ISSB to Assess Priorities, Applicability of SASB Standards

Four potential projects have been identified – biodiversity, ecosystems and ecosystem services; human capital; human rights; and integration in reporting.

The International Sustainability Standards Board (ISSB) will be seeking feedback on its priorities for the next two years, with a 120-day comment period beginning in May 2023.

The ISSB has identified four potential projects based on investor needs: biodiversity, ecosystems and ecosystem services; human capital; human rights; and integration in reporting.

The ISSB will balance these new projects with its previously agreed activities and plans to release Standards S1 and S2 by the end of June.

The ISSB will seek feedback on the relative priority of potential projects and the strategic direction of its activities, as well as criteria for project prioritisation.

Additionally, the ISSB plans to revise the SASB standards to make them internationally applicable and will open a 90-day consultation on the proposed methodology in May. Approximately 20% of the metrics included in the SASB standards will be affected.

It said the SASB standards will serve as a source of guidance for companies to identify sustainability-related risks and opportunities and associated disclosures when applying IFRS S1 to report on topics beyond climate.

As the ISSB seeks feedback on its future priorities and revises the SASB standards for international applicability, it aims to enhance the sustainability reporting landscape.

The ISSB’s efforts will enable companies to identify and report sustainability-related risks and opportunities, providing investors with information necessary for making informed decisions.

Read more articles like this on Regulation Asia’s sister publication, ESG Investor.

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