Today the Coalition of Finance Ministers for Climate Action hosted Lee White, Executive Director of the International Financial Reporting Standards (IFRS) Foundation, and Sam Prestidge, Adviser on Governance and Strategic Policy at the IFRS Foundation, for the Coalition’s first ‘Stakeholder Dialogue’. This event was organized by the Helsinki Principle 5 Workstream on ‘mobilizing private finance'.

Mr. White presented on the IFRS Foundation’s consultation on the harmonization of sustainability reporting standards and the next steps the IFRS plans to take towards establishing a Sustainability Standards Board. Following this presentation, Coalition Members asked questions related to scope, implementation, and proportionality of the proposed sustainability standards.

The participants agreed that it was a very informative session and that the Coalition will be in touch with the IFRS Foundation as it takes the next steps on this initiative.

The Coalition will aim to support Members by raising awareness of the technical and political aspects of sustainability reporting standards and supporting global collective action, including the IFRS where possible.