IFRS Foundation’s feedback on sustainability standards board

The Trustees of the IFRS Foundation have published a feedback statement on their proposals to establish a new board to develop standards for sustainability reporting. The proposed board would operate in parallel to the IASB within the governance structure of the Foundation. The Trustees have not taken a final decision on this matter, but the feedback statement provides insights into their thinking, and an update on the latest developments. Alongside their feedback, the Trustees published a consultation document asking for comments on proposed changes to the IFRS Foundation’s Constitution to allow for the new board to be established as a part of the Foundation – these proposals are considered in a separate article below.