Promoting Sustainability Through Global Accounting Standards: The Role of the IFRS Foundation

This post discusses the role of the International Financial Reporting Standards (IFRS) Foundation in promoting sustainability through global accounting standards. The IFRS Foundation was established in 2001 to develop and promote a single set of high-quality global accounting standards, which are now used in over 140 countries. In addition to its work on developing and promoting IFRS, the Foundation also provides education and training resources to support the use of IFRS and works with national standard-setters and regulators to promote the consistent application of IFRS around the world. As businesses become more conscious of their impact on the environment and society, the need for transparent and comparable sustainability reporting has grown. The Foundation's work in providing education and training resources and promoting consistent reporting can be extended to sustainability reporting, ensuring that businesses report their sustainability performance in a consistent and transparent way.