Business groups call on EFRAG, GRI, SEC, and ISSB for global consistency in corporate sustainability reporting

The We Mean Business Coalition calls for global consistency in corporate sustainability reporting to support the Paris Agreement and the Glasgow Climate Pact. The coalition argues that misalignments in terminology and definitions between the SEC, EFRAG, GRI, and ISSB risk undermining the impact of these standards and increasing reporting burdens for companies. Specifically, the coalition urges the CSRD to align with ISSB and GRI on impact materiality, calls on the US SEC to allow the use of ISSB standards to meet reporting obligations, and encourages the ISSB to establish itself as the global baseline for sustainability-related financial disclosures.

• The We Mean Business Coalition argues that a new global baseline reporting standard for sustainability disclosures is necessary to meet the goals of the Paris Agreement and the Glasgow Climate Pact, specifically to limit global temperature rise to below 1.5ºC.
• The coalition warns that even minor discrepancies in terminology, definitions, and concepts across draft standards and legislation could reduce their collective effectiveness and force companies to provide additional reporting for multiple standards.
• The coalition requests that the Corporate Sustainability Reporting Directive (CSRD) include clear references to the ISSB to support a global capital markets baseline and to the GRI to ensure consistency regarding double materiality.
• The coalition urges the US Securities and Exchange Commission (SEC) to align its final rules for "The Enhancement and Standardization of Climate-Related Disclosures for Investors" with ISSB standards and to permit issuers to use ISSB disclosures to satisfy SEC obligations.
• The coalition supports the ISSB's working group for enhanced compatibility and urges it to establish the ISSB as the common global baseline for sustainability-related financial disclosures.

APA

We Mean Business Coalition (2022). Business groups call on EFRAG, GRI, SEC, and ISSB for global consistency in corporate sustainability reporting. https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/issb-letter/

Chicago

We Mean Business Coalition. Business groups call on EFRAG, GRI, SEC, and ISSB for global consistency in corporate sustainability reporting. 2022. https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/issb-letter/.

Wikipedia

{{cite press release |author=We Mean Business Coalition |title=Business groups call on EFRAG, GRI, SEC, and ISSB for global consistency in corporate sustainability reporting |date=18 May 2022 |url=https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/issb-letter/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{wemeanbusinesscoalition2022business, author = {{We Mean Business Coalition}}, title = {{Business groups call on EFRAG, GRI, SEC, and ISSB for global consistency in corporate sustainability reporting}}, publisher = {We Mean Business Coalition}, year = {2022}, month = may, url = {https://www.wemeanbusinesscoalition.org/what-we-do/for-policymakers/coalition-led-advocacy-interventions-from-business/issb-letter/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }