The Statement asserts that the GRI, SASB, CDP and CDSB, along with the TCFD recommendations for climate-related reporting, guide the majority of both quantitative and qualitative sustainability disclosures. It also says that the IIRC provides the integrated reporting framework that connects sustainability to reporting on financial and other capitals.
The intent of the collaboration is to provide:
Guidance on how their ‘frameworks and guidance can be applied in a complementary and additive way’
A joint vision of how these elements can connect to financial accounting principles and serve as a starting point for a more coherent reporting system
A joint commitment to drive towards this goal through an ongoing work programme and willingness to work collaboratively with other stakeholders