23/08/2022 (Agence Europe) – The Association of Chartered Certified Accountants (ACCA) is calling for a global approach to the development of sustainability disclosure standards, as the European Financial Reporting Advisory Group (EFRAG) holds a public consultation. Like the European Securities and Markets Authority (ESMA) (see EUROPE 13004/19), ACCA wants EFRAG to maximise the alignment between European standards and the International Sustainability Standards Board (ISSB) global framework. However, the organisation recognises that the European Green Deal may necessitate additional requirements. “We urge EFRAG to provide clearer definition and guidance on double materiality”, said the senior manger for Corporate Reporting at ACCA, Yen-Pei Chen, in a statement on Wednesday 10 August. ACCA places particular emphasis on how to assess the materiality of impact in practice and the alignment of financial materiality with the ISSB definition. (AD)