An important objective of the ISSB is helping make sustainability-related disclosure practices efficient and effective. The ISSB works with a number of organisations in the sustainability disclosure landscape to advance this work.
For example, the ISSB:
- works with a range of capacity-building partners to support implementation;
- works with other standard-setters and framework providers to harmonise the disclosure landscape, within the context of the ISSB’s focus on investor information needs; and
- works with others that establish disclosure or other requirements with reference to the ISSB’s work.
Some examples of the ways that we work with others to achieve our objectives are listed below.
The IFRS Foundation works with public and private organisations, global and local, to support readiness as the ISSB Standards are used and adopted.
The Basel Committee welcomed the development of the ISSB Standards and leveraged the Standards in its work on climate-related financial risks, helping to reduce complexity across disclosure schemes.
CDP aligned its questionnaire with IFRS S2 Climate-related Disclosures as the foundational baseline for CDP’s climate disclosure. This alignment helps improve the consistency of climate-related information for investors while reducing the disclosure burden on companies that use CDP’s questionnaire and the ISSB Standards.
The ISSB works with national and regional standard-setters, including through our Sustainability Standards Advisory Forum. During the development of the ISSB Standards and of the European Sustainability Reporting Standards (ESRS), the ISSB, EFRAG and the European Commission worked:
- to deliver a high degree of alignment in disclosure requirements; and
- to provide practical support that explains how companies can efficiently comply with both sets of standards.
The ISSB, European Commission and EFRAG continue to work together to support implementation.
In response to stakeholder demand, the IFRS Foundation and the Global Reporting Initiative (GRI) work together to enable seamless, global and comprehensive sustainability disclosure for companies and information users. The intention is to support companies choosing or being mandated to apply GRI and ISSB Standards to meet the needs of investors and other stakeholders.
- GRI and IFRS Foundation reaffirm commitment to complementary disclosures
- GRI 102 and IFRS S2—Reporting on both standards and equivalence for IFRS S2 on GHG Emissions Disclosures
- GRI and IFRS Foundation collaboration to deliver full interoperability that enables seamless sustainability reporting
- ISSB and GRI provide update on ongoing collaboration
- IFRS Foundation and GRI to align capital market and multi-stakeholder standards to create an interconnected approach for sustainability disclosures
IFRS S2 requires GHG emissions to be measured in accordance with the GHG Protocol Corporate Standard (2004), given its wide use around the world. Furthermore, IFRS S2 requires companies to use the categories of Scope 3 as set out in the Corporate Value Chain (Scope 3) Standard (2011).
The IFRS Foundation and the GHG Protocol have signed a Memorandum of Understanding to put in place governance arrangements to actively engage the ISSB in updates and decisions made in relation to the GHG Protocol standards and guidance. This engagement includes a representative of the ISSB observing GHG Protocol Independent Standards Board meetings. The Memorandum ensures ongoing compatibility between the work of the GHG Protocol and the ISSB and ensures that the information companies provide meets the needs of capital markets.
In 2023 the IFRS Foundation and the International Organization for Standardization (ISO) confirmed their shared commitment to cooperate to support efficient and resilient global economies.
IPSASB SRS 1, Climate-related Disclosures was developed for public sector entities to disclose information on climate-related risks and opportunities. The Standard builds on the ISSB Standards, helping to reduce complexity across disclosure schemes.
Companies with transition plans are required to disclose material information about them when applying IFRS S2.
The IFRS Foundation assumed responsibility for the disclosure-specific materials developed by the Transition Plan Taskforce and published guidance building on these materials to address fragmentation of disclosures about transition plans.
The Transition Plan Taskforce completed its mandate in October 2024. That year, the International Transition Plan Network was established, with the IFRS Foundation joining as an observer.
The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have a Memorandum of Understanding outlining both parties’ commitment to draw on the TNFD recommendations in the ongoing work of the ISSB.
To deliver this work, the ISSB is drawing on the TNFD framework and its non-siloed approach to nature, covering all aspects of nature rather than sub-topics. The ISSB is drawing on TNFD’s recommendations, metrics and guidance—including the Locate, Evaluate, Assess, Prepare (LEAP) approach—as appropriate to meet investor information needs.
