SwissHoldings, the Swiss Federation of Industrial and Services Groups in Switzerland, represents 59 Swiss groups, including most of the country’s major industrial and commercial enterprises. We very much welcome the opportunity to provide comments on the consultation paper regarding Sustainability Reporting.
ESG-related disclosures have gained significant importance in the past few years. The current situation with a wide variety of demands of sustainability related information and a large number of optional metrics, standards, indexes and reporting frameworks has become an increasing challenge for reporting entities with growing administrative costs as a result.
In our opinion, the IFRS Foundation should play a lead role in the standard-setting efforts, acknowledging the importance of materiality and building on the main sustainability frameworks and standards that already exist. The introduction of a widely accepted ESG reporting framework would significantly reduce the complexity and improve comparability across ESG reporting.
See detailed response with appendix [pdf]