The COVID-19 pandemic outbreak switched the attention of the policymaker and governments worldwide toward an emergent global health crisis, digitalization, green supply chain, climate change, sustainable investments, adoption of green growth, development strategies, and issues in ESG reporting. In order to meet increased demand for simplifying guidance and framework on which ESG information is disclosed, the IFRS Foundations decided to establish ISSB. This thesis critically examines the call for “harmonization” of ESG reporting frameworks and standards that switch control of ESG report to the investor-oriented standard-setting body. It investigates the necessity for forming ISSB under IFRS Foundation, its implication on future ESG reporting, and upcoming issues from IFRS lack of practices and understanding of ESG reporting on reporting practice. The methodology used is a qualitative research approach of data collection to make an analysis of existing reports provided by IFRS, VFR, SASB, GRI, Deloitte, and KPMG, different case studies collected by academics and scholars in journals. Furthermore, semi-structured interviews were made with professors teaching in Ca ‘Foscari university and two workers from Big Four. The research indicates that the establishment of the ISSB under these circumstances shows a lack of engagement with alternatives, mischaracterization of IFRS Foundation’s expertise about sustainable reporting, and lack of connection between ISSB goals to fulfillment of SDGs.
Formation of the ISSB
Mulic, Nejla
2022/2023
Abstract
The COVID-19 pandemic outbreak switched the attention of the policymaker and governments worldwide toward an emergent global health crisis, digitalization, green supply chain, climate change, sustainable investments, adoption of green growth, development strategies, and issues in ESG reporting. In order to meet increased demand for simplifying guidance and framework on which ESG information is disclosed, the IFRS Foundations decided to establish ISSB. This thesis critically examines the call for “harmonization” of ESG reporting frameworks and standards that switch control of ESG report to the investor-oriented standard-setting body. It investigates the necessity for forming ISSB under IFRS Foundation, its implication on future ESG reporting, and upcoming issues from IFRS lack of practices and understanding of ESG reporting on reporting practice. The methodology used is a qualitative research approach of data collection to make an analysis of existing reports provided by IFRS, VFR, SASB, GRI, Deloitte, and KPMG, different case studies collected by academics and scholars in journals. Furthermore, semi-structured interviews were made with professors teaching in Ca ‘Foscari university and two workers from Big Four. The research indicates that the establishment of the ISSB under these circumstances shows a lack of engagement with alternatives, mischaracterization of IFRS Foundation’s expertise about sustainable reporting, and lack of connection between ISSB goals to fulfillment of SDGs.File | Dimensione | Formato | |
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https://hdl.handle.net/20.500.14247/7650