Comments on IFRS Sustainability Disclosure Taxonomy

  • Cooperation with the EFRAG is essential since the EU is also working on the development of an European Sustainability Reporting Standards Taxonomy. Answers to many questions raised by the IFRS Foundation Staff will depend on the choices made by the EFRAG. Companies should not have to comply with 2 different taxonomies.
  • Digitalisation should be phased-in, starting with quantitative data before moving to narrative information which still raises many questions.
  • Before its implementation, the IFRS Sustainability Disclosure Taxonomy should be tested with preparers.

Educational material would be welcome. In particular, the ISSB could produce guidance to help preparers implement the taxonomy.