ISSB to develop practice statement on nature disclosures rather than new standalone nature standard

In April 2026, the International Sustainability Standards Board (ISSB) announced that it will not to develop a standalone nature standard or amend the existing IFRS S1 or S2 to include nature-related provisions. Instead, the ISSB will publish an “IFRS practice statement”, setting out application guidance, related definitions and disclosure datapoints that report preparers can choose to apply if nature-related information is judged to be material (see ISSB press release). 

The ISSB intends to consult on an exposure draft in October 2026. Respondents will also be able to indicate their preference for the proposed measure versus developing standalone standards or integrating nature into the existing ISSB framework. 

The ISSB pointed out that the decision is not indicative of the importance that the ISSB regarded nature topics, but rather it is designed to prevent disruption from the implementation of the existing ISSB standards.

The ISSB has stressed that the existing standards already require the disclosure of nature-related information. IFRS S1 requires the reporting of material information on all sustainability-related risks and opportunities, and report preparers must also consider the relevance of industry-based SASB standards. In addition, IFRS S2 requires reporting of nature-related material information that is associated with climate-related risks and opportunities. 

The ISSB’s work will draw on the framework developed by the Taskforce on Nature-related Financial Disclosures (TNFD). 

For more information on the ISSB and TNFD, see our Quick Guides:

• ESG Quick Guide: ISSB standards
• ESG Quick Guide: TNFD