On 31st January 2022, the Climate Disclosure Standards Board (CDSB) was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB). While this site and its resources remain relevant for preparers looking to improve sustainability disclosure until such time as the ISSB issues its IFRS Sustainability Disclosure Standards on such topics, no further work or guidance will be produced or published by CDSB. For further information please visit the IFRS website.

News

CDSB presents its priorities on the new European sustainable finance strategy

On 15 July, CDSB submitted its response to the European Commission’s public consultation on a renewed sustainable finance strategy. We have summarised the key points of our response.

CDSB welcomes the opportunity to comment on the upcoming sustainable finance strategy the European Commission will present in the autumn of this year. The aim of this strategy is to further mainstream sustainability priorities into the financial sector two years after the launch of the Action Plan on financing sustainable growth.   

In our response, we highlighted the need to: 

  • Accelerate the systematic sustainability transition of the EU financial sector through major policy actions 
  • Ensure that EU’s commitments and scientific evidence is implemented into relevant business conduct and financial markets conduct legislation;  
  • Implement the relevant pieces of legislation to ensure an assessment of all natural capital issues beyond but including climate change in all investment decisions;  
  • Promote further alignment of methods and metrics that companies and investors can use to assess impacts and dependencies on natural capital (using existing initiatives such as the Capitals Coalition and the CDSB Framework;  
  • Ensure that companies’ disclosures are meeting the investors’ needs for consistent, comparable, and decision-useful information. The review of the Non-Financial Reporting Directive is a step in the right direction to ensure that companies are putting the necessary tools in place to identify, manage and report on climate and environmental-related risks and impacts; 
  • Support further work to amend and adapt accounting standards to ensure that flows and stocks of natural capital are measured so that the environment is considered in financial decision making;  
  • Foster long termism on financial markets and in daily business activities, including through a change in companies’ corporate governance; and  
  • Expand the scope of the taxonomy regulation to cover brown and social economic activities.  

See our full response to the consultation.  

CDSB has also submitted a joint position paper drafted together with the members of the Capitals Coalition.

Questions? Get in touch with CDSB's Policy Manager, Axelle Blanchard: