The International Sustainability Standards Board on Thursday announced the expansion of its Jurisdictional Working Group to strengthen the role of its disclosure standards as a “global passport” for sustainability reporting.
The announcement came at the IFRS Sustainability Symposium in London, which drew participants from more than 45 jurisdictions.
In his keynote address, ISSB Chair Emmanuel Faber said the move would promote closer dialogue among regulators and align sustainability reporting across borders.
“As jurisdictions introduce sustainability-related disclosure requirements, the need to avoid fragmentation is clear,” Faber said. “Our expanded working group and the new guide provide tools to help jurisdictions use ISSB Standards as the global passport.”
Lowering Costs and Friction
The passporting provisions will allow countries to accept sustainability reports prepared under ISSB Standards while accommodating jurisdiction-specific requirements.
This approach aims to cut costs for preparers and minimize frictions that can slow information flow in capital markets.
The ISSB said the framework would help ensure comparability and efficiency for companies and investors worldwide.
Transitioning to a unified sustainability reporting system, it added, will support clearer communication of sustainability performance across borders.
Responding to Growing Adoption
The newly expanded Jurisdictional Adopters Working Group reflects rising interest in ISSB Standards, with about 40 jurisdictions planning to adopt or align with them.
The group will provide a structured platform for policymakers to coordinate implementation and discuss passporting mechanisms.
Alongside the announcement, the ISSB unveiled a Jurisdictional Rationale Guide and an accompanying tool.
These resources outline the motivations behind adoption and highlight how countries can strengthen their capital markets through transparency and efficiency.
The guide draws on early adopters’ experiences, noting that the ISSB Standards help investors make informed capital-allocation decisions while improving cost-effectiveness for companies.
Building the Global Baseline
Faber emphasized that ISSB Standards now cover about 40 percent of global capital markets and are gaining momentum as the global baseline for sustainability reporting disclosures.
“We are committed to maximizing the benefits ISSB Standards offer,” he said. “The expansion of our working group and new guide respond to jurisdictions’ need for forums, tools, and resources supporting the effective use of the Standards as the global passport.”
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