ISSB Issues Exposure Drafts on General Requirements of Sustainability Reporting and Climate-Related Disclosures

The International Sustainability Standards Board (ISSB) has issued two exposure drafts (EDs): ED/2022/S1, General Requirements for Disclosure of Sustainability-related Financial Information, and ED/2022/S2, Climate-related Disclosures. The EDs would provide “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.” Comments on both EDs are due by July 29, 2022.

In conjunction with the issuance of the two EDs, the ISSB also released a statement on its “plans for building upon the SASB Standards and for embedding SASB’s industry-based standards development approach into the ISSB’s standards development process.” Topics addressed in the statement include the industry-based approach to standards development, the inclusion of SASB standards in the EDs, the commitment to improving the international applicability of SASB standards, the starting point for ISSB industry-based requirements, and current SASB projects.

For more information about the EDs, see the press release on the IFRS Foundation’s Web site.