting standards, calling for an end of construction of new unabated coal-fired power plants, and supporting initiatives to ramp climate transition finance to developing countries.

One of the key climate-related issues highlighted in the communique released Saturday by the leaders of Canada, the EU, France, Germany, Italy, Japan, the UK, and the US, was the need to mobilizing finance to facilitate emissions reductions and climate resilient development, “especially including private finance focusing on further implementation and development of clean technologies and activities,” alongside the G7’s commitment “to consistent, comparable and reliable disclosure of information on sustainability including climate.”