The International Sustainability Standards Board (ISSB) issued its inaugural standards—IFRS S1 and IFRS S2—on 26 June 2023. The Standards have ushered in a new era of sustainability-related financial disclosures in capital markets worldwide. The Standards will help to improve trust and confidence in company disclosures about sustainability to inform investment decisions.
The Standards create, for the first time, a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects.
Over time we will be creating a library of resources to help companies apply ISSB Standards.
In applying IFRS S1 companies are required to consider the SASB Standards to identify risks and opportunities. SASB Standards are available to download. For guidance on how to use SASB Standards
Companies may refer to and consider the applicability of:
•the CDSB Framework Application Guidance for Water-related Disclosures and the CDSB Framework Application Guidance for Biodiversity-related Disclosures (collectively referred to as ‘CDSB Framework Application Guidance’)
•the most recent pronouncements of other standard‑setting bodies whose requirements are designed to meet the information needs of users of general purpose financial reports
•the sustainability-related risks and opportunities identified by entities that operate in the same industry(s) or geographical region(s).
https://www.ifrs.org/supporting-implementation/supporting-materials-for-ifrs-sustainability-disclosure-standards/