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We are broadly supportive of the proposed amendments in the Exposure Draft. Specifically, the reliefs are a pragmatic approach to ease the reporting obligations of preparers in jurisdictions with different regulatory reporting requirements. This will help facilitate the implementation and global adoption of ISSB standards. Notwithstanding this, we highlighted that the order to determine which industry-classification systems to use to classify counterparties is not consistent with the general approach in the proposed amendments to allow the use of jurisdictional reliefs in order to reduce the risk of potential duplication of reporting and related costs.
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