IDB Group and IFRS Foundation promote adoption of sustainability disclosure standards

The Inter-American Development Bank (IDB), IDB Invest, and the IFRS Foundation announced a strategic partnership to promote the adoption and implementation of the IFRS Sustainability Disclosure Standards across Latin America and the Caribbean (LAC). The agreement launches an action plan with tools that include knowledge sharing, capacity building, and policy engagement.

The IFRS Sustainability Disclosure Standards, developed by the International Sustainability Standards Board (ISSB) in year 2023, provide a global baseline for the disclosure of sustainability-related risks and opportunities for capital markets, focusing on investor needs. The IDB is also aligning its own disclosures with IFRS Standards through a multi-year roadmap.