article · Pacific Accounting Review
The formation of the International Sustainability Standards Board represents a critical juncture for the future of sustainability reporting. A critical reflection on the board assesses its establishment, current operational agenda, and prospective trajectory, particularly regarding its interactions with standard setters, regulators, practitioners, and other stakeholders. Analysis of academic literature, practitioner publications, and official work plans reveals three central themes shaping the organisation's future. These comprise questions surrounding the board's geographical and conceptual jurisdiction, the persistent challenges to its legitimacy as a global agenda setter for sustainability disclosure, and the potential capture of the reporting agenda by powerful stakeholders such as capital providers. Together, these dynamics frame an extensive research agenda designed to address unresolved questions across the evolving sustainability reporting landscape.
As organisations worldwide face growing pressure to report environmental and social impacts, the standards governing these disclosures dictate corporate accountability. Understanding the institutional power dynamics and legitimacy of standard setters reveals whether reporting serves broad public and ecological interests or primarily caters to financial capital providers.
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Purpose This paper aims to critically reflect on the formation of the International Sustainability Standards Board (ISSB), its current agenda and likely future direction. The authors consider the relationships between the ISSB and other standard setters, regulators, practitioners and stakeholders, and develop a comprehensive research agenda. Design/methodology/approach The authors review and critically analyse academic and practitioner publications alongside the ISSB’s workplans to identify the themes impacting the future of the ISSB and to develop a research agenda. Findings Three key themes emerge from the authors’ analysis that are likely to influence the future of the ISSB: the jurisdiction and scope of the ISSB – how far its influence is likely to extend, both geographically and conceptually; the ongoing legitimacy challenge the ISSB is facing in terms of setting an agenda for sustainability reporting; and the “capture” of sustainability reporting by influential stakeholders including capital providers. Originality/value The formation of the ISSB is critical to the future of sustainability reporting. The authors provide a comprehensive and topical overview of the past, present and potential future of the ISSB, highlighting the need for further research and providing a research agenda that addresses outstanding questions in the field.
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DOI: 10.1108/par-02-2024-0038
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