Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
On 11 May 2023, the ISSB (International Sustainability Standards Board) published a draft (ED/ISSB/2023/1) for a methodology to improve the international applicability of the SASB standards (Sustainability Accounting Standards Board). The publication is also accompanied by a call for public consultation. Comments and suggestions on the proposed methodology can be submitted until 9 August 2023.
The SASB standards are intended to provide guidance to entities applying the IFRS Sustainability Standards on the general requirements standard (IFRS S1) by helping to identify sustainability-related risks and opportunities and to make appropriate disclosures beyond the area of climate (which is addressed in IFRS S2).
About 20% of the metrics in the SASB standards contain references to specific laws and other country-specific regulations. The revision of these references should help to improve international applicability and eliminate regional biases.
The ISSB aims to revise the metrics within the SASB standards based on the results of the consultation before IFRS S1 becomes effective in January 2024.
The ISSB's draft can be downloaded here.