Shaping the Future of Sustainability Reporting: ISSB Seeks Stakeholder Feedback and Enhances SASB Standards

The International Sustainability Standards Board (ISSB) has recently issued its first Request for Information (RFI) on May 4, 2023. The purpose of this Request for Information (RFI) is to gather input and shape the ISSB’s work plan for the next two years. The ISSB is currently seeking feedback on its priorities during this period. You can find more information about the consultation and provide your feedback on the ISSB’s priorities by visiting their website at: IFRS – Consultation now open: The ISSB seeks feedback on its priorities for the next two years.
Four potential projects have been identified: biodiversity, human capital, human rights, and integration in reporting. The ISSB aims to balance new projects with implementing sustainability-related disclosures. In June 2023, they will issue IFRS S1 and S2, addressing general requirements and climate-related disclosures. Stakeholders‘ feedback will shape the ISSB’s work plan and approach to future projects.

On May 11, 2023, the ISSB released an exposure draft regarding the international applicability of SASB Standards. This draft aims to gather feedback on a focused methodology for updating references to jurisdiction-specific laws and regulations in the SASB Standards. The goal is to enhance the international applicability of these standards. To learn more about this consultation and contribute your feedback, you can visit the following link: Consultation to enhance the international applicability of the SASB Standards now open.
These standards are essential for companies to identify sustainability-related risks and opportunities beyond climate disclosure. The ISSB aims to incorporate the outcomes of the consultation into the revised SASB Standards before the implementation of IFRS S1 in January 2024. The SASB Standards are already widely adopted globally, with over 2,700 companies in 70 jurisdictions, including 72% of the S&P Global 1200 Index, applying them. The ISSB is committed to maintaining and enhancing the SASB Standards to support companies in delivering industry-based sustainability disclosures that are comparable and decision-useful for investors.IFRS