ISSB updates SASB standards

The International Sustainability Standards Board (ISSB) assumed responsibility for the SASB Standards from August 2022 and has committed to maintain, enhance and evolve them. 

In December 2023, the ISSB published updates to the SASB Standards to enhance their international applicability. 

The updates remove and replace jurisdiction-specific references and definitions without substantially altering the structure or intent of the SASB Standards. 

The changes are intended to help preparers apply the SASB Standards (which cover 77 industries) regardless of their geographic location. 

The ISSB’s disclosure standard IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) requires preparers to refer to and consider the SASB Standards in identifying sustainability-related risks and opportunities, if no relevant IFRS sustainability disclosure standard is available.

For more information on the ISSB standards, see our previous blog  post.