On 26 June 2023, the International Sustainability Standards Board (“ISSB”) issued its long-awaited inaugural global sustainability disclosure standards: IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) (together, the “Standards”). The ISSB also released a related Sustainability Standards Navigator tool and a three-minute video. The ISSB’s aim is for the Standards to be the global baseline of all sustainability-related disclosures. In this Legal Update, we examine the disclosures required by the Standards and discuss what the passage of the voluntary measures could mean for entities across the globe.
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