• ISSB – Updates from COP27

ISSB – Updates from COP27

10 November 2022

The annual United Nations Climate Conference (COP27) met in Sharm El-Sheikh, Egypt in the beginning of November 2022. The ISSB made some key announcements at COP27 towards implementation of climate-related disclosure standards in 2023.

The ISSB shared the details of its new Partnership Framework. The Framework is designed to support preparers, investors and other capital market stakeholders as they prepare to use IFRS Sustainability Disclosure Standards.

CDP, the not-for-profit which runs the global environmental disclosure platform for corporations, and the ISSB announced that CDP will incorporate the IFRS S2 Climate-related Disclosures requirements into its global environmental disclosure platform. As a result of this announcement, CDP’s 17,000+ voluntary users will disclose data structured to IFRS S2 in the 2024 disclosure cycle. CDP’s existing questionnaires are currently issued to companies annually on behalf of 680 financial institutions with over $130 trillion in assets.

The announcements by the ISSB may be accessed here.