Sustainable Development

Sustainable Development and ESG

The scope of sustainable development is broader than ESG. It is a blueprint for achieving global development and involves resource balance within and between generations. The United Nations has published 17 Sustainable Development Goals to encourage activities. 

Both sustainable development and ESG involve environmental and social aspects, but ESG has been directly related to enterprises and is a standard for measuring financial, environmental and social performance. Sustainable development favors all global stakeholders.

Sustainable Disclosures

Sustainable disclosure is a core concern for global regulators in ESG development. Currently, IFRS S1 and IFRS S2 issued by the International Sustainable Development Standards Committee have become the basis for designating sustainable information disclosure policies in multiple jurisdictions worldwide.

Sustainable disclosure is primarily based on climate change, as climate change is a material issue in environmental factors. Subsequent regulators will formulate policies for areas such as biodiversity, water and supply chain.

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