ISSB priorities for the coming months
At its October meeting, the ISSB also discussed its priorities for the coming months. In view of the need to finalise IFRS S1 and S2 as quickly as possible, and the importance of these two standards which will form the bedrock of the IFRS sustainability disclosure framework, the ISSB has decided to postpone the launch of the public consultation on its two-year work plan until the first half of 2023 (rather than the fourth quarter of 2022 as originally planned).
Keywords: Mazars, Thailand, Sustainability, ISSB, IFRS, SASB, IASB
22 December 2022
The ISSB has also tentatively decided that its main work will involve:
- improving the international applicability of the industry-specific SASB Standards and continuing legacy SASB projects;
- developing the taxonomy for digital IFRS sustainability reporting;
- coordinating with the IASB and other sustainability-reporting standard-setting bodies to support connectivity and interoperability; and
- continuing with research and stakeholders outreach to identify targeted improvements to the draft IFRS S2, once finalised.
The ISSB will continue with further intensive redeliberations in November, and has additional meetings already in the calendar. In addition to the frequently-expressed need for an international framework of sustainability disclosure standards to be available as soon as possible (see for example the G20 statement published in mid-October and available here), there are pressures on the standard-setter from the European side, if alignment between IFRSs and ESRSs is to be achieved. Currently, the ISSB is still aiming to publish IFRS S1 and IFRS S2 as early as possible in 2023
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