The Tipping Point Fund on Impact Investing (TPF) applauds the International Financial Reporting Standards Foundation’s (IFRS) establishment of the International Sustainability Standards Board (ISSB), announced Wednesday at COP26. The TPF has worked behind the scenes with other funders to support the important work of the Impact Management Project (IMP), Value Reporting Foundation (VRF), Climate Disclosure Standards Board (CDSB) and others to establish the ISSB and is thrilled to see the culmination of years of hard work.

This is a major win for the impact investing sector and a potentially game-changing event for efforts to drive transparency in the capital markets more broadly. The ISSB should, for the first time, put forward impact standards to be adopted by investors, companies, and asset managers around the globe with the hope and intention that they form the basis for regulation across jurisdictions. Given the IFRS’ authority and leadership on accounting standards, and the strong support and consensus among diverse stakeholders it is evident that the IFRS is the appropriate institute to set up the ISSB. We believe that the creation of the ISSB will likely catalyze tremendous traction and drive global adoption of a single set of impact standards in a manner that has not been achieved previously.