ISSB confirms requirement to use climate-related scenario analysis
Nov 01, 2022
On November 1, 2022, the International Sustainability Standards Board (ISSB) unanimously confirmed that companies will be required to use climate-related scenario analysis to inform resilience analysis.
At the supplementary board meeting held on November 1, 2022, the ISSB voted to confirm that companies are required to use climate-related scenario analysis to report on climate resilience and to identify climate-related risks and opportunities to support their disclosures.
The ISSB also agreed to provide application support to preparers including making use of materials developed by the Task Force for Climate-Related Financial Disclosures (TCFD) to provide guidance to preparers on how to undertake scenario analysis. This decision responds to questions from stakeholders about what is meant by the term "climate-related scenario analysis".
Review the press release on the IASB's website.