So late last year,
the IFRS Foundation trustees published a consultation paper
to establish the Sustainability Standards Board.
It got overwhelming support from the investor community.
The corporate community is interested as well.
It will be launched at COP 26.
This is a big deal.
Imagine a world without accounting standards,
so that you couldn't compare a company's performance
with its competitors,
or over time you didn't have transparency
about its financial performance.
That's what the world was like in the United States
before the SEC was formed.
And we just take accounting standards
and financial reporting requirements for granted.
We don't have that for sustainability performance and,
thanks to the work of the IFRS Foundation
and its trustees,
we will be launching that initiative later this year
and I think what will happen from that is it will have
the same degree of transparency on comparable,
reliable, relevant information on a company's sustainability performance,
which is related to its financial performance.
So it's a little bit kind of down in the weeds topic,
it’s a bit boring, sort of plumbing infrastructure.
It's a huge deal. I'm very excited.