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illuminem summarizes for you the essential news of the day. Read the full piece on ESG News or enjoy below:
🗞️ Driving the news: The IAASB and IESBA have introduced unified global standards, ISSA 5000 and IESSA, to enhance sustainability reporting and assurance practices
• These measures aim to improve transparency, prevent greenwashing, and promote ethical compliance in sustainability disclosures
• The standards will take effect for periods starting December 15, 2026, with early adoption encouraged
🔭 The context: Demand for reliable sustainability data is growing as stakeholders seek trustworthy information for decision-making
• The new guidelines offer a framework-neutral approach to sustainability reporting, addressing risks like fraud and non-compliance
• The IAASB and IESBA will provide extensive resources, including webinars and technical guides, to support smooth adoption
🌍 Why it matters for the planet: Strengthened sustainability reporting fosters transparency and accountability, essential for addressing global environmental and social challenges
• These standards mitigate unethical practices like greenwashing, enhancing trust in ESG data critical to sustainable investments
⏭️ What's next: Implementation will include global webinars, detailed guidance, and feedback mechanisms to support adoption
• The standards aim to set a global benchmark for sustainability assurance, empowering practitioners and preparers to deliver high-quality, ethical reporting
💬 One quote: “Ethics is the foundation of trust. With these standards, we are equipping preparers and practitioners with the tools needed to uphold integrity and foster transparency in sustainability reporting.” – Gabriela Figueiredo Dias, Chair of the IESBA
📈 One stat: The standards will apply globally for sustainability reporting engagements starting December 15, 2026, with early adoption encouraged
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