🛠️ New Tool Alert: ISSB's Roadmap Development Tool Launched
The ISSB just dropped a game-changing tool to help jurisdictions plan and design their adoption roadmaps for ISSB Standards. This interactive tool is set to make regulatory planning a breeze!
Key Points
- •🌍 Global Impact: The tool was unveiled at the first IFRS Foundation Implementation Partners Workshop in London.
- •📅 Milestone Moment: Marks a significant milestone in the ISSB's commitment to supporting capital markets.
- •💼 Who's Involved: International bodies, financial institutions, and accounting networks are all on board.
- •🛠️ What It Does: Helps jurisdictions navigate policy considerations and key steps for ISSB Standards adoption.
- •📊 Decision Making: Supports informed decisions on regulatory processes, reporting entities, requirements, and readiness.
🌟 The Big Reveal
In a move to streamline the adoption of ISSB Standards, the IFRS Foundation has launched the Jurisdictional Roadmap Development Tool. This tool was unveiled at the first IFRS Foundation Implementation Partners Workshop held in London, gathering international bodies, financial institutions, multilateral development banks, national development agencies, and accounting networks to discuss its impact.
The tool transforms concepts from the Inaugural Jurisdictional Guide for the adoption or other use of ISSB Standards into practical applications. This means jurisdictions and implementation partners can now easily navigate the policy considerations and key steps needed for planning and designing their roadmap for ISSB Standards adoption.
🛠️ How It Works
The Roadmap Tool is designed to assist jurisdictions in making informed decisions across four key areas:
- Regulatory Process: How to adopt or otherwise use ISSB Standards.
- Reporting Entities: Who will be subject to the requirements.
- Requirements: What specific content will be covered in the sustainability-related disclosure requirements?
- Readiness: Addressing when requirements will become effective, setting a suitable timeline, and whether there is a case for scaling and phasing in.
Emmanuel Faber, ISSB Chair, highlighted, "This Roadmap Tool equips regulators to make informed decisions about their approach towards adoption or other use of ISSB Standards."
🤝 The Collaborative Effort
Implementation Partners play a crucial role in this initiative. They support and advise jurisdictions in developing their approaches towards the adoption or other use of ISSB Standards into regulatory frameworks. The collaboration between jurisdictional authorities and implementation partner organizations is expected to yield far-reaching impacts, making the Roadmap Tool a central resource for jurisdictions worldwide.