According to the press release, the document, which is also referred to as “educational material”, has been designed to reduce complexity, fragmentation and duplication for entities applying both the ISSB standards and ESRS.

The guidance contains the following sections:

• Section 1 discusses the general reporting requirements in the ISSB standards and ESRS and explains the extent to which the standards are compatible with each other in terms of materiality, presentation and disclosures on non-climate-related sustainability topics.
• Section 2 provides a paragraph-by-paragraph analysis of the climate-related disclosure requirements of the ISSB standards and the ESRS in a tabular format.
• Section 3 lists reporting elements and areas for which ESRS preparers may need to provide additional disclosures in order to comply with the climate-related disclosure requirements in the ISSB standards.
• Section 4 lists reporting elements and areas for which IFRS preparers may need to provide additional disclosures in order to comply with the climate-related disclosure requirements in ESRS.

For more information, including access to the guidance, please see the press release on the IFRS Foundation website.

Note: On 23 May 2024, the ISSB and EFRAG will hold a joint event (in Brussels and online) on the guidance. Please click here for more information on the event on the EFRAG website.