On June 26, 2023, the International Sustainability Standards Board (“ISSB”) published its long-awaited inaugural global standards for sustainability information: IFRS S1 (General requirements for disclosure of sustainability-related financial information) and IFRS S2 (Climate-related disclosures) (together the “Standards”). The ISSB has also released a related Sustainability Standards Navigator tool and a three-minute video. The aim of the ISSB is for the standards to form the global basis for all sustainability-related disclosures. In this legal update, we examine the disclosures required by the standards and discuss what the introduction of the voluntary measures could mean for entities around the world.
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