At the supplementary meeting, the ISSB will discuss a further enhancement to its planned package of transitional reliefs to support companies applying its initial two Standards—S1 and S2.
The potential relief would allow companies applying the ISSB Standards to phase in their approach to sustainability-related disclosure, beginning with climate-related risks and opportunities in the first year of reporting. For companies using the proposed relief, the full reporting on sustainability-related risks and opportunities (beyond just climate) would be provided from the second year.
This would be consistent with the message the ISSB has received about climate-related disclosures being a priority, given the urgent demand from investors for consistent and comprehensive information on this topic, but also balances the need for more comprehensive reporting on sustainability-related risks and opportunities in the near term.
The ISSB remains on track to publish its initial two Standards—S1 and S2—towards the end of Q2 2023.