World Accounting Report
Editorial
A number of organisations set corporate reporting standards or guidelines related to ESG issues. These bodies have been referred
to as an alphabet soup of acronyms: the Task Force on Climate-related Finance Disclosures (TCFD), Sustainability Accounting
Standards Board (SASB), the Carbon Disclosure Standards Board (CDSB), the International Integrated Reporting Council (IIRC)
and the Global Reporting Initiative (GRI). The process of rationalizing this confusion is, however, underway. By way of the
first step towards consolidation, the CDSB and IIRC joined forces in 2021 to form the Value Reporting Foundation (VRF), which
is now being absorbed into the IFRS Foundation.