Oversight of the SASB Standards has transitioned from the SASB Standards Board to the International Sustainability Standards Board (ISSB) of the IFRS Foundation. The IFRS Foundation transparently provides stakeholders with a view into the ISSB’s agenda, activities, deliberations, decisions, active projects and other standards-related updates.
As foundational work in 2023, the ISSB will enhance the international applicability of the SASB Standards and continue SASB Standards projects handed over by the VRF. In other words, the ISSB is not just preserving the SASB Standards, it is updating and improving them to provide a solid footing when companies use them when applying the new IFRS Sustainability Disclosure Standards. As part of that process, a group of ISSB members—chaired by Jeff Hales, former Chair of the SASB Standards Board—has been established and tasked with developing recommendations for the ISSB related to the maintenance, evolution and enhancement of the SASB Standards. The group will develop drafts of the required exposure drafts of amendments to the SASB Standards and, after considering the stakeholder feedback, drafts of the final amendments. The ISSB as a full board will consider the recommendations of this group in ISSB meetings (which are public) and ratify the exposure drafts and, subsequently the final amendments prepared by the group. The comment period for the exposure drafts will be the same as for those related to IFRS Sustainability Disclosure Standards.
Visit the IFRS Foundation notifications dashboard to stay informed about the work of the ISSB.