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UNDP is delighted to have had the opportunity to provide comments to the Proposed Targeted Amendments to the International Financial Reporting Standards (IFRS) Foundation Constitution to Accommodate an International Sustainability Standards Board (ISSB) to Set IFRS Sustainability Standards. UNDP welcomes IFRS’s focus on improving the quality of sustainability related disclosures in financial and enterprise value reporting, recognizing the increasing importance of sustainability related issues on enterprise value.
UNDP's inputs centre around the proposed targeted amendments to the Constitution with regards to the focus on financial materiality and enterprise value, the climate first approach, alignment between enterprise value reporting and multi-stakeholder reporting, and a paradigm shift beyond financial materiality.
Please find UNDP's comprehensive response the IFRS consultations in this letter.