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With its initial climate-focused reporting standards due to be released later this year, the International Sustainability Standards Board (ISSB) is launching a consultation on its agenda for the next couple of years.

The ISSB is seeking feedback on its strategic direction and priorities for its next two-year work plan and future projects.

Citing its research on the information needs of investors, shortcomings in existing corporate disclosures, and the pervasiveness of certain issues, the ISSB pointed to several potential areas of future work. These include sustainability-related research projects focused on biodiversity, ecosystems and ecosystem services; human capital; and human rights.

In particular, it noted that the Network for Greening the Financial System has identified biodiversity loss as a significant threat to financial stability.

“Disclosure on biodiversity, ecosystems and ecosystem services would enhance transparency around corporate activities that affect [biodiversity], which could be useful information for investors in assessing financial value creation,” it said.

Additionally, disclosure on a variety of human capital issues, such as worker treatment; diversity, equity and inclusion; and workforce investment “could unleash potential and highlight risks in areas such as innovation, productivity gains and [greenhouse gas] emissions reduction,” it said.

Finally, the ISSB suggested it could undertake a project to examine “if and how the ways in which the value a company creates for itself is inextricably linked to the value it creates for other stakeholders, society and the natural environment.”

Given the size of the potential projects, which would limit the progress made in two years, “the ISSB is seeking views on the relative priority of activities to determine potential trade-offs,” it noted in the consultation.

In the meantime, the ISSB said it’s on track to issue its first set of proposed climate standards in June, “providing a solution to the currently fragmented landscape of sustainability-related initiatives, so that investors receive sustainability-related disclosures that are consistent, comparable and reliable.”

The ISSB also noted it’s committed to balancing new projects with ensuring that its climate standards are implemented effectively.