International applicability of the SASB standards
Background
The International Sustainability Standards Board (ISSB) inherited and is now responsible for the maintenance and enhancement of the standards developed by the the Sustainability Accounting Standards Board (SASB).
A small subset of the SASB standards incorporates references to specific jurisdictional laws and regulations that may be globally inapplicable, introduce regional bias, increase application costs and decrease the comparability and decision-usefulness of the resulting disclosures. Therefore, the ISSB is working towards developing a methodology to enhance the content in the SASB standards in order to make the SASB standards more internationally applicable and GAAP-agnostic, without altering the intent or underlying concepts of any specific disclosure topic or metric.
Current status of the project
This project has been completed. The ISSB issued amendments to the SASB standards on 19 December 2023.
Project milestones
| Date | Development | Comments |
|---|---|---|
| October 2022 | Project first discussed by the ISSB | |
| 11 May 2023 | ED/ISSB/2023/1 Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates published | Comments requested by 9 August 2023 |
| 19 December 2023 | Amendments to the SASB standards published by the ISSB | Applies to annual reporting periods beginning on or after 1 January 2025 |
