IOSCO’s Erik Thedéen welcomes collaboration with IIRC and framework and standard setters on comprehensive corporate reporting system

Erik Thedéen, Chair of the IOSCO Sustainability Task Force, has published an open response on 28 October, in response to the open letter from CDP, Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI) International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB).

In the letter, Mr Thedéen wrote ‘We welcome your invitation to IOSCO to engage meaningfully’ adding that ‘we look forward to continuing and deepening our collaboration with your organisations.’

Mr Thedéen stated that ‘the “building blocks” approach outlined in the Statement of Intent has the potential to deliver an integrated and consolidated set of disclosures that meets multiple stakeholders’ needs.’

He further confirmed that ‘the approach can help to deliver much-needed transparency both on how sustainability impacts companies’ performance and enterprise value creation (financial materiality), and how companies contribute to sustainable development (environmental and social materiality).’