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The ISSB met on 18 October 2022 to discuss updates to the planned approach to preparing a request for information on its agenda priorities. The ISSB reached tentative decisions on the structure and timeline of the request for information, as well as the activities that it will include as part of its committed work to build on the foundation established by IFRS S1 and IFRS S2, once finalised.

The ISSB will review further research and consider additional feedback from stakeholders before deciding which new research and standard-setting projects to include in the request for information.

ISSB Update October 2022

The ISSB met on 18 October 2022 to discuss updates to the planned approach to preparing a request for information on its agenda priorities. The request for information will inform the development of the ISSB’s two-year work plan.

The ISSB tentatively decided that the request for information should:

  1. outline work to build on the foundation that will have been established by IFRS S1 and IFRS S2, once finalised (foundational work), and only request stakeholder feedback on proposals for new research and standard-setting projects; and
  2. be published in the first half of 2023 to allow the ISSB to decide first on important areas of Exposure Draft IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and Exposure Draft IFRS S2 Climate-related Disclosures (draft S2) and associated activities of the ISSB that will affect the initial work plan.

The ISSB also tentatively decided that its foundational work will consist of the activities outlined in paragraph 12(a)–(d) of Agenda Paper 2, which include:

  1. enhancing the international applicability of the SASB Standards and continuing legacy SASB Standards projects;
  2. developing materials to support capacity building and articulate core concepts, as well as advancing the IFRS Sustainability Disclosure Taxonomy for digital reporting;
  3. coordinating with the IASB and other sustainability-reporting standard-setting bodies to support connectivity and interoperability; and
  4. continuing research and outreach to identify targeted enhancements of draft S2, once finalised.

All 12 ISSB members agreed with all these decisions except for the decision about foundational work set out in paragraph (d) above. Eleven of 12 ISSB members agreed with that decision.

Next milestone

Request for Information