Sustainability reporting with two different voices: The European Union and the International Sustainability Standards Board

• Published in: Journal of international accounting, auditing & taxation Vol. 56; p. 100635
• Main Author: Krivogorsky, Victoria
• Format: Journal Article
• Language: English
• Published: Elsevier Inc 01-09-2024
• Subjects: Corporate social responsibility; European Union; ISSB; Sustainability reporting; Corporate social responsibility; ISSB; Sustainability reporting; European Union
• ISSN: 1061-9518
• DOI: 10.1016/j.intaccaudtax.2024.100635

The dynamic changes in the European Union (EU) regulations for sustainability reporting present a challenge for corporate report users and academics to keep pace with the new developments. This study reviews the process of developing sustainability standards in the EU, shedding light on the contrasting and significantly different approaches of the International Sustainability Standards Board (ISSB) and European Financial Reporting Advisory Group (EFRAG) through their pronouncements, comment letters, and commentators’ responses. A key study contribution is its support for stakeholders’ and academics’ efforts to stay current with the evolving sustainability reporting landscape worldwide, which is now becoming more fragmented. The study also explores the implications of these differences and suggests potential areas for future research.