Adoption of the New International Sustainability Standards Board (ISSB) Disclosure Framework: Implications, Support, and 15Rock's Solution for ISSB Compliance
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July 19, 2023
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Adoption of the New International Sustainability Standards Board (ISSB) Disclosure Framework: Implications, Support, and 15Rock's Solution for ISSB Compliance

ISSB reporting for normal firms/people.

The ISSB has begun developing global standards for sustainability disclosures, a move backed by global powers including the G7, G20, IOSCO, among others. Recently, a coalition of 11 Canadian pension funds, with asset collectively exceeding $2 trillion, have also praised these standards.

Fragmented Landscape

With the increasing emphasis on sustainable investing, there's a growing need for consolidating a scattered landscape of sustainability-related standards and requirements. The ISSB aims to streamline this by providing a comprehensive global baseline of sustainability disclosures concentrating on investor needs. The ISSB's newly established standards seek to smooth the process of reporting what businesses globally need to disclose to their stakeholders.

Collective Call for Adoption

Canada's leading pension fund managers have issued a joint statement petitioning businesses for widespread adoption of these new ISSB standards. The pension funds are assertive in their belief that the ISSB standards would encourage firms to closely analyze and manage activities that have significant material impacts on long-term value creation. The ISSB released these universally applicable standards on June 26, aiming to improve trust in sustainability discourses that inform investment decisions.

15Rock Athena Aligns with ISSB

Enter Athena — 15Rock's AI reporting platform, which can act as a crucial connector between businesses and seamless ISSB compliance. Here's how:

Athena's Compatibility with ISSB Standards

Athena's AI capabilities align seamlessly with the ISSB’s intent to ensure comprehensive sustainability information is offered. It utilizes numerous climate risk scenarios and advanced AI for precise, data-driven reports. These reports greatly enhance the information available to investors, meeting ISSB's second key objective.

TCFD Compliant Reports

Aligned with ISSB's commitment to developing sustainability disclosure standards that build on market-led investor-focused initiatives like TCFD, Athena already generates detailed TCFD compliant reports.

Strategic Decarbonization Plans

Athena doesn't stop at risk assessment. It offers strategic decarbonization plans that align with ISSB's objective to develop a global baseline of sustainability disclosures.

Streamlining Disclosures

Athena simplifies the disclosure process by crafting AI-driven, ISSB-compliant sustainability reports.  This is in sync with the ISSB’s commitment to make the standards cost-effective, decision-useful, and market-informed.

Take your essential first step towards seamless ISSB alignment today. Adopt Athena — our revolutionary solution — for your sustainability reporting requirements, and join the global community taking decisive action towards a universally recognized sustainability disclosure language. For further details on how Athena can help streamline your ISSB compliance process, get in touch today. Stay ahead, stay informed, stay sustainable.