Roadmap development tool for adopting ISSB Standards
The objective of the roadmap development tool is to help jurisdictions navigate the main
considerations and decision points that are likely to arise as they develop a detailed
project plan for adopting or otherwise using ISSB Standards—often referred to as a
roadmap.
The roadmap development tool and the accompanying reference roadmap templates will
support regulators and other relevant authorities as they work through the policy
considerations and key steps of:
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planning and designing their roadmap for the adoption or other use of ISSB Standards; and
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assessing the implications of alternative decisions and approaches.
Access the video here.
Advantages of using an adoption roadmap
Developing and communicating a detailed jurisdictional roadmap can be a valuable step
in a jurisdiction’s journey to adopt or otherwise use ISSB Standards. Developing a
roadmap involves setting clear objectives and identifying crucial milestones in the
process. These objectives and milestones allow a jurisdiction to assign
responsibilities, measure its progress towards adoption or other use of ISSB
Standards and ensure that all responsible parties are held accountable for this
progress. Developing a roadmap, and discussing it with stakeholders, can also help a
jurisdiction to identify dependencies in the sustainability reporting ecosystem, and
the resources and expertise necessary for successful adoption. Furthermore, by
publishing a roadmap, a jurisdiction can enable entities potentially within the
scope of planned requirements to begin to plan and design their implementation
programmes, enabling them to make progress while the regulatory framework is being
developed.
Roadmap Development Tool
The roadmap development tool is designed to help regulators and other relevant
authorities work through the process systematically to promote cost-effective
disclosures that provide comparable sustainability-related financial information for
investors.
The tool is also designed to reflect that jurisdictions’ legal and regulatory
frameworks vary, which along with capacity, skills, data and institutional factors,
might lead to differences in jurisdictional approaches. The tool—used in combination
with a set of roadmap templates—will therefore assist regulators and other
relevant authorities in assessing:
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what the implications of their decisions will be;
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how well their jurisdictional approach will achieve their stated objectives;
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how well their jurisdictional approach will be understood by capital market participants and other stakeholders; and
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how the IFRS Foundation will describe their jurisdictional approach in an IFRS Foundation jurisdictional profile.
Access the video here.
A roadmap will need to capture a jurisdiction’s decisions in respect of the how,
who, what and when questions that arise as it develops its jurisdictional
approach. The 11 features of jurisdictional approaches, introduced in the
Jurisdictional Guide, span these four decision areas—acknowledging
interdependencies between them. In the roadmap development tool, the 11 features of
jurisdictional approaches and the decision points relevant to them are grouped under
four decision areas:
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Regulatory process (how?)—establishing the legal or regulatory conditions and process for adopting or otherwise using ISSB Standards, including the mechanisms for coordination among the relevant authorities and stakeholders within the jurisdiction;
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Reporting entities (who?)—determining which entities will be subject to the sustainability-related disclosure requirements in order to achieve the jurisdiction’s objectives;
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Requirements (what?)—specifying the content of sustainability-related disclosures, and considering the implications of any additional jurisdiction-specific requirements, and the location and timing of reporting; and
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Readiness (when?)—assessing market readiness and setting a timeline for the introduction of the sustainability-related disclosure requirements and considering whether it is necessary to scale and phase in these requirements.
Access the video here.
Access the complete update here.