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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 on 25–26 February 2026.

Contents

Research and standard-setting

Research and standard-setting

Biodiversity, Ecosystems and Ecosystem Services (Agenda Paper 3)

The ISSB met on 25 February 2026 to discuss:

  • terms and concepts essential to clarifying the scope of standard-setting;
  • the title of the standard-setting project; and
  • information on the connections between climate- and nature-related risks and opportunities.

Essential terms and concepts for standard-setting on nature-related disclosure requirements (Agenda Paper 3A)

Subject to further discussion, the ISSB tentatively decided to include in the exposure draft:

  1. the terms ‘nature-related risks’, ‘nature-related opportunities’, ‘nature’, ‘ecosystems’ and ‘ecosystem services’;
  2. the concept of ‘environmental assets’ (with revised wording);
  3. the term ‘nature-related physical risks’; and
  4. the term ‘nature-related transition risks’.

All 12 ISSB members agreed with the decisions in (a) and (b). Eleven of 12 ISSB members agreed with the decision in (c). Ten of 12 ISSB members agreed with the decision in (d).

Subject to further discussion, the ISSB also tentatively decided:

  1. to describe the terms ‘dependencies on nature’, ‘impacts on nature’, ‘nature’ and ‘ecosystems’;
  2. to define the term ‘ecosystem services’;
  3. to define the concept of ‘environmental assets’ (with revised wording); and
  4. to define the terms ‘nature-related risks’, ‘nature-related physical risks’, ‘nature-related transition risks’ and ‘nature-related opportunities’.

Eleven of 12 ISSB members agreed with the decision in (a). Nine of 12 ISSB members agreed with the decisions in (b) and (c). Eight of 12 ISSB members agreed with the decision in (d).

The ISSB also decided to change the project title to ‘Nature-related Disclosures’.

All 12 ISSB members agreed with this decision.

Information on connections between climate- and nature-related risks and opportunities (Agenda Paper 3B)

The ISSB discussed whether to provide additional guidance on nature-related disclosures but not the form such guidance would take. It tentatively decided:

  1. to provide additional guidance to support the application of the requirement for connected information in paragraph 21 of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information to nature-related disclosures—in particular, to information about connections, trade-offs and co-benefits between climate-related and nature-related risks and opportunities; and
  2. to focus this guidance on information about the effects of climate–nature connections on an entity’s strategy and risk management that the entity would need to provide to meet the requirements in paragraphs 28 and 43 of IFRS S1.

Nine of 12 ISSB members agreed with this decision.

Next step

The ISSB will continue discussions on this project.

Enhancing the SASB Standards (Agenda Paper 6)

The ISSB met on 26 February 2026 to discuss:

  • stakeholder feedback on the Exposure Draft Proposed Amendments to the SASB Standards and the next steps for the project (Agenda Paper 6A);
  • a prospective exposure draft of proposed amendments to three SASB Standards (Agenda Paper 6B); and
  • proposed consequential amendments to the Industry-based Guidance on Implementing IFRS S2 (IFRS S2 industry-based guidance) (Agenda Paper 6C).

Stakeholder feedback and project next steps (Agenda Paper 6A)

The ISSB discussed a summary of stakeholder feedback on the Exposure Draft regarding the ISSB’s execution of its 2024–2026 work plan and the strategy for the next steps of the project.

The ISSB decided to continue executing the project on Enhancing the SASB Standards as set out in the ISSB’s 2024–2026 work plan, including:

  1. to proceed with the finalisation of the proposals in the Exposure Draft;
  2. to consider ratifying a prospective exposure draft as set out in Agenda Paper 6B; and
  3. to start planning the next phase of the project.

All 12 ISSB members agreed with these decisions.

The ISSB also decided to respond to strategic stakeholder feedback separately from the project. 

All 12 ISSB members agreed with this decision.

Ratification of proposed amendments to the SASB Standards (Agenda Paper 6B)

The ISSB discussed a prospective exposure draft, which would set out proposed amendments to the remaining three of the 12 SASB Standards the ISSB has prioritised for enhancement.

The ISSB decided to ratify the exposure draft.

Eleven of 12 ISSB members agreed with this decision.

One ISSB member indicated an intention to dissent from the proposals in the exposure draft.

The ISSB also decided:

  1. to set a 120-day comment period for the exposure draft; and
  2. to confirm it is satisfied the ISSB has complied with the applicable due process steps required to publish the exposure draft.

All 12 ISSB members agreed with these decisions.

The ISSB tentatively decided to set an effective date for the amendments of 12–18 months after they are issued and to permit early application.

All 12 ISSB members agreed with this decision.

Due process steps and permission to ballot amendments to the Industry-based Guidance on Implementing IFRS S2 (Agenda Paper 6C)

The ISSB tentatively decided to propose in the prospective exposure draft amendments to the IFRS S2 industry-based guidance to maintain alignment with the climate-related content in the SASB Standards.

All 12 ISSB members agreed with this decision.

All 12 ISSB members confirmed they were satisfied the ISSB has complied with the applicable due process requirements to begin the process for balloting the proposed amendments to the IFRS S2 industry-based guidance.

The ISSB tentatively decided to set an effective date for the amendments of 12–18 months after they are issued and to permit early application.

All 12 ISSB members agreed with this decision.

Next steps

The ISSB will discuss a detailed analysis of stakeholder feedback on the Exposure Draft Proposed Amendments to the SASB Standards.

The ISSB will prepare to finalise the prospective exposure draft of proposed amendments to three SASB Standards, including beginning the balloting process for the proposed amendments to the IFRS S2 industry-based guidance. The ISSB expects to publish the exposure draft in March 2026.