The Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting,
Underlining the positive role that enterprises play in achieving the Sustainable Development Goals,
Acknowledging that reliable accounting and reporting on the financial and sustainability reporting of firms can facilitate directing investment towards economic activities that contribute towards the attainment of the Sustainable Development Goals,
Noting with concern the negative impact that the coronavirus disease (COVID-19) pandemic has had on progress towards realizing the 2030 Agenda for Sustainable Development,
Welcoming the establishment of the International Sustainability Standards Board under the umbrella of the International Financial Reporting Standards Foundation,
Taking note of recent policy decisions in a number of jurisdictions to develop and promote more consistent regulatory frameworks and standards to support reliable and comparable corporate sustainability reporting, notably to support their sustainable development policies,
Emphasizing the need for further measures to be taken at the jurisdictional level, particularly in developing countries, with respect to regulatory, institutional and human capacity needs, to support the implementation of sustainability reporting standards developed at the global level,
Recalling the UNCTAD mandate to advance its work on international standards of accounting and reporting, as articulated in the Bridgetown Covenant,
- Expresses its satisfaction with the work conducted by the UNCTAD secretariat during the intersessional period on Goals-related reporting, including as reported in document TD/B/C.II/ISAR/97; commends the analysis of the main findings from the case studies conducted to date on pilot testing of the Guidance on Core Indicators for Entity Reporting on Contribution towards Implementation of the Sustainable Development Goals; and welcomes the refinements to some of the indicators proposed by the consultative group;
- Acknowledges the positive impact of the Guidance on Core Indicators in overcoming fragmentation and promoting harmonization of reporting frameworks and standards on sustainability issues in alignment with the 2030 Agenda;
- Notes with appreciation the development of capacity-building activities to facilitate wider use of the Guidance on Core Indicators, including through the development of support to facilitate wider awareness, dissemination and implementation of the guidance; and requests the UNCTAD secretariat to, in line with the Bridgetown Covenant, further identify, promote and support domestic policies in this regard;
- Requests the UNCTAD secretariat to closely follow the work of the International Sustainability Standards Board and act as a channel to convey to the Board the views and positions of the Intergovernmental Working Group of Experts on sustainability reporting issues; and, in this regard, calls on the UNCTAD secretariat to establish a consultative group to support this process;
- Encourages the UNCTAD secretariat to continue its cooperation with relevant United Nations agencies, as well as with key regional and international institutions, on strengthening policies for sustainability reporting, in general, and on measuring and collecting timely and reliable data on the private sector contribution towards the implementation of the Sustainable Development Goals, in particular;
- Calls upon the UNCTAD secretariat to continue to support regional efforts and partnerships, in particular among developing countries, aimed at promoting a common approach to sustainability reporting and addressing practical implementation aspects pertaining to policymaking, regulation and institutional and human capacity-building, in alignment with the Accounting Development Tool.
