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  • Writer's pictureDeborah

On June 26, The International Sustainability Standards Board (ISSB) officially issued its standards - IFRS S1 and IFRS S2 - setting out its expectations concerning companies’ disclosures about sustainability (read our previous updates here and here).


As indicated on the ISSB website : “ The Standards create a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects”.


Building on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD):

  • IFRS S1 provides a set of disclosure requirements designed to enable companies to communicate to investors about the sustainability-related risks and opportunities they face over the short, medium and long term.

  • IFRS S2 sets out specific climate-related disclosures and is designed to be used with IFRS S1.

The ISSB will collaborate with jurisdictions and companies to support adoption by, among other things, creating a Transition Implementation Group that will accompany companies that apply the Standards.


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