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On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).
The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs.
On 31 March 2022 the International Sustainability Standards Board (ISSB) published its first proposed standards. One sets out general sustainability-related disclosure requirements (General Requirements Exposure Draft) and the other specifies climate-related disclosure requirements (Climate Exposure Draft). These exposure drafts build on the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and include industry-based disclosure requirements derived from SASB Standards.
The General Requirements Exposure Draft requires companies:
To identify sustainability-related risks and opportunities, companies can also consider:
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