More than US$3 trillion has flowed into investments specifically touting their environmental, social and governance credentials reported under scores of voluntary disclosures, stoking regulatory concerns about greenwashing.
"We will end up in a situation which is potentially even worse than what we have financially," she added, referring to failed attempts at deeper convergence between accounting rules in the United States and those from a sister body of the ISSB.are the most comprehensive, covering the full range of ESG risks to a company, as well as its impact on both the environment and society.
"The second problem is that you frustrate companies because, if you're an international firm, you need to do slightly different disclosures in different jurisdictions, which goes against the entire notion of easing the reporting burden to allow more information into the public domain." "The key point here is that we will not get perfect harmonisations," Ashley Alder, chair of IOSCO, the global forum for securities regulators like the SEC and a driving force behind the ISSB, told a conference this month.