International Financial Reporting Standards Foundation

The International Financial Reporting Standards (IFRS) Foundation is a non-profit organization established in 2001 responsible for developing globally accepted standards for financial reporting and promoting their adoption. It develops high-quality, understandable, and enforceable standards to promote transparency, accountability, and efficiency in global financial markets. The IFRS foundation also issued a new set of disclosure requirements designed to provide investors with clear and transparent information on a company's sustainability and climate-related risks. The IFRS works with organizations like the UN Development Programme (UNDP) and the Global Reporting Initiative (GRI).