ISSB discusses the relationship between SASB Standards and IFRS Sustainability Disclosure Standards
ISSB discusses the relationship between SASB Standards and IFRS Sustainability Disclosure Standards
The International Sustainability Standards Board (ISSB) tentatively decided to clarify in the Sustainability Accounting Standards Board (SASB) Standards that IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information apply when SASB Standards are used to prepare disclosures in accordance with IFRS Sustainability Disclosure Standards.
The ISSB also tentatively supported making IFRS S1 reliefs available for information prohibited by law or regulation and commercially sensitive information about sustainability-related opportunities, subject to specified conditions.
It further tentatively supported the use of the ‘all reasonable and supportable information that is available to the entity at the reporting date without undue cost or effort’ proportionality mechanism.
The Board will continue considering additional proportionality mechanism for selected SASB metrics and whether measures similar to those covered above should apply when the SASB Standards are used without the IFRS Sustainability Disclosure Standards.
More details are available in the press release.
The ISSB also tentatively supported making IFRS S1 reliefs available for information prohibited by law or regulation and commercially sensitive information about sustainability-related opportunities, subject to specified conditions.
It further tentatively supported the use of the ‘all reasonable and supportable information that is available to the entity at the reporting date without undue cost or effort’ proportionality mechanism.
The Board will continue considering additional proportionality mechanism for selected SASB metrics and whether measures similar to those covered above should apply when the SASB Standards are used without the IFRS Sustainability Disclosure Standards.
More details are available in the press release.