Skip to main content

Sustainability Reporting and Assurance: A Focus on Ethics and Independence

A Commitment to Trustworthy Sustainability Reporting and Assurance

The IESBA's global sustainability standards address critical ethics and independence challenges in sustainability reporting and assurance, including risks like conflicts of interest, pressure, and bias leading to Greenwashing. The International Ethics Standards for Sustainability Assurance (IESSA) and related revisions provide a robust ethical and independence framework to protect investors, consumers, and society against misleading sustainability information and illicit financial flows hiding behind “green” objectives. The Use of Experts revisions establish clear guidance for assessing the competence, objectivity, and capabilities of external experts, ensuring reliable and trustworthy contributions to sustainability assurance.

IESBA's Ethics in Sustainability Standards Certified for PIOB and Ready for Global Release!

IESBA welcomes the Certification of its Global Ethics and Independence Standards for Sustainability Reporting and Assurance

Represents a Major Step Forward for Integrity and Public Trust in Sustainability Information

Executive Summary on IESBA's Proposed Ethics Standards for Sustainability Reporting and Assurance

IESSA At A Glance

This overview, developed by IESBA Staff, highlights key elements of IESBA's recently released exposure drafts on International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the Code Relating to Sustainability Assurance and Reporting and Using the Work of an External Expert.

Proposed standards aim to foster greater trust in all publicly communicated sustainability information through the application of a consistent ethical approach

  • What You Need to Know (Short Video)
    Video file
  • Global Voices of IESBA Discuss Ethics in Sustainability
    Tom Seidenstein IESSA quote Sue Lloyd IESSA Asmaa Resmouki IESSA Alan Johnson IESSA Jean Paul-Servais IESSA

     

  • Additional IESBA Materials

    IESBA's Sustainability Reference Group

    IESBA's Sustainability Reference Group (SRG) has been established to support the work of its Sustainability Task Force. The SRG members have been selected based on a series of criteria, including their background, experience or expertise in sustainability reporting or assurance, stakeholder groups, and geographical location. The members will act as a “sounding board” to the Sustainability Task Force, providing insights, expertise, or advice relating to the development of global ethics and independence standards for sustainability reporting and assurance. 

    The SRG will be chaired by Mr. Channa Wijesinghe, IESBA Member and Sustainability Task Force Member.

     

    The SRG Members are: 

    Objectives of Sustainability Reference Group (SRG)

    • To act as a sounding board to the IESBA’s Sustainability Task Force on proposals relating to the development of global ethics and independence standards for sustainability reporting and assurance (“IESBA sustainability standards”).
    • To provide insights, expertise or advice on identified areas or matters relating to the development of the IESBA sustainability standards.
    • To provide input to, or otherwise assist in, the development of non-authoritative guidance material relating to the application of the IESBA sustainability standards.

    Ethics Considerations in Sustainability Reporting: Including Guidance to Address Concerns About Greenwashing

    The IESBA is committed to being part of the rapidly progressing developments regarding sustainability reporting and assurance and providing timely responses to ethics and independence-related concerns.

    This publication is intended to highlight the relevance and applicability of the Code to several ethics-related challenges arising from professional accountants' involvement in sustainability reporting and assurance, especially circumstances related to misleading or false sustainability information (i.e., "greenwashing").

    IESBA Global Sustainability Roundtables

    The International Ethics Standards Board for Accountants (IESBA) held a series of four global roundtables to obtain stakeholder input to help shape the development of new ethics and independence standards for sustainability reporting and assurance.

    The all-day roundtables, held in person in Paris, France (March 24), Sydney, Australia (March 30), Singapore (April 3), and New York (April 6), allowed stakeholders to convey relevant information to be addressed in developing the new standards. They were attended by members of the investor and corporate governance communities, C-suite executives, data aggregators, rating agencies, regulators and oversight bodies; international policy-making organizations; national standard setters; preparers; professional accountancy organizations; and sustainability assurance providers, including accountancy firms and independent providers outside the accountancy profession.

    Read the briefing materials for attendees here.

    The IESBA announced in June 2022 its commitment to take timely action to develop fit-for-purpose, globally applicable ethics and independence standards as a critical part of the infrastructure needed to support transparent, relevant, and trustworthy sustainability reporting and assurance. Importantly, this strategic commitment sets up the IESBA’s ethics and independence standards as the third pillar to trustworthy sustainability reporting and assurance, alongside the standards being developed by the International Sustainability Standards Board (ISSB) and the International Auditing and Assurance Standards Board (IAASB).  

    In December 2022, the IESBA approved two new standard-setting projects that will develop profession-agnostic ethics and independence standards for sustainability reporting and assurance and on the related topic of “use of experts.”

Image
IESBA Sustainability Hero

The IESBA's Sustainability Reference Group

IESBA's Sustainability Reference Group (SRG) has been established to support the work of its Sustainability Task Force. The SRG members have been selected based on a series of criteria, including their background, experience or expertise in sustainability reporting or assurance, stakeholder groups, and geographical location. The members will act as a “sounding board” to the Sustainability Task Force, providing insights, expertise, or advice relating to the development of global ethics and independence standards for sustainability reporting and assurance. 

The SRG will be chaired by Mr. Channa Wijesinghe, IESBA Member and Sustainability Task Force Member.

The SRG Members are: 

Objectives of Sustainability Reference Group (SRG)

  • To act as a sounding board to the IESBA’s Sustainability Task Force on proposals relating to the development of global ethics and independence standards for sustainability reporting and assurance (“IESBA sustainability standards”).
  • To provide insights, expertise or advice on identified areas or matters relating to the development of the IESBA sustainability standards.
  • To provide input to, or otherwise assist in, the development of non-authoritative guidance material relating to the application of the IESBA sustainability standards.