The International Sustainability Standards Board (ISSB)

The International Sustainability Standards Board (ISSB) was established in November 2021 by the International Financial Reporting Standards (IFRS) Foundation Trustees to work alongside the International Accounting Standards Board (IASB) to develop the IFRS Sustainability Disclosure Standards. Established in 2001, the IFRS is a not-for-profit organization to develop a single set of global accounting [and now sustainability] disclosure standards to bring transparency and accountability to financial markets.

The IFRS Foundation has consolidated into the ISSB the Climate Disclosure Standards Board (CDSB) and by June 2022 will also be consolidating the Value Reporting Foundation (VRF), which comprises the Sustainability Accounting Standards Board (SASB) and the International Integrated Reporting Council (IIRC). 

In March 2022, the ISSB launched consultations on two proposed standards—one on general sustainability-related disclosure requirements and one on climate-related disclosure requirements. Final versions are expected by the end of 2022. These prototypes result from six months of work by the CDSB, IASB, TCFD, VRF and the World Economic Forum (WEF). They are supported by the International Organization of Securities Commissions (IOSCO). The IFRS Foundation has also signed a collaboration agreement with the GRI to coordinate their standard-setting activities. 

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