ABA urges ISSB to integrate digital taxonomy efforts into climate implementation

Efforts by the International Sustainability Standards Board to define how corporate climate and sustainability data will be digitally analyzed should be integrated into existing efforts by the board, as opposed to being separately addressed, the American Bankers Association said this week in comments to the ISSB. The board in June issued a proposed taxonomy to give investors and jurisdictional authorities access to companies’ sustainability-related financial information in a digital format.

In its comments, ABA said it supports efforts to develop a reporting taxonomy but believes that more discussion among stakeholders is needed before an effective and generally accepted taxonomy can be finalized. Such groups should include not only investors and preparers, but also regulators, rating agencies and data aggregators, the association said.