The #ISSB has issued updates to the #SASB Standards Taxonomy to reflect disclosure requirements arising from recent amendments to the SASB Standards.  The SASB Standards Taxonomy is designed for use by preparers who apply ISSB Standards in conjunction with the ISSB Taxonomy, and by preparers who apply the SASB Standards independently of ISSB Standards.    These updates cover:  📝 the consequential amendments that were made in connection with the issuance of IFRS S2 Climate-related Disclosures in June 2023: https://lnkd.in/eqK5RpqX 📝 the amendments that were made as part of the ISSB’s International Applicability of the SASB Standards project in December 2023: https://lnkd.in/eJHHtTwi   👉 Access the final XBRL files and supporting materials: https://lnkd.in/eVVXjyrC #SASBStandards #taxonomy International Sustainability Standards Board (ISSB)

#EY #ISSB #ESRS #GCRS The IFRS Foundation and EFRAG together have just published guidance material on the alignment between the ISSB Standards and ESRS. The material provides interoperability guidance for climate-related sustainability disclosures under ESRS and ISSB Standards. Click below to read or download our publication on this.

The Interoperability Guidance published by #EFRAG and #IFRSFoundation is very helpful for companies that want to comply with both #ESRS and #ISSB standards, especially for multi-national companies. This summary document (4 pages) published by #EY highlights the key areas of detail Guidance document (33 pages) published by #EFRAG and #IFRSFoundation. #sustainabilityreporting #EY #CCaSS

The IFRS Foundation and EFRAG recently published material that illustrates the high degree of alignment achieved between the #ISSB Standards and #ESRS in climate-related disclosures and explains how a company can comply with both sets of standards.    💭 What’s next?    The ISSB, #EFRAG and the European Commission will have a continued dialogue, including as they work together on:   ✅ Work on sector-based standards; and ✅ Digital taxonomy to identify the ISSB global baseline and support presentation that complies with both sets of standards.   Find out more: https://lnkd.in/dE5KNHeZ    #IFRSsustainability #ISSBstandards #interoperability 

The Inaugural Jurisdictional Guide for the adoption or other use of International Sustainability Standards Board (ISSB) Standards (Jurisdictional Guide) aims to promote globally consistent and comparable #climate and other #sustainability-related #disclosures for #capitalmarkets through the adoption or other use of ISSB Standards internationally. It supersedes the Preview of the Inaugural Jurisdictional Guide for the adoption or other use of ISSB Standards, published in February 2024, and builds on The jurisdictional journey towards implementing IFRS S1 and IFRS S2—Adoption Guide overview, published in July 2023, which was welcomed by the International Organization of Securities Commissions (IOSCO). The Jurisdictional Guide also builds on IOSCO’s endorsement of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures and IOSCO’s call to its members to consider ways in which they might ‘adopt, apply or otherwise be informed by’ the ISSB Standards within the context of their jurisdictional arrangements in a way that promotes consistent and comparable climate and other sustainability-related disclosures for capital markets.

In response to growing investor demand for globally comparable sustainability-related disclosures, companies can voluntarily apply ISSB Standards, even in the absence of regulatory requirements. Investors worldwide are increasingly encouraging companies to adopt these standards and as more jurisdictions introduce sustainability disclosure requirements, the ISSB Standards provide a global framework for compliance. To assist companies in this transition, the IFRS Foundation has published Voluntarily applying ISSB Standards: A guide for preparers (Voluntary Application Guide). This guide is designed to help companies start applying ISSB Standards and communicate their progress to investors. The guide also addresses key elements supporting implementation: - Transition reliefs, such as phased-in approaches and flexibility in climate-first reporting and greenhouse gas emission disclosures. - Proportionality mechanisms that consider the varying capabilities and circumstances of companies. Companies already using frameworks like TCFD, SASB Standards, CDSB materials, or the Integrated Reporting Framework, are on a clear path toward compliance with IFRS S1 and IFRS S2. Key elements of these voluntary frameworks have been integrated into the ISSB Standards to navigate from these frameworks and standards to ISSB Standards. Additionally, by utilising tools like the ESRS - ISSB Standards Interoperability Guidance, companies can leverage ISSB Standards to address both investor demand and global regulatory requirements effectively. Read the ESRS - ISSB Standards Interoperability Guidance, here: https://lnkd.in/dE9ERjKW  Read more about the ISSB standards here: https://lnkd.in/eh6azavV  #sustainability #issb #esrs #esg #ifrs

Sustainability reporting news! The #IFRS Foundation and EFRAG have published guidance outlining the level of alignment between the ISSB standards (IFRS S1 and IFRS S2) and the ESRS. (link in comments). Audifina - Lucanet partner in Baltic States is at your services whenever you need a consultation on sustainability or financial reporting. #ESRS, #sustainabilityreporting, #ESG, #IFRS

#ESRS–#ISSB #Interoperability #Guidance: The International Sustainability Standards Board (ISSB) and the European Commission services, together with EFRAG, have worked together during the development of the European Sustainability Reporting Standards (ESRS)1 and the IFRS Sustainability Disclosure Standards (ISSB Standards) to achieve a high degree of alignment of the respective standards, with a specific focus on climate‑related reporting. Consequently: -  the definition of financial materiality in ESRS is aligned with the definition of materiality in IFRS S1 General Requirements for Disclosure of Sustainability‑related Financial Information -  the two sets of standards include common defined terms; and -  there is a high degree of alignment of the climate-related disclosures in the two sets of standards and, in particular, almost all the disclosures in ISSB Standards related to climate are included in ESRS. This joint interoperability guidance describes the alignment of disclosure requirements and information that an entity starting with each set of standards needs to know to enable compliance with both sets of standards, ensuring interoperability between them. Regardless of whether it starts with ESRS or ISSB Standards, an entity can comply with the climate requirements of both sets of standards by following the content of this interoperability guidance.

In his article titled "Navigating Financial Seas: IFRS S1 & S2," Abid Ladha explores the formation of the International Sustainability Standards Board (ISSB) within the International Financial Reporting Standards (IFRS) Foundation. The focus is on elevating global sustainability reporting standards, with a spotlight on the ISSB's release of the IFRS S1 and S2 standards. The article underscores their significance in fostering transparency and tackling climate-related risks. Furthermore, it provides practical guidance for organizations to prepare themselves for sustainability reporting by these standards.  #SustainabilityReporting #IFRS #ISSB #ClimateRiskManagement

Last May the IFRS Foundation and EFRAG have released interoperability guidance to streamline the alignment between ISSB and ESRS standards 🌍. Many companies will now disclose sustainability information using both ISSB Standards and ESRS, reducing reporting duplication and complexity, and providing useful information for investors. However, complying with one set of standards doesn't ensure compliance with the other. At Global EcoRisk we help you navigate and comply with these evolving standards, ensuring your climate reporting is seamless and efficient. Reach out to learn more about how we can support your sustainability journey! 🌱   https://lnkd.in/dE5KNHeZ #ClimateReporting #Sustainability #ESRS #ISSB #IFRS #EFRAG #SustainabilityStandards