IOSCO, FSB comment on progress on ISSB standards
20 Feb 2023
The International Organization for Securities Commissions (IOSCO) has released a statement welcoming the ISSB’s decision to enter into the finalisation phase of its inaugural corporate sustainability reporting standards. In addition, in a letter to the G20 Finance Ministers and Central Bank Governors, the Financial Stability Board (FSB) calls the finalisation of the ISSB's standards in the first half of this year a 'pivotal goal' in addressing climate-related financial risks.
During last week's meeting, the International Sustainability Standards Board (ISSB) completed the redeliberation of its two proposed standards IFRS S1 and IFRS S2 and published a corresponding press release. The only steps left now are the drafting of the adjustments and additions made and the formal balloting of the revised text versions. The final standards are to be published in June 2023. The date of first-time application for IFRS S1 and S2 is 1 January 2024.
Please click to access the IOSCO statement and the FSB letter on the organisations' websites.
The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) have put out a joint statement echoing the IOSCO statement.
