Norway’s SWF Supports ISSB on Enterprise Value-led Reporting

The world’s largest sovereign wealth fund, Norwegian Government Pension Fund Global, has backed the enterprise value-led approach of the International Sustainability Standards Board and its exposure drafts on general requirements and climate-related disclosures. Responding to a consultation, Norges Bank Investment Bank, which runs the fund, said it hoped that the ISSB’s standards would become the reference for reporting financially material sustainability information, used “as a core” to which further topic-, region- or viewpoint-specific requirements could be added. It also said the General Requirements Exposure Draft’s proposal for companies to explain connections between financial and sustainability reporting would “help investors get a complete picture when assessing a company’s value”.

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