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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 March 2023

The ISSB met on 16 March 2023 to discuss one of the potential projects to be included in the ISSB’s first request for information. Feedback provided by stakeholders on the request for information will inform the ISSB’s two-year work plan.

At its December 2022 meeting, the ISSB tentatively decided to seek stakeholder feedback on four potential projects in the request for information. One of the four potential projects was focused on connectivity in reporting and was described as a joint project with the International Accounting Standards Board (IASB) that would build on the IASB’s Management Commentary project and the Integrated Reporting Framework.

At this meeting, the ISSB tentatively decided that, within its request for information, it would:

  1. expand the scope of the potential project on connectivity in reporting to:
    1. focus on integration in reporting; and
    2. consider integrated disclosures beyond the requirements related to connected information in IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (S1) and IFRS S2 Climate-related Disclosures (S2);
  2. include a discussion of the requirements in S1 and S2 related to connected information to provide necessary context for the potential project on integration in reporting;
  3. present the potential project on integration in reporting as an ISSB project that could be pursued jointly with the IASB, rather than presenting it as a formal joint project; and
  4. frame the questions asked in a manner that elicits input about how the project on integration in reporting should be pursued.

Thirteen of 14 ISSB members agreed with these decisions.

The ISSB also tentatively agreed that, in the request for information, it would seek feedback on the potential project on integration in reporting regarding:

  1. the priority and urgency of the potential project on integration in reporting relative to the other potential research projects included in the request for information;
  2. whether the potential project on integration in reporting should be a formal joint project with the IASB, or an ISSB project that could draw on input from the IASB as needed; and
  3. whether the potential project on integration in reporting should build on and incorporate concepts from the IASB’s Management Commentary project, the Integrated Reporting Framework, both of those documents or from other sources.

Thirteen of 14 ISSB members agreed with these decisions.

Next milestone

Request for Information