SEC Challenges Global Sustainability Reporting Standards

Paul Atkins, head of the US financial supervision SEC, threatens with a review of how this works.

Atkins turns, among other things, against how international accounting principles focus on climate reporting instead of focusing on what investors need, according to a speech at the economic cooperation organization OECD in Paris.

The statement is made after the international foundation that develops global accounting rules, IFRS, recently created a sister body to its accounting board that will develop regulations for sustainability reporting. Among other things, Atkins says that IFRS should prioritize away "odd and speculative issues".