Exposure Draft ISSB/ED/2023/1 Methodology for Enhancing the International Applicability of the SASB® Standards and SASB Standards Taxonomy Updates

The International Sustainability Standards Board (ISSB) is seeking feedback on its proposed methodology for enhancing the international applicability of the Sustainability Accounting Standards Board (SASB) Standards.

A small subset of the metrics included in the SASB Standards—around 20%—incorporate references to specific jurisdictional laws and regulations. Revising these references will help improve international applicability and remove regional bias.

The SASB Standards serve as an important source of guidance in the ISSB’s general requirements standard (IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information) by helping companies to identify sustainability-related risks and opportunities and provide appropriate disclosures beyond climate (which is addressed by IFRS S2 Climate-related Disclosures).

The focus of this proposed methodology is to enhance the international applicability of the SASB Standards without substantially altering the intent or underlying concepts of any specific disclosure topic or metric or increasing the cost of implementation for existing preparers. By constraining the process to these limited objectives, the methodology involves a set of clearly defined procedural revisions to the SASB Standards' original content.

The ISSB’s objective is to revise the metrics within the SASB Standards, based on the outcomes of the consultation, prior to IFRS S1 coming into effect in January 2024.

Click here to download the Exposure Draft. 

Invitation to comment

The Exposure Draft is open for comment until 14 July 2023.

You may provide your comments via email to us at technical@masb.org.my. 

Click here to submit your comments.