One proposal sets out general sustainability-related disclosure requirements and the other specifies climate-related disclosure requirements. The proposals―exposure drafts—build upon the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and incorporate industry-based disclosure requirements derived from SASB Standards.
When the ISSB issues the final requirements, they will form a comprehensive global baseline of sustainability disclosures designed to meet the information needs of investors in assessing enterprise value. The ISSB is working closely with other international organisations and jurisdictions to support the inclusion of the global baseline into jurisdictional requirements.
The ISSB is seeking feedback on the proposals from everyone that is a stakeholder to its work over a 120-day consultation period closing on 29 July 2022. It will review feedback on the proposals in the second half of 2022 and aims to issue the new Standards by the end of the year, subject to the feedback.
Further information can be found here: IFRS: ISSB delivers proposals that create comprehensive global baseline of sustainability disclosures