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This ISSB Update highlights preliminary decisions of the International Sustainability Standards Board (ISSB). Projects affected by these decisions can be found on the work plan. The ISSB's final decisions on IFRS® Sustainability Disclosure Standards are formally balloted as set out in the IFRS Foundation's Due Process Handbook.

The ISSB met in New York City on 21 February 2024.

Strategy and governance

ISSB Consultation on Agenda Priorities (Agenda Paper 2)

The ISSB met on 21 February 2024 to finalise the criteria for prioritising new research and standard-setting projects that could be added to the ISSB’s work plan.

The ISSB tentatively decided:

  1. to make no substantive changes to six of the seven criteria proposed in the Request for Information Consultation on Agenda Priorities; and
  2. to change the criterion on how a potential project would relate to other projects in the work plan to make it explicit that the ISSB will consider the work of other relevant standard-setters.

Eight of the 13 ISSB members present agreed with this decision. One member was absent.

Next steps

The ISSB will decide the strategic direction and balance of its activities and decide which new projects to add to the work plan.

Applying Standards

Supporting the implementation of IFRS S1 and IFRS S2 (Agenda Paper 9)

The ISSB met on 21 February 2024 to discuss the development of educational material on the concept of ‘materiality’ in the context of IFRS Sustainability Disclosure Standards. 

The ISSB was not asked to make any decisions. 

Next step

The ISSB directed the staff to develop the educational material.