The International Sustainability Standards Board (ISSB) has today launched a consultation on its first two proposed standards:
These consultations are in the form of exposure drafts which stakeholders can respond to.
The creation of the ISSB was announced on 3 November 2021 at COP26 following the increased desire from stakeholders for high quality, transparent, reliable and comparable reporting by companies on climate and other environmental, social and governance matters.
The proposed standards 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. IFRS Sustainability Disclosure Standards are intended to provide a global baseline and to be compatible with jurisdiction-specific requirements, including those intended to meet broader stakeholder information needs.
The ISSB are inviting comments to the consultations by 29 July 2022.