The International Sustainability Standards Board (ISSB) is an independent, private-sector body that develops and approves IFRS Sustainability Disclosure Standards (IFRS SDS). The ISSB operates under the oversight of the IFRS Foundation. The ISSB was launched on 3rd November 2021 at COP26 and comprised a consolidation of a number of sustainability-related standards, namely, Climate Disclosure Standards Boards (CDSB), Value Reporting Foundation (VRF), Integrated Reporting (IR) and Sustainability Accounting Standards Board (SASB).



The intention is for the ISSB to deliver a comprehensive global baseline of sustainability-related disclosure standards that provide investors and other capital market participants with information about companies’ sustainability-related risks and opportunities to help them make informed decisions. The ISSB proposes issuing two IFRS Sustainability Disclosure Standards that would 1) require a company to disclose information that enables investors to assess the effect of significant sustainability-related risks and opportunities on its enterprise value, and 2) establish disclosure requirements specific to climate-related risks and opportunities. The ISSB sought comments on the two proposed IFRS Sustainability Disclosure Standards (exposure drafts) in July 2022. The ISSB are currently considering comments it received on the exposure drafts in developing its final requirements.  It plans to consider the comments in the second half of 2022 and aims to finalise the requirements by the start of 2023.

ISSB issues inaugural global sustainability disclosure standards
On 26th June 2023 the International Sustainability Standards Board (ISSB) issued its inaugural standards - IFRS S1 and IFRS S2 - ushering in a new era of sustainability-related disclosures in capital markets worldwide.  The Standards will help improve trust and confidence in company disclosures about sustainability to inform investment decisions.