Establishment of the National Adoption Readiness Working Group (ARWG) on Sustainability Reporting
Imported from official source
Announcement
the increasing importance of sustainability-related financial disclosures in promoting transparency, investor confidence, market integrity and sustainable economic development;
the publication of the International Sustainability Standards Board (ISSB) Sustainability Disclosure Standards, namely IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, as the emerging global baseline for sustainability-related financial reporting;
the recommendations of the International Organization of Securities Commissions (IOSCO) encouraging jurisdictions to consider the adoption or other use of the ISSB Standards;
South Africa’s commitment to strengthening corporate governance, attract sustainable finance, enhance industrial competitiveness and foster climate resilience;
the need for coordinated national consultation across government, regulators, business, professional bodies, investors, preparers, assurance providers, academia and civil society; as guided by the National Policy Development Framework;
the importance of ensuring that any future adoption of sustainability reporting requirements is proportionate, evidence-based, digitally enabled and aligned with South Africa’s constitutional, legislative and developmental priorities;
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