ISSB Publishes Proposed IFRS Sustainability Disclosure Taxonomy

ISSB Publishes Proposed IFRS Sustainability Disclosure Taxonomy

By Prathamesh 31 July, 2023

This week, the International Sustainability Standards Board (ISSB) marked a significant milestone in advancing sustainability reporting by publishing the Proposed IFRS Sustainability Disclosure Taxonomy.

This taxonomy enables digital tagging of information required by the ISSB Sustainability standards, facilitating structured digital reporting of sustainability-related financial information prepared applying the ISSB Standards.

This progress follows the publication of two exposure drafts in March 2022, the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. Based on the feedback received for these exposure drafts, a staff draft was released in November 2022 to consider staff research and incorporate further stakeholder feedback. The recently published Proposed IFRS Sustainability Disclosure Taxonomy incorporates these insights and is now open for public consultation.

The ISSB invites stakeholders to give feedback on the Proposed Taxonomy – the consultation period is open until 23 September. Feedback will be reviewed with the final digital taxonomy expected in early 2024. Additionally, a webinar is scheduled for 3 August to delve into the content in detail.

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