The IFRS has published Exposure Draft that outlines proposed targeted amendments to the IFRS Foundation Constitution to accommodate an International Sustainability Standards Board (ISSB) to set IFRS sustainability standards.
To receive sufficient input from stakeholders, the Trustees have published proposed targeted amendments to the Constitution to determine:
- whether the proposed governance structure would provide legitimate oversight of the standard-setting by a new board; and
- whether the proposed amendments are proportionate to the Foundation’s strategy in relation to the potential work of the new board.
Specifically, the Trustees invite comments on the proposals to amend the Constitution to:
- expand the Foundation’s objectives to create a board that will set IFRS sustainability standards under the Foundation’s governance structure;
- set out the structure and function of the new board; and
- align other parts of the Constitution with the creation of the new board.
For more information, see here.
Comments are to be received by 29 July 2021.
Insurance Europe response – draft