International Sustainability Standards Board (ISSB)’s Post

The more regulated framework keep coming in a various form to tackle and address the climate change related risk in an organisation specifically and the world generally

The IFRS Foundation and EFRAG recently published material about how a company can apply both #ESRS and the #ISSB Standards. The guide provides practical support that explains how a company can efficiently comply with both sets of standards.    Section 1 of the interoperability guidance explains how both sets of standards reference the other as a relevant source of guidance.    IFRS S1 states that companies can use ESRS, to the extent it meets investor information needs, to identify what information to disclose for matters other than climate.     ESRS references the IFRS industry-based guidance – including the SASB Standards – to provide industry-specific information until ESRS sector standards are in place.    👇 Find out more below.    Access the ESRS–ISSB Standards Interoperability Guidance: https://lnkd.in/dE5KNHeZ    📺 You will be able to hear more about the interoperability guidance in an upcoming webcast. To receive updates on the webcast, sign in to your IFRS account, go to your dashboard and choose to follow 'Applying IFRS sustainability standards': https://lnkd.in/eb4WUZhS    #IFRSsustainability #ISSB #ISSBstandards #interoperability 

💡 The IFRS Foundation and EFRAG recently published material about how a company can apply both #ESRS and the #ISSB Standards. The guide provides practical support that explains how a company can efficiently comply with both sets of standards. #IFRSsustainability #ISSB #ISSBstandards #interoperability

Very important to see explanations and examples on the issued standard.

While there are many overlaps in the #ifrs #standards, it is not a one-to-one comparison! It is important to look at this on a datapoint by datapoint level to understand the correct level of disclosure for your organization. I’m always happy to talk more about this so please reach out if you’re interested!

#EY #ISSB #GCRS JUST UPDATED- we have just released the updated Applying IFRS on ISSB sustainability disclosure standards. This updated edition uses real-life examples to illustrate practices that could be a starting point for disclosing information required by ISSB standards. Click below to read or download.

In addition to yesterday’s post, there were also two major ISSB announcements in the past few weeks: On 30 April the ISSB published its digital taxonomy. The IFRS Sustainability Disclosure Taxonomy reflects IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. You can access the taxonomy here:  https://lnkd.in/dmpZ2HJA On 23 April, the ISSB announced that it will prioritise the enhancement of the SASB Standards for the next 2 years. The SASB Standards are industry-based Standards covering 77 industries. They contain quantitative metrics as well as some qualitative disclosures with the aim of producing comparable and decision-useful data for investors. Companies applying the IFRS S1 Standards are required to consider the SASB Standards to identify their sustainability-related risks and opportunities and provide disclosures beyond climate-related information. Read more on the announcement here: https://lnkd.in/eC4i44mG See the February publication to learn more about using the SASB Standards to meet the IFRS S1 requirements here: https://lnkd.in/edsFfg5R #issb #ifrs #sasb #esg #nossadata

Interoperability guidance published on ESRS and ISSB Standards On 2 May 2024, the IFRS Foundation and EFRAG together published guidance material on the alignment between the ISSB Standards and ESRS. The material provides interoperability guidance for climate-related sustainability disclosures under ESRS and ISSB Standards. Whilst there are many aligned requirements of ESRS and ISSB Standards, there are differences that entities must address to claim compliance with both. A multi-national entity may need to comply with both sets of standards if it has reporting entities in jurisdictions that require compliance with ESRS, and reporting entities in jurisdictions that require compliance with ISSB Standards. The definition of materiality in IFRS S1, focused on what is decision-useful to investors, is aligned with the definition of financial materiality in ESRS. But ESRS requires a double materiality assessment, considering what is decision-useful information to investors and other stakeholders. https://lnkd.in/eudzca-N

ISSB published an important new guide today, on the fringes of ISSB Board Week in Beijing, and our engagements with leading investors: 🔗 Read the guide here: https://lnkd.in/dBcVWfdD Why does this matter? The demand for better information to support investment decision-making has never been greater. Investors and global capital markets increasingly require sustainability-related disclosures that are clear, decision-useful, and aligned with financial reporting. The new guide provides a practical roadmap for companies adopting ISSB Standards, focusing on the following key areas: 1️⃣ Explaining SRROs in IFRS S1: The guide helps companies understand how sustainability-related risks and opportunities (SRROs) are defined in IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, and how these can arise from a company’s dependencies and impacts. 2️⃣ Dependencies and Impacts: IFRS S1 explains how companies depend on and affect resources and relationships—human, intellectual, financial, natural, manufactured, and social—across their value chains. These dependencies and impacts can contribute to either preservation or degradation and may give rise to SRROs that could reasonably be expected to affect a company’s future prospects. 3️⃣ The Power of Integrated Thinking: Central to the ISSB’s approach is integrated thinking—considering the interconnection between a company, its stakeholders, society, the economy, and the natural environment throughout its value chain. 4️⃣ Materiality Process Alignment: The guide highlights how companies already applying IFRS Accounting Standards can leverage familiar processes for making materiality judgments, as outlined in IFRS Practice Statement 2: Making Materiality Judgements. This alignment ensures companies are well-positioned to integrate ISSB Standards with minimal disruption. 5️⃣ Driving Connectivity Across Standards: The guide also addresses how sustainability-related disclosures can connect seamlessly with financial statements. For organizations meeting broader stakeholder needs, it offers guidance on aligning ISSB Standards with ESRS or GRI Standards, supporting companies in building comprehensive, globally relevant reports. This guide is a major step forward in helping companies bridge financial and sustainability reporting, ensuring they meet the evolving expectations of investors. #ISSB #IFRS #Sustainability #Materiality

The IFRS Foundation just published a guide to help companies understand how to report only #climate-related information when applicable in accordance with ISSB Standards. As the CSDS are closely aligned to the #ISSB Standards, this can be a helpful resource to Canadian companies currently seeking additional guidance on creating their #CSDS disclosures! https://lnkd.in/emu325Ce #ESG