Explainer: First global guidelines for company sustainability disclosures

It was launched at the United Nations' COP 26 climate summit in November 2021 following a call from world leaders, investors and regulators for a more rigorous approach to company climate disclosures to combat greenwashing, or exaggerating green credentials. It is a sister body of the International Accounting Standards Board, whose accounting rules are used in over 140 countries.

The second standard focuses on climate and covers Scope 1, 2 and 3, respectively a company's direct emissions of carbon dioxice in metric tonnes, indirect emissions from the energy it has bought, and all other indirect emissions, such as from suppliers. The CSRD goes beyond the ISSB by including "double materiality," meaning the impact of a company on the environment and not just how climate affects a company.

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