wef_esg_letter_klaus_schwab_and_brian_moynihan_2021-d75cc84581de19dd.pdf

The World Economic Forum and Bank of America advocate for the establishment of a global ESG standard-setting body, specifically supporting the IFRS Foundation's proposed Sustainability Standards Board (SSB), to ensure corporate sustainability performance is comparable and accountable across international capital markets.

• The current landscape of corporate sustainability standards is described as fragmented, chaotic, and confusing, which prevents stakeholders from effectively comparing the sustainability profiles of different firms.
• To achieve global standardization of ESG metrics, the authors propose three steps: the creation of an independent global standard-setting body, endorsement of these standards by regulatory authorities in individual capital markets, and the integration of existing leading reporting initiatives into the process.
• The authors specifically support the IFRS Foundation's proposal to establish a Sustainability Standards Board (SSB) to operate alongside the International Accounting Standards Board (IASB).
• The International Organization of Securities Commissions (IOSCO) is identified as a key entity for enforcing standards across jurisdictions, including its recommended "building blocks" approach to create a consistent sustainability-related corporate information baseline.
• The World Economic Forum previously identified 21 core Stakeholder Capitalism Metrics based on the principles of governance, planet, people, and prosperity, developed in collaboration with Deloitte, EY, KPMG, and PwC.

APA

Moynihan, B., & Schwab, K. (2021). wef_esg_letter_klaus_schwab_and_brian_moynihan_2021-d75cc84581de19dd.pdf. World Economic Forum. http://www3.weforum.org/docs/WEF_ESG_Letter_Klaus_Schwab_and_Brian_Moynihan_2021.pdf

Chicago

Moynihan, Brian, and Klaus Schwab. wef_esg_letter_klaus_schwab_and_brian_moynihan_2021-d75cc84581de19dd.pdf. World Economic Forum, 2021. http://www3.weforum.org/docs/WEF_ESG_Letter_Klaus_Schwab_and_Brian_Moynihan_2021.pdf.

Wikipedia

{{cite press release |last1=Moynihan |first1=Brian |last2=Schwab |first2=Klaus |title=wef_esg_letter_klaus_schwab_and_brian_moynihan_2021-d75cc84581de19dd.pdf |publisher=World Economic Forum |date=26 March 2021 |url=http://www3.weforum.org/docs/WEF_ESG_Letter_Klaus_Schwab_and_Brian_Moynihan_2021.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{moynihan2021wefesgletterklausschwabandbrianmoynihan2021d75cc84581de19ddpdf, author = {Moynihan, Brian and Schwab, Klaus}, title = {{wef\_esg\_letter\_klaus\_schwab\_and\_brian\_moynihan\_2021-d75cc84581de19dd.pdf}}, publisher = {World Economic Forum}, year = {2021}, month = mar, url = {http://www3.weforum.org/docs/WEF_ESG_Letter_Klaus_Schwab_and_Brian_Moynihan_2021.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }