The meaning of “sustainability-related,” or: you left out the humans!

John Hughes IFRS Blog

As we’ve addressed many times, the International Sustainability Standards Board issued its first two exposure drafts, General Sustainability-related Disclosures (S1) and Climate-related Disclosures (S2), which were both open for comment until July 29, 2022.

The core objective of S1 “is to require an entity to disclose information about its significant sustainability-related risks and opportunities that is useful to the primary users of general purpose financial reporting when they assess enterprise value and decide whether to provide resources to the entity.” But the exposure draft doesn’t provide a definition of that central term “sustainability-related” – something commented on in one way or another by plenty of commenters (Deloitte for instance said “we believe it would be helpful for the ISSB to explain the types of information that may be covered.”). Consequently, the ISSB arrived at the following:

  • In its session on 13 December 2022, the ISSB agreed how to describe…

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