UNEP FI responds to IFRS Consultation on ISSB agenda priorities

04 September 2023

Following its response to the IFRS consultation on the ISSB’s first standards – General Requirements for Disclosure of Sustainability-related Financial Information (S1) and Climate-related Disclosures (S2) in 2022 – UNEP FI has responded to the IFRS consultation regarding the ISSB’s future agenda priorities.

Based on the ISSB’s ongoing vision for its disclosure standards to provide a global common reporting baseline, UNEP FI has emphasized:

• The need to prioritise enhancements to the existing standards, in particular S1 disclosure, application requirements and guidance with regards to how an entity identifies its short, medium and long-term sustainability risks and opportunities. As pointed out in UNEP FI’s 2022 consultation response, a holistic impact identification process is required to ensure information users are presented with all material information for their decision-making. More information is available in this thought piece by the Impact Management Platform.
• The importance of providing implementation guidance in order to ensure uptake and to drive quality disclosures.
• The importance of continuing to build on existing international standards and frameworks, including the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs). UNEP FI recommends that the ISSB research work be focused on the broader concept of “nature”, which encompasses multiple interlinked ‘realms’ and ‘pressures’, as well as on “social issues”, which are understood as an umbrella theme encompassing a variety of concerns captured by international conventions, in particular the UN Human Rights Conventions and the ILO Conventions.

UN EP FI

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