ISSB publishes the first global sustainability disclosure standards
Wednesday, 28 June 2023
The International Sustainability Standards Board (ISSB) announced its first standards today, IFRS S1 and IFRS S2, ushering in a new era of sustainability-related reporting in global capital markets. The Standards will help to increase trust and confidence in corporate sustainability disclosures in order to guide investment decisions.
For the first time, the Standards establish a consistent vocabulary for communicating the impact of climate-related risks and opportunities on a company's prospects.
ISSB Chair Emmanuel Faber will officially launch the Standards at the IFRS Foundation's annual conference, as well as through events hosted by stock exchanges around the world, including those in Frankfurt, Johannesburg, Lagos, London, New York, and Santiago de Chile; the ASEAN Capital Markets Forum will also host a launch event in Singapore.
About the Standards :
IFRS S1 establishes a series of disclosure standards to enable businesses to communicate with investors about the sustainability-related risks and opportunities they face in the short, medium, and long term. IFRS S2 specifies particular climate-related disclosures and is intended to be used in conjunction with IFRS S1.
Both completely integrate the Task Force on Climate-related Financial Disclosures (TCFD) guidelines.
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