ISSB proposes comprehensive review of priority SASB Standards and targeted amendments to others

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The International Sustainability Standards Board (ISSB) has published two exposure drafts proposing amendments to the SASB Standards and consequential amendments to the Industry-based Guidance on Implementing IFRS S2.

The proposed amendments:

present a comprehensive review of nine industries that were prioritised (all eight industries in the Extractives & Minerals Processing sector and the Processed Foods industry);

align some metrics in a further 41 industries for topics such as Water Management and Workforce Health & Safety; and

propose updates to Industry-based Guidance on Implementing IFRS S2 (affecting the nine prioritised industries and 37 of the 41 industries) to maintain alignment with climate-related content in the SASB Standards.

The ISSB included these enhancements in its 2024–2026 work plan to provide timely support to companies applying IFRS Sustainability Disclosure Standards (ISSB Standards) and to enhance the decision-usefulness of information provided to investors. This work will support implementation of the ISSB Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures and will also benefit the many companies that apply the SASB Standards on a voluntary basis.