On 3 November 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.
On 31 March 2022, the ISSB published exposure draft climate and general sustainability reporting standards for consultation until 29 July 2022. Once finalised, these will constitute IFRS Sustainability Disclosure Standards.
- The ISSB also published:
- A high-level summary of the requirements
- A document comparing the TCFD’s recommendations to the Exposure Draft on climate-related disclosures
- A document comparing the Exposure Drafts with the Technical Readiness Working Group (TRWG) Climate and General Requirements Prototypes published in November 2021
- Illustrative guidance documents on the climate and general requirements exposure drafts
The PRI has previously provided views and recommendations on international sustainability reporting standard setting through consultation responses and public statements, and has issued a draft position paper on the TRWG Prototypes.
Under PRI’s Driving Meaningful Data program, we will work with our signatories to engage and provide feedback on the exposure drafts. This will include:
- A consolidated PRI consultation response reflecting signatories’ views and PRI’s own research – a draft consultation response will be shared with all signatories for feedback
- Comments and questions can be addressed through the collaboration platform workstreams on each exposure draft consultation (general and climate)
- A joint PRI-ISSB webinar to explain the exposure drafts and their implications for responsible investors – this will be held on May 19th, and registrations for the event are now open
- Technical discussions as part of PRI’s Corporate Reporting Reference Group – if you are interested in joining this group, please visit our call for applications page for details on the application process
- A signatory briefing note summarising the ISSB’s proposed requirements
For any queries about our work and engagement in this area, please contact firstname.lastname@example.org.
19 May 2022 | Online