To help resolve issues that have come up around its formation and to keep too much FUD (fear, uncertainty and doubt) from spreading, the "PHP-FIG" (framework interoperability group) has put together a site and a FAQ describing what they're all about.
The FIG stands for Framework Interoperability Group. The name until recently was “PHP Standards Group” but this was somewhat inaccurate of the intentions of the group. [...] The idea behind the group is for project representatives to talk about the commonalities between our projects and find ways we can work together. Our main audience is each other, but we’re very aware that the rest of the PHP community is watching.
The FAQ answers other questions about the standards the group has agreed on (passed) so far, who the members of the group are, how to get involved and how framework communities can get involved.