The International Financial Reporting Standards Foundation. A not-for-profit, public interest organisation established to develop a single set of high-quality, understandable, enforceable and globally accepted accounting standards – IFRS Standards – and to promote and facilitate adoption of the standards.
IASB International Accounting Standards Board – the IFRS Foundation’s standard setting body
ISSB International Sustainability Standards Board.
The ISSB was formed by the IFRS Foundation to develop standards for high-quality, comprehensive global baseline of sustainability disclosures, to meet the needs of investors and the financial markets. Sustainability-related standards are denoted with an S (e.g. IFRS SI etc.)
IFRS SI sets down general disclosure requirements. IFRS S2 addresses climate-related disclosures and an adoption guide overview for both is provided together with the IFRS Sustainability Disclosure Taxonomy.
The International Finance Corporation is part of the World Bank Group and is focussed on encouraging growth in the private sector in developing countries. IFC helps its clients understand and manage the ESG risks they face.
The International Auditing and Assurance Standards Board
The IAASB is an independent standard-setting body that sets international standards for auditing, assurance and quality management.
IAASB have developed a proposed International Standard on Sustainability Assurance (ISSA) 5000 entitled General Requirements for Sustainability Assurance Engagements.
International Ethics Standards Board for Accountants.
The IESBA is a global standard-setting body that sets ethics (including independence) standards as a cornerstone to ethical behaviour in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide
In the case of regulated entities, these predominantly include asset managers and funds; also banks and insurers.
ISSB standards are the IFRS Sustainability Disclosure Standards. The first ISSB Standards – IFRS S1 and IFRS S2 – were published in June 2023 endorsed by IOSCO in July.
The Institutional Investors Group on Climate Change IIGCC is the European membership body for investor collaboration on climate change.
Integration of sustainability factors and risks in UCITS, AIFMD, MiFID II and IDD
• UCITS: Commission Delegated Directive EU 2021/1270 implemented in Ireland by amending UCITS Regulations – SI 442 of 2022
• AIFMD: Commission Delegated Regulation EU 2021/1255
• MiFID II: Commission Delegated Regulation EU 2021/1253 (risk management integration and investor sustainability preferences)
• MiFID II: Commission Delegated Directive EU 2021/1269 (product governance obligations)
• Solvency II: Commission Delegated Regulation 2021/1256 (integration into governance)
• IDD: Commission Delegated Regulation EU 2021/1257
The Intergovernmental Panel on Climate Change IPCC– the UN body for assessing the science related to climate change.
ISSB International Sustainability Standards Board. Sustainability-related standards will be denoted with an S (e.g. IFRS S1 etc.)
IASB International Accounting Standards Board – the IFRS Foundation’s standard setting body