ISSB Webinar Dives into New Digital Taxonomy

ISSB Webinar Dives into New Digital Taxonomy

By Prathamesh 22 May, 2024

The IFRS Sustainability Disclosure Taxonomy (ISSB Taxonomy) on 30 April, the International Sustainability Standards Board (ISSB) has released an explanatory webinar to provide stakeholders with a comprehensive understanding of its key features and benefits.

In the recently published webcast, ISSB Vice-Chair Sue Lloyd and ISSB Technical Staff Tim Kasim introduce the ISSB Taxonomy and elaborate on its significance for investors, companies, and regulators. The ISSB aims to facilitate the adoption and utilisation of the ISSB Taxonomy, thereby enabling stakeholders to harness its capabilities for enhancing sustainability-related financial disclosures.

The webinar provides various insights, including into the taxonomy’s role in digital financial reporting, the process of tagging sustainability-related disclosures, and its alignment with the ISSB Standards. Key features highlighted in the webinar include the granularity of narrative disclosures, categorical elements for efficient analysis, and industry-based guidance for different sectors.

The ISSB digital taxonomies will play an important role in supporting the global baseline for sustainability reporting by enabling jurisdictions to build upon it while ensuring interoperability with other sustainability standards.

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