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IFRS Accounting Standards are developed by the International Accounting Standards Board (IASB). The IASB is an independent standard-setting body within the IFRS Foundation.
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IFRS Sustainability Disclosure Standards are developed by the International Sustainability Standards Board (ISSB). The ISSB is an independent standard-setting body within the IFRS Foundation.
IFRS Sustainability Standards are developed to enhance investor-company dialogue so that investors receive decision-useful, globally comparable sustainability-related disclosures that meet their information needs. The ISSB is supported by technical staff and a range of advisory bodies.
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30 March 2023
ISSB to consider prioritisation of climate-related disclosures to support initial application
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The ISSB will hold a supplementary meeting on 4 April 2023. The paper for the meeting is now available.
At the supplementary meeting, the ISSB will discuss a further enhancement to its planned package of transitional reliefs to support companies applying its initial two Standards—S1 and S2.
The potential relief would allow companies applying the ISSB Standards to phase in their approach to sustainability-related disclosure, beginning with climate-related risks and opportunities in the first year of reporting. For companies using the proposed relief, the full reporting on sustainability-related risks and opportunities (beyond just climate) would be provided from the second year.
This would be consistent with the message the ISSB has received about climate-related disclosures being a priority, given the urgent demand from investors for consistent and comprehensive information on this topic, but also balances the need for more comprehensive reporting on sustainability-related risks and opportunities in the near term.
The ISSB remains on track to publish its initial two Standards—S1 and S2—towards the end of Q2 2023.
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