IFRS Sustainability Disclosure Standards

On 26 June 2023, the International Sustainability Standards Board (ISSB) issued its first two international sustainability standards that become effective for periods beginning on or after 1 January 2024.

The ISSB sits alongside the existing International Accounting Standards Board (IASB), with both standard-setting boards operating under the oversight of the IFRS Foundation. Although the ISSB and IASB are separate and independent boards, they work alongside each other to enhance interconnectedness between financial reporting and sustainability reporting.

The ISSB aims to establish through the issuance of these Standards a global baseline of sustainability-related financial disclosures. All the standards the ISSB will issue will aim to provide the right information to support investor decision-making and facilitate international comparability to attract capital.