You will find here a series of summaries providing an overview of useful sustainability regulations, processes and sustainability issues for Doing Business in Thailand.
First ISSB decisions on future IFRS S1 and IFRS S2 sustainability standards
In October, the International Sustainability Standards Board (ISSB) met in Montreal to begin redeliberations on the content of the future standards IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 – Climate-related Disclosures, following a public consultation on the two draft standards which finished at the end of July.
IFRS Sustainability Disclosure Standards: ISSB reviews comments received and plans redeliberations
At its September meeting, the International Sustainability Standards Board (ISSB) reviewed a summary of the comment letters (available here) that it received in the public consultation on the draft standards IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 – Climate-related Disclosures, for which the comment period closed at the end of July 2022.
Update on Sustainability – September 2022
The comment period for EFRAG’s public consultation on its first set of 13 draft European Sustainability Reporting Standards (ESRSs) closed on 8 August. EFRAG’s Sustainability Reporting Board, supported by its Technical Expert Group, now has to analyse the more than 750 responses received in order to submit the final version of its draft standards to the European Commission by next November.
ISSB reaches full complement of members
During July and August, the IFRS Foundation continued with the recruitment process for the International Sustainability Standards Board (ISSB), and made the following announcements.
European Council and Parliament finalise political compromise on the Corporate Sustainability Reporting Directive (CSRD)
On 21 June 2022, the Council and the Parliament of the European Union announced that they had reached agreement on an amended version of the draft CSDR issued in April 2021.
New appointments make ISSB quorate
Since the formation of the International Sustainability Standards Board (ISSB) and the appointment of Emmanuel Faber as Chair and Sue Lloyd as Vice-Chair, the IFRS Foundations has been busy recruiting other Board members, with the final number set to be fourteen.
ISSB and EFRAG draft standards on sustainability disclosures: a comparative analysis
In recent months, work on the standardisation of sustainability reporting has accelerated, requiring stakeholders to invest significant resources in understanding the proposals and their potential impacts.
ISSB creates working group to enhance compatibility of sustainability disclosure standards
On 27 April 2022, the International Sustainability Standards Board (ISSB) announced the creation of a working group comprising representatives of different jurisdictions, to establish a dialogue to enhance compatibility between the proposed IFRS Sustainability Disclosure Standards and jurisdictional initiatives (particularly in Europe and the United States). The ISSB’s goal is to establish a global baseline of recognised international standards, used across the world, in order to meet users’ needs.
Two new reports published by Platform on Sustainable Finance
The Platform on Sustainable Finance, which advises the European Commission on the EU taxonomy for sustainable activities, published two final reports at the end of March 2022. The reports, which are available here, have been eagerly awaited by economic and financial organisations.
Sustainability reporting: EFRAG and ISSB finalise governance structures, and first public consultations are launched
March 2022 has been a busy month on both the governance front and the technical front for sustainability standard-setters in Europe and worldwide.