ABA prompts ISSB to incorporate digital taxonomy efforts into environment execution

Efforts by the International Sustainability Standards Board to specify how business environment and sustainability information will be digitally evaluated must be incorporated into existing efforts by the board, instead of being independently resolved, the American Bankers Association stated today in remarks to the ISSB. The board in June provided a proposed taxonomy to provide financiers and jurisdictional authorities access to business’ sustainability-related monetary details in a digital format.

In its remarks, ABA stated it supports efforts to establish a reporting taxonomy however thinks that more conversation amongst stakeholders is required prior to a reliable and normally accepted taxonomy can be completed. Such groups must consist of not just financiers and preparers, however likewise regulators, score companies and information aggregators, the association stated.