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The International Sustainability Standards Board (ISSB) in March 2022 launched a consultation on its first two proposed standards—one on climate and one on general sustainability-related disclosures. The proposed standards, when finalised, would form a comprehensive global baseline of sustainability-related disclosures designed to meet the information needs of investors in assessing enterprise value.

The Exposure Draft IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (General Requirements Exposure Draft) proposes overall requirements for an entity to disclose sustainability-related financial information about its significant sustainability-related risks and opportunities. The General Requirements Exposure Draft also proposes that an entity provide the market with a complete set of sustainability-related financial disclosures.

The ISSB is currently redeliberating the proposals based on feedback on the Exposure Draft collected over a 120-day consultation, which ended in July 2022.

The proposals have been developed in response to requests from G20 leaders, the International Organization of Securities Commissions (IOSCO) and others for enhanced information from companies on sustainability-related risks and opportunities. The proposals set out requirements for the disclosure of material information about a company’s significant sustainability-related risks and opportunities that is necessary for investors to assess a company’s enterprise value.

ISSB Update November 2022

The ISSB met on 15–16 November 2022 to redeliberate some of the proposals in its exposure drafts IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (draft S1) and IFRS S2 Climate-related Disclosures (draft S2).

Next milestone

IFRS Sustainability Disclosure Standard