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This ISSB Update highlights preliminary decisions of the International Sustainability Standards Board (ISSB). Projects affected by these decisions can be found on the work plan. The ISSB's final decisions on IFRS® Sustainability Disclosure Standards are formally balloted as set out in the IFRS Foundation's Due Process Handbook.

The ISSB met in London on 18 May 2023.

Contents

Research and standard-setting

Research and standard-setting

Maintenance of the SASB Standards (Agenda Paper 6)

The ISSB met on 18 May 2023 to ratify consequential amendments to the climate-related SASB Standards to align them with IFRS S2 Climate-related Disclosures, and to discuss the applicable due process steps taken.

The ISSB decided to ratify the amendments, which will align the climate-related SASB Standards with:

  1. the application guidance in IFRS S2 on financed emissions; and
  2. the Industry-based Guidance on Implementing IFRS S2 Climate-related Disclosures (industry-based guidance).

Thirteen of 14 ISSB members agreed with the decision to ratify the consequential amendments to the SASB Standards regarding financed emissions.

All 14 ISSB members agreed with the decision to ratify the consequential amendments to the SASB Standards to align them with the industry-based guidance.

All 14 ISSB members confirmed they were satisfied the ISSB has complied with the applicable due process requirements.

Next step

The ISSB expects to issue the amendments to the climate-related SASB Standards in June 2023.