The International Sustainability Standards Board (ISSB) proposed, in an exposure draft, amendments to three industry-specific Sustainability Accounting Standards Board (SASB) standards.
The proposed amendments cover Agricultural Products; Meat, Poultry & Dairy; and Electric Utilities & Power Generators.
The amendments are consistent with the proposals from last year’s consultation on the first nine of the 12 prioritised SASB standards, a news release said. The amendments are intended to:
- Align the language and concepts in the SASB standards with ISSB standards.
- Improve the international applicability and decision-usefulness of disclosures.
- Support interoperability with other standards while remaining focused on the information needs of investors.
- Maintain alignment between climate-related content in the SASB standards and the ISSB’s Industry-Based Guidance on Implementing IFRS S2, which will be amended to align with any proposed changes that are approved.
“We know that industry-specific information is decision-useful to investors. That’s why entities applying ISSB standards are required to disclose industry-specific information to meet investor needs. The SASB standards help companies to meet this requirement,” ISSB Vice-Chair Sue Lloyd said in the release.
Stakeholder feedback on the ISSB’s exposure draft is sought by 24 July.
— To comment on this article or to suggest an idea for another article, contact Steph Brown at Stephanie.Brown@aicpa-cima.com.
