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ICAEW has announced strategic partnerships with the IFRS Foundation and the UN Sustainable Stock Exchanges initiative to support global sustainability reporting standards.
The partnerships, announced today (25 June), coincide with London Climate Action Week and aim to ensure high-quality implementation of the regulations.
Under the agreement, ICAEW will become an official training partner in the International Sustainability Standards Board programme, delivering materials to help companies disclose climate-related financial risks, the body said.
The standards are used across 40 jurisdictions and are endorsed for voluntary use by the UK government, with formal updates from the financial conduct authority expected later this year.
The initiative with the UN body will focus on advancing sustainability reporting by working with global stock exchanges to build capacity within the accountancy profession.
Alan Vallance, ICAEW CEO, said: “Announcing these strategic partnerships during London Climate Action Week reflects ICAEW’s commitment to our members, and the accountancy profession globally, in ensuring sustainability-related financial information serves its strategic purpose: supporting better decision-making, more effective capital allocation, and stronger, more resilient businesses.
“Through our partnerships with the United Nation’s Sustainable Stock Exchanges initiative and the IFRS Foundation, we are supporting the high-quality, consistent, and proportionate implementation of global sustainability standards in the public interest. This helps to reinforce the relevance of the profession, strengthen trust in corporate reporting, and build resilient competitive economies.”
He added: “When applied effectively, ISSB Standards and their local variants, provide companies with a strategic tool to understand and respond to risks and opportunities. These include energy security, infrastructure and supply-chain resilience to extreme weather events, access to limited natural resources, and ability to secure talent. These are financial material business issues, affecting cashflow, financial performance, and long-term value creation.
“By equipping ICAEW chartered accountants to integrate this into financial operations, controls and processes, to improve reporting to investors and other stakeholders and provide trust in that information, ICAEW is helping its members play a central role in driving competitive, resilient businesses, across both developing and emerging economies.”
