[Global Financial Insights] World Bank Group and IFRS Foundation Partner to Advance ISSB Standards in Emerging Markets and More
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- Last Updated on 4 October, 2024
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Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update.
1. World Bank Group and IFRS Foundation partner to advance ISSB standards in emerging markets
The World Bank Group and IFRS Foundation have strengthened their partnership to promote the adoption of International Sustainability Standard Board (ISSB) Standards in emerging markets and developing economies (EMDEs). This collaboration, announced during New York Climate Week 2024, will focus on sustainability reporting and climate-related financial disclosures. The World Bank has also committed to aligning its financial reporting with ISSB Standards. The expanded partnership aims to enhance transparency and unlock capital flows in EMDEs, supporting global sustainability efforts.
Source: IFRS Foundation
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