PRESS RELEASE - Representatives of EFRAG and the Japanese Accounting and Sustainability Boards Hold Meetings in Brussels

​Regarding sustainability reporting, meeting participants provided updates on their respective activities and exchanged views on items of mutual interest, including alignment and interoperability with IFRS Sustainability Disclosure Standards (ISSB Standards.)

Regarding financial reporting, meeting participants provided updates on their respective activities and exchanged views on the International Accounting Standards Board (IASB)'s IFRS accounting projects in which both parties have an interest, including climate-related and other uncertainties in the Financial Statements, power purchase agreements and post-implementation reviews of IFRS 9, IFRS 15 and IFRS 16.EFRAG and the Japanese Boards plan to continue to exchange views on a regular basis.

Patrick de Cambourg, Chair of the EFRAG Sustainability Reporting Board, said:

"Our discussions with the Japanese Boards have been insightful and constructive, emphasising the importance of interoperability with ISSB Standards in sustainability reporting. This collaboration marks a significant step forward in enhancing global reporting standards."

Wolf Klinz, Chair of the EFRAG Financial Reporting Board, said:

"The exchange of updates and views on IFRS accounting projects with the Japanese Boards has been very valuable. Addressing climate-related uncertainties and enhancing financial reporting standards are crucial for ensuring transparency and accountability in the global financial landscape."

Yasunobu Kawanishi, Chair of both the ASBJ and the SSBJ, said:

"I would like to thank EFRAG for hosting this meeting in Brussels. I found this meeting very meaningful to deepen our understanding of our respective activities concerning both accounting standards and sustainability disclosure standards. We look forward to continuing this productive dialogue with EFRAG."

Download the press release.