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The comment period has closed on the two sustainability reporting exposure drafts issued by the International Sustainability Standards Board (ISSB). What did respondents have to say on the proposals? This week, Heather Horn was joined by Andreas Ohl and Katie Woods to unpack the key themes in comment responses, and also to provide updates from the ISSB’s most recent board meeting.

In this episode, our guests discuss:

• 2:21 - An overview of the ISSB exposure drafts and their general reception by stakeholders
• 9:13 - Key recurrent themes from the response letters, including interoperability, greenwashing, and safe harbor provisions
• 18:55 - How organizational boundaries are delineated in the proposals
• 23:15 - Respondents’ views on greenwashing and the importance of ensuring that disclosures are not misunderstood
• 33:50 - A recap of the ISSB’s October 2022 meeting 
• 42:17 - How changes in estimates pertaining to sustainability information may be treated under the proposals
• 46:20 - Suggestions for companies that will be implementing ISSB standards

Looking for more information on the ISSB and ESG reporting? Tune in to our previous podcast discussing the two exposure drafts and our In the loop on navigating the ESG landscape. Also see the Integrated Reporting Framework for further detail on potential value drivers in sustainability reporting. For a summary of the actions taken by the board at its October 2022 meeting, refer to the ISSB’s news release.

Andreas Ohl is a partner in PwC's National Office focused on thought leadership, standard setting, and mergers and acquisitions under US GAAP and IFRS. In addition to his US responsibilities, he leads the sustainability topic team for the PwC global network. Andreas is chairman of the Business Valuation Standards Board at the International Valuation Standards Council, is a member of the working group that authored the AICPA's in-process R&D guide, and has served as a member of the FASB's Valuation Resource Group.

Katie Woods is a Director in PwC's Global Accounting Consulting Services group and advises on ESG and International accounting standards. Katie specializes in the new and emerging ESG reporting frameworks working across the PwC Network. She has over 30 years of experience working with a broad range of companies. Katie speaks regularly on a range of ESG and accounting topics at national and international seminars.

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 dis