The Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting,
Recalling the outcome of the sixteenth session of the United Nations Conference on Trade and Development, as articulated in the Geneva Consensus, to continue to support member States, by means of its three pillars, on sustainable investment, notably through the harmonization of sustainability standards by the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting,
Recalling also the outcome of the fourth International Conference on Financing for Development, as formulated in the Sevilla Commitment, to provide capacity-building on sustainability reporting to support developing countries, including through the international standards of accounting and reporting,
Highlighting the role of high-quality financial and sustainability disclosures in sound resource allocation and sustainable investment flows towards entities in the private and public sectors,
Welcoming progress achieved during the intersessional period towards the further harmonization of sustainability reporting requirements for entities in the private and public sectors,
Reiterating the urgency of the need for member States, particularly developing countries, to build regulatory, institutional and human capacity to support the effective implementation of sustainability reporting requirements,
- Expresses its satisfaction with the analysis done by the UNCTAD secretariat during the intersessional period to review developments in the harmonization of sustainability reporting requirements and their practical implementation (TD/B/C.II/ISAR/113);
- Calls upon the UNCTAD secretariat to continue to follow developments in sustainability reporting requirements and act as a channel for the views and positions of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting;
- Commends the UNCTAD secretariat for the support provided during the intersessional period through established regional partnerships for the promotion of sustainability and Sustainable Development Goals-related reporting;
- Encourages the UNCTAD secretariat to continue its cooperation with relevant United Nations agencies and other institutions on sustainability reporting in general and on measuring the contribution of the private sector to the achievement of the Sustainable Development Goals in particular.
- Requests the UNCTAD secretariat to conduct research and review advancements regarding the measurement and recognition of the financial impacts of sustainability issues;