ESAs notify the Chair of the Trustees of the IFRS Foundation on global sustainability standards

The Chairs of the three European Supervisory Authorities (ESAs), EBA, EIOPA and ESMA, submitted a letter today to Mr Erkki Liikanen, Chair of the Trustees of the IFRS Foundation, regarding the Foundation consultation on sustainability reporting. In their letter, the Chairs agree that improving data availability and public disclosure by corporates is a key element to foster sustainable growth, and strongly support the development of globally accepted non-financial reporting standards to facilitate the disclosure of meaningful and comparable metrics on environmental, social and governance aspects. They also support that international standards should build on existing jurisdictional and international initiatives, including those of the European Union.