SASBIFRSsustainability

SASB IFRS Sustainability refers to the integration of Sustainability Accounting Standards Board (SASB) standards with International Financial Reporting Standards (IFRS) for sustainability reporting. This initiative aims to create a more unified and globally comparable framework for companies to disclose their environmental, social, and governance (ESG) performance. The Sustainability Accounting Standards Board (SASB) developed industry-specific standards that identify financially material sustainability topics and their associated disclosures. IFRS, on the other hand, is a set of international accounting standards used for financial reporting. The merger of SASB into the International Sustainability Standards Board (ISSB) in 2022 marked a significant step towards this integration. The ISSB, established by the IFRS Foundation, is working to develop a comprehensive global baseline of sustainability disclosure standards. The goal is to provide investors and other stakeholders with consistent, comparable, and reliable information about a company's sustainability risks and opportunities, enabling better decision-making. This convergence seeks to bridge the gap between financial and sustainability reporting, allowing businesses to communicate their full impact and value creation in a more holistic manner. Ultimately, SASB IFRS Sustainability aims to enhance the quality and usability of sustainability disclosures worldwide.