India, December 26, 2022: Koushik Chatterjee, Executive Director & Chief Financial Officer, Tata Steel has been appointed as one of the six new Trustees of the IFRS Foundation for a 3-year term beginning January 1, 2023. He has also been appointed as a member of the Advisory Board of the UN Global Compact CFO Coalition for the Sustainable Development Goals (SDGs), where he will be the sector lead for Industrial Goods and represent the Asia-Pacific geography.
The IFRS Foundation is responsible for development of disclosure standards through the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB). The Foundation Trustees drive strategy, governance and oversight and the new appointments reflect a greater emphasis on sustainability standard-setting.
The CFO Coalition for the SDGs is geared towards increasing private sector participation in the initiative by incorporating the SDGs into corporate finance and create a $10 trillion market for SDG-directed finance by 2030. The advisory board provides industry and geographical expertise, guides strategy and drives greater membership of the coalition.
Koushik Chatterjee, Executive Director & Chief Financial Officer, Tata Steel, is also a member of the Task Forces on Climate related Financial Disclosures (TCFD) and Nature Related Financial Disclosures (TNFD). He said: “It’s a privilege to join the IFRS foundation as Trustee from the new year, at a time when we are readying to globally bring in a new integrated future of financial and sustainability reporting, in line with expectations of investors, regulators, communities, and stakeholders. I am also happy to join the Advisory Board of the UNGC CFO Coalition for the SDGs which hopes to embed SDGs in capital investment and strategic decisions in corporations. I look forward to working with other members to drive our ambitious initiatives while contextualising them for sector and geographical perspectives. Sustainable Financing, effective and transparent reporting and disclosures will help corporations to accelerate the transition to a more sustainable long-term future”.
