The International Sustainability Standards Board (ISSB) welcomes the announcement by the Taskforce on Nature-related Financial Disclosures (TNFD) that it will complete the technical work it currently has in progress by the third quarter of 2026 and pause the commencement of any further technical guidance work.
The TNFD’s announcement is in response to the ISSB’s decision to advance its own work to meet investors’ information needs through disclosures about nature-related risks and opportunities, drawing on the TNFD framework.
In response to identified investor needs, the ISSB will undertake standard-setting to introduce incremental disclosure requirements on nature-related risks and opportunities not already reflected in explicit requirements in IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.
The ISSB will agree on its approach to standard-setting in the coming months with options including a mix of application guidance or amendments to existing ISSB Standards, industry-based guidance, additional sources of guidance or a new standard. This work will be subject to public consultation in accordance with the IFRS Foundations due process.
Following standard-setting, the ISSB will develop any necessary educational materials to explain how to apply the requirements in ISSB Standards in the context of providing material nature-specific information.
To deliver this work the ISSB will draw on the TNFD framework and its non-siloed approach to nature, covering all aspects of nature rather than sub-topics. The ISSB will draw on TNFD’s recommendations, metrics and guidance, including the Locate, Evaluate, Assess, Prepare (LEAP) approach as appropriate.
The ISSB is targeting having an Exposure Draft of incremental disclosure requirements ready by the Convention on Biological Diversity COP17 in October 2026.
ISSB Chair, Emmanuel Faber said:
The ISSB recognises that there is a clear investor need for information about nature-related risks and opportunities. Drawing on the TNFD framework enables us to meet this need efficiently, reducing fragmentation and building on leading practice.
We welcome TNFD’s decision to complete the technical work it currently has in progress and then to pause and provide its support as we advance the global baseline where it relates to nature through the ISSB.
I encourage market participants to continue using the TNFD framework. This will help them prepare disclosures in accordance with IFRS S1 and prepare for meeting future incremental ISSB disclosure requirements.
Followable tags
IFRS Sustainability Standards development
Applying IFRS Sustainability standards
