COP28: Advancing corporate disclosure for climate action

It's a pivotal moment for sustainability and climate disclosure, offering transformative improvements and capacity building on environmental data. Historical developments like ISSB IFRS S1 and IFRS S2, European Sustainability Reporting Standards, and the upcoming US SEC disclosure are shaping the future, providing reliable information on ESG factors. On December 3, IFC participated in an event of our strategic partners CDP and ISSB, discussing how building capacity in emerging markets on climate disclosure is critical to facilitate sustainable finance.

🌍 IFC Shaping Sustainable Futures in Emerging Markets

🌿 Since 2017, IFC has been a driving force in emerging markets' sustainability landscape. Our Beyond the Balance Sheet Disclosure and Transparency program and TCFD program have led the way,  by providing tailored solutions for companies, regulators, and stock exchanges.

📈 Urgent Call for Enhanced Sustainability Reporting IFC emphasizes the critical need to enhance sustainability reporting in emerging markets. Advocating for capacity-building and global collaboration, our goal is to facilitate a gradual transition to higher disclosure standards over the next 2 to 3 years.

🌐 Three Decades of ESG Leadership IFC has been a pioneer in evolving the ESG landscape in emerging markets and beyond for three decades. Our commitment to developing ESG standards has shaped the industry and continues to lead the way.

🔧 Foundation of Sustainability Reporting IFC's Beyond the Balance Sheet Disclosure and Transparency Toolkit and Program are the cornerstones of our sustainability reporting approach. Equipping markets and companies to enhance sustainability and climate reporting in emerging markets.

🤝 Capacity Building for Sustainable Impact IFC collaborates with ISSB, CDP, and UN Sustainable Stock Exchanges Initiatives to build capacity and support sustainability and climate disclosures. At COP, an IFRS Sustainability Disclosure Standards training program jointly with UNSSE and ISSB will be launched. It builds on the successful TCFD training program delivered by UNSSE, CDP and IFC to over 23,000 participants in over 100 markets.

💡 Crucial Role of Disclosure in Sustainable Finance IFC highlights the pivotal role of disclosure in accelerating sustainable finance in emerging markets. Collaborating with regulators through SBFN, we work to enhance ESG and climate policies, achieving success stories like $2.1 billion green bond issuance in 2022.

Check CDP events and live stream at COP 28 here