New Sustainability Rules Attacked for Protecting Profits Over Planet
A closely watched effort to unify a hodgepodge of climate-disclosure rules has major shortcomings, critics say.
Standardized reporting rules will make it easier for investors to assess how companies are affected by severe-weather events, such as this Jan. 2022 flood in Madagascar.
Photographer: Rijasolo/AFP/Getty Images
The organization aiming to set worldwide climate reporting requirements for decades to come is under fire for putting corporate interests ahead of the planet’s.
In coming months, the International Sustainability Standards Board will publish rules for companies to disclose the growing financial risks they face from climate change, environmental degradation and social inequality. This rulebook is poised to become the leading global standard for sustainability reporting, eventually used by asset managers, lenders and insurers to drive trillions of dollars in green investments.