In 2021 the IFRS Foundation Trustees announced the creation of the ISSB at COP26 in Glasgow. The Board aims to deliver a global baseline of sustainability-related financial disclosure standards to provide global financial markets with information on companies’ sustainability risks and opportunities, building on established sustainability reporting initiatives.
In June 2023 the ISSB released its inaugural sustainability reporting standards:
- IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (‘IFRS S1’) – applicable to reporting on sustainability-related financial risks and opportunities for all sustainability issues
- IFRS S2 Climate-related Disclosures (‘IFRS S2’) – applicable to reporting on climate-related financial risks and opportunities
Under PRI’s Driving Meaningful Data program, we are working with our signatories to engage on ISSB standard-setting. So far this has included:
- Consultation responses and statements
- PRI consultation responses on ISSB exposure draft standards
- A public statement welcoming progress on the ISSB’s inaugural standards
- PRI response to the ISSB’s consultation on internationalising SASB Standards
- PRI response to the ISSB’s consultation on agenda priorities
- Learning materials
- A signatory briefing note summarising the ISSB’s decisions related to the first set of IFRS Sustainability Standards
- A joint PRI-ISSB-GRI webinar to explore the work of the ISSB and GSSB and its implications for responsible investors
- A signatory briefing note summarising the ISSB’s inaugural standards
- Direct institutional engagement through participation in the ISSB Technical Reference Group, the IFRS Advisory Council, the Integrated Reporting and Connectivity Council and the ISSB Partnership Framework for Capacity Building in Developing and Emerging Economies
For any queries about our work and engagement in this area, please contact [email protected].