In a recent meeting, the International Sustainability Standards Board (ISSB) prioritized climate-related disclosures to support companies during their initial application of the ISSB Standards. This move will help organizations focus on investor information needs surrounding climate change in the first year of reporting. What does this mean for your company? ■ You can concentrate on providing high-quality information about climate-related risks and opportunities in the first year of reporting; ■ From the second year onwards, your company needs to report on sustainability-related risks and opportunities beyond climate; ■ You may see the first year as an opportunity to familiarize with the ISSB Standards, reporting on climate as a starting point. ?? The ISSB's S1 and S2 Standards will be issued towards the end of Q2 2023, with a consultation on future standard-setting priorities expected in May 2023. #ISSB #Sustainability #ClimateChange #Reporting
The #ISSB has decided to introduce a relief that will enable companies to focus initial efforts on ensuring they meet investor information needs around climate change. ISSB Chair Emmanuel Faber said: 'This transitional relief ensures companies can phase in their approach, initially focusing on the quality of the climate-related information they provide. That said, companies around the world are not all starting from the same place. We expect many of the companies that already disclose information beyond climate to continue to do so, including the 2,500 plus companies already applying the SASB Standards.' Read his full quote below and the announcement here: https://lnkd.in/eqcrz4ka
