PensionsEurope welcomes the opportunity to comment on the exposure draft of climate-related disclosures, which should lead to the creation of the first thematic standard of the new International Sustainability Standards Board (ISSB).
PensionsEurope believes that the creation of thematic sustainability standards is a step in the right direction both from the perspective of international companies as well as pension funds. The upcoming creation of international sustainability reporting standards can ensure comparability in this area between different jurisdictions.
PensionsEurope advocates for the development of ESG reporting internationally and at all levels of the economy to fulfil the existing data gap. The proposed standard can execute efficiently this specific role and become equally the point of reference for Non-Financial Reporting.
The EU is currently taking the lead on ESG data with the SFDR, the CSRD and the upcoming European one. PensionsEurope thsu believes that the European experience could be used to influence the content of future international workstreams.