Skip to content
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
Insurance Journal - Property Casualty Industry News

Featured Stories

  • Farmers Data Breach Could Impact 1M+ Customers
  • ‘Big Four’ Reinsurers Maintain Property-Cat Appetite
  • Articles
  • Jobs
  • Markets

Current Magazine

current magazine
  • Read Online
  • Subscribe
  • Login
  • Front Page
    • National
    • International
    • Most Popular
    • Magazine
    • Forums
    • Blogs
    • Videos/Podcasts
    • Newsletters
  • News
    • Most Popular
    • National
    • International
    • East
    • Midwest
    • South Central
    • Southeast
    • West
  • Magazines
  • Research
  • Directories
  • Jobs
  • Features
    • Events
    • Forums
    • Market Directories
    • Quotes
    • Polls
    • Rankings & Awards
    • Insurance Giving Back
  • Subscribe

New Global Standard Setter for Corporate Sustainability Drafts 1st Guidelines

By Huw Jones | April 5, 2022
Email This Subscribe to Newsletter
  • Article

A new global standard setter for company sustainability reporting set out its first draft guidelines on Thursday [March 31], entering a crowded field as trillions of dollars pour into investments marketed as “green.”

The International Sustainability Standards Board (ISSB) published two draft standards for public consultation until July 29 ahead of formal adoption by the end of the year.

European Union Lawmakers Agree to Force Foreign Firms to Comply With ESG Rules Corporate Climate Risk Disclosures Still Falling Short, Regulators Say

The move is backed by world leaders, top investors and regulators, who want a more rigorous international approach to corporate sustainability disclosures which replaces a patchwork of standards. There are also growing calls to combat the risk of greenwashing, or exaggerated sustainability claims by companies.

The ISSB has proposed two new standards, which countries will decide whether to make mandatory.

The first sets out general sustainability related financial disclosures.

The second details specific climate-related disclosure requirements covering “Scope 1-3,” meaning data on the company’s direct emissions, indirect emissions from purchased energy, and indirect emissions from a company’s value chain, such as raw material suppliers.

Critics have argued the ISSB is being less ambitious the European Union, whose rules also require disclosures on a company’s own impact on the environment, known as double materiality.

ISSB Vice Chair Sue Lloyd said the ISSB standards seek to meet the needs of investors who want to know the impact of sustainability factors on a company’s enterprise value, meaning the value of its shares and net debt.

The ISSB draft standards ultimately capture the impact of a company on the environment given that polluting results in fines and potential customer boycotts which affect profitability, Lloyd said.

“When a company is doing things to people, the planet, the environment which are having impacts, much of that will affect its enterprise value,” Lloyd said.

The ISSB can work in tandem with the EU norms, she said.

The U.S. Securities and Exchange Commission (SEC) has also proposed disclosure rules for listed companies which are very similar to the draft ISSB standards, Lloyd said.

“We will be working with the SEC and the EU to try to bring our proposals even closer together,” Lloyd said.

(Reporting by Huw Jones; editing by Mark Potter)

Copyright 2025 Reuters. Click for restrictions.

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

TransUnion: Aggressive Shopping Continues for Home, Auto Coverage
Ford to Recall Hundreds of Thousands of Vehicles Over Instrument Panel, Leak Issues
States Rethink Practice of Setting Speed Limits Based on How Fast Drivers Travel
TransUnion Says 4.4 Million Consumers’ Data Compromised in Hack

Written By Huw Jones

More From Author

The most important insurance news,
in your inbox every business day.

Get the insurance industry's trusted newsletter

Email This Subscribe to Newsletter
  • Categories: International & Reinsurance NewsTopics: Climate Change, Climate disclosure, environmental social and governance (ESG) criteria, Financial Stability Board (FSB), global warming, greenwashing, International Sustainability Standards Board, sustainability, sustainable investments, United Nations COP26 summit
  • Have a hot lead? Email us at newsdesk@insurancejournal.com
More News
People Moves: Carpenter Taps Aon’s Goodman for Newly Created Role of Chief Client & Growth Officer; Aon Promotes Anderson as Head of Professional Services
Peloton Must Face Shareholder Lawsuit Over Post-Pandemic Outlook
Ford to Recall Hundreds of Thousands of Vehicles Over Instrument Panel, Leak Issues
DeSantis Unleashes ‘Florida DOGE’ in Quest to Kill Property Taxes
More News Features

Read This Next

  • New Global Standard Setter for Corporate Sustainability Drafts 1st Guidelines
  • When Luck Runs Out: Where $100B Hurricanes Might Happen
  • Florida Uses Highway Weigh Stations as Immigration Check Points
  • Farmers Insurance Data Breach Could Impact More Than a Million Customers
  • 'Big Four' Reinsurers Maintain Property-Cat Appetite, Despite Signs of Rate Softening

Insurance Jobs

  • Insurance Account Executive/Manager Wanted Flexible Hours, Potential Equity - Dix Hills/Deer Park, NY
  • Sales Agent - Encino, California
  • Insurance Administrator - New York
  • Managing Engineer – SAP Financials - Remote, IL
  • Account Executive / Select Accounts Underwriter (hybrid) - Charlotte, NC
MyNewMarkets
  • When Insurance Isn't the Optimal Risk Management Approach
  • Reputation Risk Can Overshadow Ransom in Cyberattacks, Aon Says
  • Tackling Cyber Risks: The Vital Role of Brokers in Third-Party Data Protection
  • DIY Home Inspections Are Taking Over, Firms Say
  • Six Things to Know About Umbrella Insurance
Claims Journal
  • Didi Pays $740 Million to Settle Lawsuit Over US IPO
  • 4.4 Million Consumers' Data Compromised in Hack, Transunion Says
  • FTC Sues LA Fitness for Making it Exceedingly Hard to Cancel Gym Memberships
  • EU Carmakers Warn Combustion Engine Ban Is No Longer Feasible
  • Peloton Must Face Shareholder Lawsuit Over Post-Pandemic Outlook
Academy of Insurance education
  • August 7 EPLI Basics
  • August 14 Managing and Insuring Reputational Risk
  • August 19 How To Write: Flood
  • August 21 Workers' Comp Crash Course

Insurance News

  • News by Region
  • News by Topic
  • Yesterday

Site Search

Features

  • Insurance Markets Directory
  • Forums
  • A.M. Best Company Ratings
  • Industry Events
  • Agencies For Sale
  • Newswire
  • Insurance Jobs
  • Rankings & Awards

Connect with us

  • Email Newsletters
  • Magazine Subscriptions
  • For Your Website
  • RSS Feeds
  • Twitter
  • Facebook
  • LinkedIn
  • Do Not Sell My Info

Insurance Journal

  • Submit News
  • Advertise
  • Subscribe
  • Reprints
  • Link to Us
  • Contact Us

Wells Media Group Network

  • Insurance Journal
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
© 2025 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map