12 April 2022

ISSB Publishes First Draft Standards

The International Sustainability Standards Board (ISSB) has published the first two drafts of its sustainability standards for comments.

General Requirements for Disclosure of Sustainability-Related Financial Information (IFRS S1)

In terms of content, IFRS S1 is based on Accounting Standard Accounting Standard IAS 1 (Presentation of Financial Statements) from the IASB and, among other things, explains the aim of the ISSB Sustainability Standard. This lies in the presentation of major sustainability-related opportunities and risks in the reporting company that are useful for the primary addressees of the general financial reporting in deciding on the provision of resources for the company.

Climate-Related Disclosures (IFRS S2)

IFRS S2 is the ISSB’s first thematic draft standard and contains regulations on climate-related disclosures. It requires companies to report, among other things, on the effects of key climate-related risks and opportunities on the company value and the reaction and adaptability of the company to these opportunities and risks.

Comments can be made on the two drafts until 29 July 2022.