Opinion: Beware the warrior accountants

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Opinion: Beware the warrior accountants via fpcomment

the standards also provided comments — which, circularly, the board has cited to demonstrate support for the proposals. Since July, the ISSB has been working at breakneck speed to revise the standards for implementation.to the public, key points proposed by the ISSB staff have been debated and voted on by the board members. It appears that many critical comments raised during the consultation period are being given short shrift.

Criticisms of a requirement to provide “water stress data” also went unacknowledged. Instead, the ISSB made a significant change with respect to water by removing the distinction between the freshwater an entity uses and the total water it draws. This has important implications for mining and oil field services companies, many of whom have worked hard to reduce the freshwater used in their operations.

Normally in this type of international standard-setting, a revised draft would be issued and another round of comments solicited in order to smooth out potential shortcomings. Not so with the ISSB. The staff is

 

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fpcomment How interesting that ISSB has former Director in Accounting Regulatory Dept of the Chinese Ministry of Finance & that CPPIB Chief Sustainability Officer, Managing Director & Head of Sustainable Investing is also Chair of the ISSB Investor Advisory Group. Don't tell Cdns though

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