International Sustainability Standards Board (ISSB)

The International Sustainability Standards Board (ISSB) is an independent standard-setting body established in 2021 under the IFRS Foundation. Its primary mission is to develop a comprehensive global baseline of sustainability-related disclosure standards, enabling companies to provide consistent and comparable information that meets the needs of investors and other participants in the world's capital markets.

Key aspects of the ISSB include:

• Global Baseline Standards: The ISSB develops IFRS Sustainability Disclosure Standards, which serve as a global framework for sustainability reporting, facilitating transparency and informed decision-making in financial markets.
• Investor Focus: The standards are designed to provide investors with high-quality, comparable information about companies' sustainability-related risks and opportunities, enhancing their ability to assess enterprise value.
• Consolidation of Expertise: The ISSB integrates the work of various sustainability standard-setters, including the Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation (VRF), to streamline and harmonize sustainability reporting standards globally.

By establishing these standards, the ISSB aims to enhance the quality and comparability of sustainability disclosures, thereby supporting efficient capital allocation and contributing to economic stability and sustainability.

Source(s):

• International Sustainability Standards Board (ISSB). (n.d.). International Sustainability Standards Board.
• IFRS Foundation. (2021). IFRS Foundation announces International Sustainability Standards Board, consolidation with CDSB and VRF, and publication of prototypes.
• IFRS Foundation. (2023). ISSB issues inaugural global sustainability disclosure standards.

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