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The ISSB Journey keeps evolving

The International Sustainability Standards Board (ISSB) has undergone a remarkable journey, emerging as a globally recognized and respected standard-setter since its establishment in 2021. Introducing two key disclosure standards, namely IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, marked a significant milestone. However, questions have arisen regarding the applicability of certain disclosure requirements, prompting the formation of the Transition Implementation Group on IFRS S1 and IFRS S2.

This group facilitates discussions on how specific requirements can be appropriately applied. Following a consultation on Agenda Priority in September 2023, the ISSB has been grappling with strategic direction and activity balance for the forthcoming years. In response, in March 2024, the ISSB outlined its work plan for the next two years, tentatively encompassing six initiatives, including initiating new research and enhancing the SASB Standard. Notably, the ISSB prioritizes supporting the implementation of IFRS S1 and IFRS S2.

However, it has not specified a level of focus on connectivity, interoperability, and stakeholder engagement, recognizing these activities' integral nature to all ISSB endeavors. Meanwhile, all 14 ISSB members have endorsed these decisions. Additionally, in efforts to promote clear communication, the ISSB has launched meeting  podcast pages on its website, providing detailed insights into discussions. We encourage readers to consult these podcasts or visit ISSB Consultation on Agenda Priorities to stay updated with the happenings of ISSB.


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