ISSB Issues Inaugural Global Sustainability Disclosure Standards

On June 26, 2023, The International Sustainability Standards Board (ISSB) issued its inaugural standards (IFRS S1 and IFRS S2) to help improve trust and confidence in company disclosures about sustainability to inform investment decisions.  

These Standards deliver efficiency in the disclosure landscape:

IFRS S1 and IFRS S2 build on and consolidate pre-existing initiatives – such as TCFD, CDSB, SASB and Integrated Reporting. They also borrow well known concepts from – and provide connectivity to – financial accounting standards. The ISSB is focused on simplifying the landscape even further through interoperability with additional jurisdictional requirements and the GRI Standards to reduce duplicative reporting.

Companies that have been following Integrated Reporting, SASB standards and TCFD recommendations will be in a better position to comply with these new Standards.

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