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Event Programme

About the event

The IFRS Foundation has launched a public consultation on a global approach to sustainability reporting and on the possible role of the Foundation. They have published a consultation paperStandardisation and comparability of reporting are critical for capital markets, but also for (empirical) research in accounting, law, finance, economics and related disciplines on sustainability.

The European Corporate Governance Institute (ECGI) and the Impact Economy Foundation organised a workshop to discuss the consultation document. The workshop began with an economic analysis of sustainability reporting. The economic consequences, such as capital market effects and real effects in firm behaviour, was highlighted. Next, the workshop reviewed examples of companies that are already providing sustainability reporting on a voluntary basis, and asked what are the benefits and costs?

The workshop then moved to panel discussions centred on the consultation questions. High-level policy makers, academics and practitioners discussed the consultation questions. The key issues included: standardisation; mandatory vs voluntary reporting; climate change only or other environmental topics such as biodiversity loss also; and single materiality (impact on company's financial value) or double materiality (impact on financial value as well as impact of company on social and environmental value). The workshop delivered new insights to the IFRS Foundation on these issues as well as inspiration to academics to pursue research in this emerging area, with sustainability now high on the agenda of governments and companies.

Useful links:

IFRS Consultation document: 

All Public Responses to the Consultation:

Joint statement of support from the UK government and financial regulators:

Hans Christensen, Luzi Hail, Christian Leuz (2019) Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review

Commentary from BlackRock:

Submission by Federated Hermes

Open letter from Professors at Saïd Business School, University of Oxford:

Article by Bob Eccles & Tim Mohin: We mustn’t miss this crucial moment to create a global Sustainability Standards Board

Article by Richard Barker and Bob Eccles: Investors need to get behind materiality

Article by Bob Eccles and Michael Krzus:

Article by Janine Guillot, CEO, SASB:

Harvard Business Review article “The Future of ESG Is…Accounting?” by Richard Barker, George Serafeim and Bob Eccles

Submission from the UK Financial Conduct Authority:

Statement from Deloitte:

Article by Teresa Ko (IFRS Trustee):

Article by Integrated Reporting:

ESMA response to the IFRS Consultation (16 Dec 2020)



Friday 4 December 2020 | 14:30 CET


Stakeholder Panels






Christian Leuz

Charles F. Pohl Distinguished Service Professor of Accounting and Finance
The University of Chicago - Booth School of Business
Fellow, Research Member

Lucrezia Reichlin

Professor of Economics
London Business School, Centre for Corporate Governance
Research Member


Elaine McPartlan
European Corporate Governance Institute (ECGI)
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