The International Sustainability Standards Board (ISSB) under the IFRS Foundation last year released IFRS S1 and IFRS S2, representing a step toward the organization’s goal of achieving a comprehensive global baseline of sustainability disclosures. But implementing such a global baseline effectively goes beyond simply setting standards – it requires a new set of capabilities, infrastructure, knowledge, and talent in economies around the world.

New sustainability reporting requirements in jurisdictions around the world have resulted in the need for companies to take stock of their own capacity to produce high quality sustainability disclosures, as well as the capacity of players in their value chains who will provide inputs to their reporting. In this episode, Heather Horn sat down with Mardi McBrien, Chief of Strategic Affairs & Capacity Building at the IFRS Foundation, to discuss how the IFRS Foundation has been working to build capacity, and how companies can best navigate the overall sustainability reporting environment moving forward.

In this episode, you’ll hear:

• 2:31 - A refresher on capacity building and its importance in sustainability reporting
• 4:38 - A discussion of the need for upskilling in various sectors to meet global sustainability reporting standards
• 8:43 - An overview of the drivers of the IFRS Foundation’s focus on capacity building
• 17:14 - Advice on implementing new business processes and enhancing communication with suppliers to prepare for new disclosure standards
• 21:33 - A discussion of the progress made in capacity building and the role of the IFRS Foundation’s partners in this process
• 29:00 - An overview of the IFRS Foundation’s “three pillar approach” for capacity building
• 35:19 - Where listeners can go to understand where the ISSB is headed with standard setting and what is next for companies preparing to report

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Mardi McBrien is the Chief of Strategic Affairs & Capacity Building at the IFRS Foundation responsible for sustainability reporting. In this role she has played an active part in setting up the ISSB. Prior to the IFRS Foundation, Mardi spent over a decade leading the global ESG standard setter, the Climate Disclosure Standards Board (CDSB), in developing quality disclosure standards and thought leadership on environmental and social issues.

Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.