The International Sustainability Standards Board (ISSB) has agreed that SASB Standards enhancement will be a priority as part of its work plan for the next two years.
The industry-based SASB Standards continue to be used as a cost-effective way of providing decision-useful information to investors.
Companies applying IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information are required to consider the SASB Standards to identify their sustainability-related risks and opportunities and provide appropriate disclosures for topics beyond climate. Given this important role for the SASB Standards, enhancing the SASB Standards is a focussed and proportionate way to support the implementation of IFRS S1.
Informed by its recent consultation on future priorities, the ISSB will also commence projects to research the provision of information about risks and opportunities associated with biodiversity, ecosystems and ecosystem services, and human capital.
As with the approach to the ISSB’s inaugural Standards, the ISSB will look at how it might build from relevant pre-existing initiatives. This includes those already under its purview—the SASB Standards and CDSB guidance—as well as relevant aspects of the work of the Task Force on Nature-related Financial Disclosures (TNFD).
To find out more about the ISSB’s new research projects, click here.