I plan to adopt the ISSB Standards. Why should I continue to use the SASB Standards? How long will they be supported?

Whether you are planning to adopt the ISSB Standards early or in 2024¹, adopting or continuing to use the SASB Standards will help you because:

• IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information requires companies to consider the SASB Standards, knowing that those 77 industry-based disclosure standards provide investors with comparable, decision-useful information.
• IFRS S2 Climate-related Disclosures requires industry-specific disclosures and provides industry-based metrics derived from the SASB Standards as illustrative guidance.
• The ISSB intends to make the industry-based metrics mandatory in the future, subject to consultation.

The ISSB actively encourages preparers and investors to continue to use the SASB Standards. They will be maintained and enhanced, through rigorous due process, under the ISSB throughout their continued existence.

¹The first two ISSB Standards are effective for reporting periods beginning on or after January 1, 2024. Early adoption is permitted but must be disclosed. Various transition reliefs are available, including the ability for an entity to report on only climate-related risks and opportunities (as set out in IFRS S2) in the first year it applies IFRS S1 and IFRS S2. The SASB Standards as well as all SASB Standards implementation tools and resources, now part of the IFRS Foundation, are still accessible via sasb.org.