The International Sustainability Standards Board (ISSB) inherited and is now responsible for the maintenance and enhancement of the standards developed by the Sustainability Accounting Standards Board (SASB).Feedback on the proposed methodology will enable the ISSB to make targeted amendments to the SASB Standards to make sure references within them are internationally applicable.

A small subset of the metrics included in the SASB Standards—around 20%—incorporate references to specific jurisdictional laws and regulations. Revising these references will help improve international applicability and remove regional bias.

The SASB Standards serve as an important source of guidance in the ISSB’s general requirements standard (IFRS S1) by helping companies to identify sustainability-related risks and opportunities and provide appropriate disclosures beyond climate (which is addressed by IFRS S2). The ISSB’s objective is to revise the metrics within the SASB Standards, based on the outcomes of the consultation, prior to IFRS S1 coming into effect in January 2024.

Comments on the exposure draft are requested by August 9, 2023.

Review the news release and the exposure draft on the IFRS website.