The Hong Kong Stock Exchange (HKEX) has proposed making climate related disclosures mandatory for all issuers, requiring reporting using the International Sustainability Standards Board (ISSB) standards, from 1 January 2024.
At the recent G7 Ministers’ Meeting on Climate, Energy and the Environment in Sapporo, Japan, the G7 climate and environment ministers called for the implementation of mandatory climate-related financial disclosures. The move is seen as necessary to help achieve global climate goals and accelerate sustainable finance.
While we wait for the much-anticipated initial two standards from the International Sustainability Standards Board (ISSB), set to be released in Q2 2023, the board is considering additional transitional relief to support companies who will be implementing Standards S1 and S2.
The International Accounting Standards Board (IASB) has started a new project exploring how climate-related risk can be better outlined in financial statements.
Last month the IFRS Foundation hosted the IFRS Sustainability Symposium in Montreal, outlining what’s next for sustainability reporting and the International Sustainability Standards Board (ISSB).
Last week The International Sustainability Standards Board (ISSB) voted on the technical substance of its sustainability standards. With the content of the standards fully agreed, the ISSB can now move onto the final stage in preparation: drafting. A January 2024 implementation date for Sustainability Disclosure Standards S1 and S2 was also agreed during the meeting.
In June last year the Value Reporting Foundation (VRF) – home to the SASB Standards and the Integrated Reporting Framework – were folded into the International Sustainability Standards Board (ISSB), under the auspices of the IFRS Foundation. So, what’s been happening to the SASB standards since then?
After announcing at COP26 that the International Sustainability Standards Board (ISSB) would have a global presence, last week the Board took a step towards expanding its existing world-wide footprint by confirming that a Beijing office will open in mid-2023.
During a busy week at COP27 the International Sustainability Standards Board (ISSB) and CDP (formerly the Carbon Disclosure Project) announced that CDP will incorporate the ISSB’s Climate-related Disclosures Standard (IFRS S2) into its global environmental disclosure questionnaires.
Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB), took to the COP27 stage last week to unveil the ISSB Partnership Framework, designed to boost the ability of smaller entities and emerging economy stakeholders to use the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards.
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