The Task Force on Climate-related Financial Disclosures (TCFD), the body established under the auspices of the international body the Financial Stability Board to develop recommendations on the types of information that companies should disclose to support investors, lenders, and insurance underwriters, has disbanded and passed its monitoring of corporate climate- related disclosures and recommendation tasks to the International Sustainability Standards Board (ISSB)

The European taskforce that developed standards for use in the EU’s new Corporate Sustainability Reporting Directive (CSRD) and the Global Reporting Initiative (GRI), one of the most commonly used set of sustainability reporting principles, have formed an agreement to work toward interoperability of the two sets of standards.

The International Association of Insurance Supervisors (IAIS) is consulting on a review of its advice and guidance to insurance supervisory bodies around the world as to how they respond to “greenwashing” or misleading information on the sustainability of an insurer’s operations as well as why and how supervisors and insurers can use climate-related scenario analysis.

Growing consensus on the need to create regulated standards on ESG data has been given a boost with the publication of a set of recommendations by the international securities standards setting body for global regulators.

The international accounting standards body has announced the creation of a new global standards board dedicated to developing sustainability-related disclosure standards to be used by investors and capital market participants.