Consultation to enhance the International Applicability of the SASB Standards now open

The ISSB is seeking feedback on the Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates, as enhancements will preserve the structure, completeness and intent of the SASB Standards.
The SASB Standards are already being used by more than 2,700 companies in over 70 jurisdictions worldwide, including 72% of the S&P Global 1200 Index. The ISSB now governs the SASB Standards and is responsible for their maintenance and enhancement. The ISSB is seeking targeted amendments to the SASB Standards to ensure that the references within them are internationally applicable.
Around 20% of the metrics included in the SASB Standards contain references to specific jurisdictional laws and regulations. These references will be revised to remove regional bias and improve international applicability. The SASB Standards are important for companies in identifying sustainability-related risks and opportunities and providing appropriate disclosures beyond climate. The ISSB’s objective is to revise the metrics within the SASB Standards based on the consultation’s outcomes before IFRS S1 comes into effect in January 2024.
The enhancements to the SASB Standards aim to ensure that entities can apply them regardless of their location or GAAP they use. The ISSB seeks feedback on the targeted revision approaches encompassed by the Methodology and the associated updates to the SASB Standards Taxonomy the revisions may require. The Exposure Draft includes the details of the Methodology implementation and various examples of proposed revisions.
Stakeholders can respond to the Exposure Draft by submitting an online survey, with questions identical to those in the Exposure Draft. While submitting to the online survey is prefered, stakeholders may also submit a comment letter. The consultation is open for comments until 9 August 2023.