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ISSB (IFRS S1 and S2)


The International Sustainability Standards Board (ISSB) was created in 2021 by the IFRS Foundation. Following strong market demand, the ISSB developed sustainability standards that aim to provide a global baseline of sustainability disclosures focused on the needs of investors and the financial markets.

Scope & Adoption

The first two ISSB Standards, IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) are effective for reporting periods beginning after 1 January 2024.

ISSB defines the standards as below;

  • IFRS S1 proposes general requirements for an entity to disclose sustainability-related financial information about its sustainability-related risks and opportunities.
  • IFRS S2 requires an entity to disclose its climate-related risks and opportunities that may be useful to clients of general purpose financial reports in making decisions relating to providing resources to the entity.

Why it Matters

The ISSB’s work is backed by the G7, the G20, IOSCO, the Financial Stability Board, African Finance Ministers and by Finance Ministers and Central Bank Governors from over 40 jurisdictions. It aims to develop standards for a global baseline of sustainability disclosures. It targets the informational needs of investors and enables companies to provide comprehensive sustainability information to global capital markets. In addition, it aims to facilitate interoperability with jurisdiction-specific disclosures and/or aimed at broader stakeholder groups.

Reporting Process

The reporting process of IFRS S1 & S2 is the same as for GRI and SASB; organisations will disclose to the IFRS S1 & S2 alongside their financial reporting year.

Alignment with other frameworks

  • TCFD: IFRS S2 fully incorporates the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations.
  • SASB: IFRS S1 & S2 can be used in conjunction with SASB Industry Specific Standards to provide investors with the information they need about sustainability-related risks and opportunities

ISSB with Nossa Data

Nossa Data supports the IFRS S1 and IFRS S2 standards for companies to respond to within the platform. Clients have access to IFRS Sustainability standards templates and can produce a disclosure to be included in their general purpose financial reports.

Start your IFRS sustainability disclosures with Nossa Data


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