Industry-based requirements

Appendix B of the draft IFRS S2 standard comprised industry-based requirements derived from standards developed by the Sustainability Accounting Standards Board (SASB).

Keywords: Mazars, Thailand, Sustainability, ISSB, IFRS, Industry, Sustainability Accounting Standards Board (SASB).

22 December 2022

The ISSB tentatively decided to confirm the requirement for entities to present industry-specific disclosures, but is currently classifying the SASB standards as illustrative examples. In other words, and contrary to what was proposed in the exposure draft, these standards will not be mandatory, at least initially. The ISSB will carry out additional consultation to identify what amendments to make to these standards with a view to making them mandatory in the future, as they were heavily criticised in the initial consultation (as despite some tweaks that have already been made, these industry-based standards are still lacking in applicability outside the US).