PARIS: Common standards unveiled Monday (Jun 26) for companies to report their greenhouse gas emissions could curb misleading climate claims in the corporate world, the chair of the body that wrote the norms told AFP. Currently, most large companies report how many tonnes of carbon they emit into the atmos
PARIS: Common standards unveiled Monday for companies to report their greenhouse gas emissions could curb misleading climate claims in the corporate world, the chair of the body that wrote the norms told AFP.
The new standards issued by the International Sustainability Standards Board on Monday will set uniform sustainability and climate standards for companies to follow worldwide from 2024. The ISSB was created by the International Financial Reporting Standards Foundation, a non-profit organisation governing international accounting rules.
Companies have to voluntarily adopt the standards, or governments have to decide whether to require them to do so. "When you have lots of countries all making regulations and requirements at the same time, that's a bit of a nightmare scenario for companies," said Kate Levick, the associate director for sustainable finance at independent think tank E3G.
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