The International Sustainability Standards Board (ISSB) has been working quickly through deliberations on its proposals to create a comprehensive global baseline of sustainability disclosures. Final standards are expected by the end of Q2 2023. But implementing an effective global baseline goes beyond simply setting standards – it requires a new set of capabilities, infrastructure, knowledge, and talent in economies around the world.

How will this be accomplished? This week, Heather Horn was joined by Jingdong Hua, Vice Chair of the ISSB, and Mardi McBrien, Strategic Affairs Director of the IFRS Foundation, to discuss the topic of “capacity building” and how the IFRS Foundation is focused on bringing the global reporting community along the sustainability reporting journey.

In this episode, you’ll hear discussion of:

• 2:29 - What capacity building means
• 4:59 - How the ISSB is creating partnerships to advance its progress toward building capacity
• 12:35 - The importance of interoperability across jurisdictions and regulatory frameworks
• 17:50 - The ISSB’s three-part capacity building framework
• 26:21 - How the ISSB is bringing together stakeholders with varying interests for common goals
• 28:40 - Expectations on timing of release of final ISSB standards and resources for companies to prepare

Want to hear more about the ISSB? Listen to our previous podcasts on its fast-paced deliberations as well as PwC’s responses to the ISSB exposure drafts. For more on how ISSB standards compare to other proposals, read our publication: Navigating the ESG landscape.

Jingdong Hua is the Vice Chair of the ISSB. His role on the board is to develop and implement the ISSB’s strategies to support and include stakeholders in emerging and developing economies as well as small and medium-sized companies. He is the former Vice President and Treasurer of World Bank, where he specialized in sustainability bonds and developed the world’s first “green-bond.” 

Mardi McBrien is the Director of Strategic Affairs at the IFRS Foundation responsible for sustainability reporting. In this role she has played an active part in setting up the ISSB. Prior to the IFRS Foundation, Mardi spent over a decade leading the global ESG standard setter, the Climate Disclosure Standards Board (CDSB), in developing quality disclosure standards and thought leadership on environmental and social issues.

Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].

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