On Thursday 27 July, the International Sustainability Standards Board (ISSB) announced that it had published its draft taxonomy of sustainable development disclosures according to the IFRS standards.
In its press release, the ISSB stated that “a common digital taxonomy is necessary to facilitate structured digital reporting of sustainability-related financial information prepared applying the ISSB Standards”. The aim is to “improve the global accessibility and comparability of sustainability information for investors worldwide”.
The proposals reflect the disclosure requirements in the first two ISSB standards: IFRS S1 and S2 published in June (see EUROPE 13218/14, 13230/28) on sustainability and climate-related financial reporting.
“The IFRS Sustainability Disclosure Taxonomy will play the same role as the IFRS Accounting Taxonomy in enabling digital tagging of information required by the IFRS Standards”, explained ISSB Chairman Emmanuel Faber in the press release. “These taxonomies differ from taxonomies established by jurisdictions to classify economic activities as environmentally sustainable”, he added.
The ISSB has launched a consultation on this project until Tuesday 26 September. It will consider comments on the proposals in the second half of 2023, with a view to publishing the final digital taxonomy in early 2024.
Further information: https://aeur.eu/f/896 (Original version in French by Anne Damiani)