General requirements

Background

In November 2021, the IFRS Foundation announced the creation of its new International Sustainability Standards Board (ISSB) tasked with developing a comprehensive global baseline of high-quality sustainability disclosure standards to meet investors’ information needs.

In order to facilitate a running start of the ISSB, a Technical Readiness Working Group (TRWG) had been created in March 2021. Concomitantly with the announcement of the formation of the ISSB, the TRWG published a General requirements for disclosure of sustainability-related financial information prototype.

In an additional meeting in March 2022, the Due Process Oversight Committee (DPOC) confirmed that it does not object to the ISSB Chair and Vice-Chair publishing the exposure draft General Requirements for Disclosure of Sustainability-Related Financial Information that builds on the TRWG prototype before the ISSB is quorate.

The general requirements for disclosure of sustainability-related financial information prototype was inspired by IAS 1 Presentation of Financial Statements and set out the overall requirements for sustainability-related disclosures to investors.

The main proposals in ED/2022/S1 General Requirements for Disclosure of Sustainability-Related Financial Information generally reflect the proposals in the prototype with some changed titles and strengthened definitions and some changes to the order of proposals.

 

Current status of the project

ED/2022/S1 General Requirements for Disclosure of Sustainability-Related Financial Information was published on 31 March 2022 with comments requested by 29 July 2022.

 

Project milestones

Date Development Comments
March 2021 Technical Readiness Working Group (TRWG) created
November 2021 General requirements for disclosure of sustainability-related financial information prototype published
31 March 2022 ED/2022/S1 General Requirements for Disclosure of Sustainability-Related Financial Information published
Comments requested by 29 July 2022

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.