Maintaining and enhancing the SASB Standards
The SASB Standards help companies disclose industry-specific information as required by IFRS S1. Maintaining and enhancing the SASB Standards is therefore essential to supporting the implementation of the ISSB Standards, as well as ensuring that the SASB Standards remain relevant and decision-useful to investors.
Accordingly, enhancing the SASB Standards is part of the ISSB’s 2024–2026 work plan. The ISSB is carrying out this project in phases. Phase 1 involves enhancing an initial set of 12 high-priority SASB Standards in the Extractives & Mineral Processing sector and the Processed Foods industry. Phase 2 involves enhancing the six SASB Standards in the Technology & Communications sector. The ISSB will do additional research to determine further priorities, including potential enhancements to the Sustainable Industry Classification System®.
A group of ISSB members—chaired by Jeff Hales, former Chair of the SASB Standards Board—is tasked with developing recommendations for the ISSB related to the maintenance, evolution and enhancement of the SASB Standards. The group develops drafts of the required exposure drafts of amendments to the SASB Standards and, after considering the stakeholder feedback, drafts of the final amendments. The full ISSB considers the recommendations of this group in ISSB meetings (which are public) and ratifies the exposure drafts and, subsequently, the final amendments prepared by the group. The public consultation process for exposure drafts is the same as for those related to IFRS Sustainability Disclosure Standards.
