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The International Sustainability Standards Board (ISSB) decided to move the Nature-related Disclosures project from research to standard-setting in its work plan. The standard-setting phase of the project will involve developing disclosure requirements to respond to the needs of investors for information on nature-related risks and opportunities. These requirements will supplement the requirements in IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, to be applied to nature-related risks and opportunities.

ISSB Update February 2026

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 milestone

Exposure Draft