IFRS Sustainability Disclosure Taxonomy

The International Sustainability Standards Board (ISSB) proposes creating an IFRS Sustainability Disclosure Taxonomy to reflect disclosure requirements arising from:

• IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, issued in June 2023; and
• IFRS S2 Climate-related Disclosures, issued in June 2023.

The ISSB published the Proposed IFRS Sustainability Disclosure Taxonomy on 27 July 2023.

The Proposed IFRS Sustainability Disclosure Taxonomy is designed to facilitate users of general purpose financial reports to consume sustainability-related financial information digitally, regulators to require the digital reporting of sustainability-related financial information, and preparers to implement digital reporting of sustainability-related financial information, enabling tagging without undue cost.

In developing the Proposed IFRS Sustainability Disclosure Taxonomy, the ISSB considered feedback staff received on fundamental matters discussed in a prior request for feedback, including comments from external groups of experts, including the IFRS Taxonomy Consultative Group (ITCG).

The consultation was open for comment until 26 September 2023. The ISSB will consider feedback on the Proposed IFRS Sustainability Disclosure Taxonomy and the need for further changes before publishing the IFRS Sustainability Disclosure Taxonomy.

Thereafter, the IFRS Sustainability Disclosure Taxonomy will be updated after public consultations to reflect any amendments to IFRS Sustainability Disclosure Standards, common reporting practice and emerging reporting issues.