Created by the International Financial Reporting Standard in 2021 to issue International Sustainability Standards for use for climate change accounting purposes.
Subject to criticism because the creation of a separate body with separate standards implies that sustainability is an issue that need not be addressed by accounting standards issued by the associated International Accounting Standards Board, implying that climate change is still considered an externality for accounting purposes when that is not the case.
The ISSB has ignored sustainable cost accounting when creating its first standards despite there being significant public support for it in public consultation processes.
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