ISSB opens consultation on SASB standards update
The International Sustainability Standards Board (ISSB) launched a major consultation on 3 July, proposing updates to the SASB Standards to align industries, and changes to implementation guidance for IFRS S2 Climate-related Disclosures. This marks the first full review of nine key industry specific standards, and includes targeted amendments to metrics across a further 41 sectors.
The review aims to harmonise the industry specific standards’ sustainability metrics (e.g. greenhouse gas emissions, water management and workforce safety) with the ISSB’s global disclosure framework. The exposure draft also proposes changes to IFRS S2 implementation guidance to maintain alignment and interoperability across frameworks.
This initiative is part of the ISSB’s 2024–2026 work plan to enhance the relevance, comparability and cost-effectiveness of sustainability disclosures. It also serves companies that continue to use the SASB Standards voluntarily, helping them transition towards reporting that will be inline with the global baseline of sustainability information.
This kind of alignment is important to building a cohesive, globally aligned disclosure landscape. Structured, comparable and decision-useful ESG data is foundational to effective sustainability reporting. Aligning SASB metrics with IFRS S1 and S2 will significantly improve the usability and clarity of disclosures.
There’s a 150-day comment period, allowing stakeholders to respond in depth or via an accessible online survey.
Explore the exposure drafts and respond to the survey on the IFRS website.
