The IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB) (also referred to as the ISSB Standards) form the global baseline for sustainability-related disclosures and build upon the SASB Standards and the TCFD Recommendations. Through IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, the ISSB requires companies to consider the SASB Standards, in the absence of specific IFRS Sustainability Disclosure Standards, to identify sustainability-related risks, opportunities and related information to disclose.
The SASB Standards are used in over 3,200 companies in more than 80 jurisdictions around the world, including 75% of the S&P Global 1200 Index, because industry-based sustainability disclosures are cost-efficient for companies and decision-useful for investors. Businesses worldwide use SASB Standards to better identify, manage and communicate the material information about sustainability-related risks and opportunities they face.
Companies that apply the SASB Standards now will find they are an efficient solution for disclosing sustainability information and a solid foundation for adopting IFRS Sustainability Disclosure Standards in the coming years.