Chapter 1: Sustainability Standards Flashcards
What is the ISSB?
The ISSB was formed by the IFRS Foundation in 2021 with responsibility for developing a set of sustainability disclosure standards (IFRS Sustainability Disclosure Standards) which will complement the existing IFRS Standards.
The ISSB will comprise members rom a range of professional backgrounds and geographical areas who have experience and expertise relevant to sustainability.
What is the aim of the ISSB?
The aim of the IFRS Sustainability Disclosure Standards is to provide high-quality, transparent and comparable information relating to sustainability in financial statements and sustainability disclosures which are focused on the needs of investors and financial markets.
The intention is for the ISSB to cover a range of environmental, social and governance (ESG) sustainability topics on which investors want information. It will begin with the climate-related disclosures due to the urgency regarding climate-related matters.
