Global accoun�ng bodies applaud the eﬀorts of the ISSB and the[Type here]launchof its ﬁrst two sustainability disclosure standards
A statement from the Chief Executives of the Global
Accounting Alliance (GAA) to the accountancy profession
The Global Accoun�ng Alliance (GAA) applauds the signiﬁcant eﬀorts undertaken by the Interna�onal
Sustainability Standards Board (ISSB) to release the inaugural IFRS Sustainability Disclosure Standards(Standards) - IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information
and IFRS S2 Climate-related Disclosures – less than two years a�er the board’s forma�on in November
2021.
The ISSB was established in response to a global call for decision-useful, cost-eﬀec�ve, and marketinformed standards that reduce fragmenta�on in the repor�ng landscape. As a profession, we have beenac�vely involved in helping to shape these Standards which will provide a global baseline ofsustainability disclosures for the capital markets and enable consistent, comparable, and high-quality
sustainability repor�ng.
We are pleased that the Standards:•support compatibility with jurisdictional requirements and the GRI Standards;•

include proportionality mechanisms to enable companies of varied sizes and capabilities toapply the Standards, as well as provide transitional reliefs and additional guidance;•

support assurance services; and•include industry-based metrics as examples through non-mandatory guidance to help
companies disclose information most relevant to investors.

We look forward to the benefits the implementation of these standards will bring to global capital
markets, including giving investors robust and comparable information as a basis for making informed
investment decisions and comparing sustainability performance amongst companies. We also recognize
investor sustainability information needs beyond climate and look forward to engaging with the ISSB on
its future work plan and priorities.
Role of the accoun�ng profession
The global accoun�ng profession has an important public interest responsibility. Professional
accountants play a cri�cal role in the integrity and eﬀec�ve func�oning of our capital markets and thesestandards will enhance conﬁdence in sustainability informa�on. As ﬁnance and accoun�ng professionals,
our members have an important role to play in the eﬀec�ve implementa�on of and in providing
assurance services over these new standards.

Global accoun�ng bodies applaud the eﬀorts of the ISSB and the[Type here]launchof its ﬁrst two sustainability disclosure standards
As the chief execu�ves of global professional accountancy bodies, we commit to:•••building knowledge and understanding of these new Standards.
suppor�ng the development of educa�onal resources and implementa�on support tostrengthen organiza�onal capacity to report in line with these two Standards or, whereappropriate, other jurisdic�onal sustainability repor�ng standards.
suppor�ng the alignment of jurisdic�onal requirements with the global baseline of sustainability
disclosures developed by the ISSB.

About the Global Accoun�ng Alliance
Working together, we are the chief execu�ves of 10 of the world’s leading accoun�ng ins�tutes,
represen�ng over 1,400,000 members in over 180 countries around the globe. We have joined together
as the GAA to serve the public interest by leading the advancement of a high-quality accoun�ng
profession by sharing informa�on and collabora�ng on interna�onal issues important to the profession.