April 6, 2022
A Standard Setter in Action
Things are moving surprisingly fast with the International Sustainability Standards Board (ISSB), which was established in November 2021 at COP26 to develop a comprehensive global baseline of sustainability disclosures. This new standard setter consolidates the CDSB and the Value Reporting Foundation (the combination of SASB and IIRC) under the auspices of the IFRS Foundation.
Wasting no time, last week the ISSB announced the publication of exposure drafts that it says build upon the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and incorporate industry-based disclosure requirements derived from SASB Standards. The ISSB is seeking feedback on the proposals over a 120-day consultation period closing at the end of July, and it plans to issue new Standards by the end of the year.
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– Dave Lynn