The finalization of the standards marks an important milestone in the development of a global framework for sustainability disclosure that aims to support transparency and comparability in global capital markets in response to investor needs.
The IFRS Foundation Monitoring Board (Monitoring Board) welcomes today’s publication of the final standards on General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and on Climate-related Disclosures (IFRS S2) by the International Sustainability Standards Board (ISSB).
The Monitoring Board is encouraged by the ISSB’s intention to develop additional adoption guidance for jurisdictions and preparers to consider as well as its capacity building efforts that will help implementation of or jurisdictions being informed by the standards. The Monitoring Board also looks forward to ISSB’s future work, noting the importance of moving beyond climate and into other sustainability topics for the organization, in line with its public consultation of agenda priorities.
The Monitoring Board has collaborated closely throughout the process with the leadership of the ISSB and the IFRS Foundation Trustees, and remains focused on supporting the development of a comprehensive global framework of sustainability disclosure standards to ensure they are developed using robust governance, due process, and oversight, as are the IFRS Accounting Standards developed by the International Accounting Standards Board.
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