ISSB Launches Comprehensive SASB Standards Update for Nine Priority Industries

The IFRS Foundation's International Sustainability Standards Board has published exposure drafts proposing amendments to sector-focused SASB sustainability reporting standards for nine priority industries, including oil and gas, metals and mining, construction materials, coal operations and processed foods. The drafts are open for comment until November 30.

The SASB standards, consolidated into the ISSB in 2022, cover 77 industries and provide industry-specific disclosure guidance on sustainability-related risks and opportunities. Companies applying the ISSB's IFRS S1 and S2 standards are required to refer to and consider the applicability of SASB standards when preparing disclosures. The new exposure drafts cover nine industries identified as priorities for an initial update, including extractive sectors and selected Food and Beverage standards, along with alignment updates for 41 industries on topics including Water Management and Workforce Health and Safety. Proposed updates to industry-based guidance for IFRS S2 implementation are also included.

The ISSB's review of SASB standards marks the first comprehensive opportunity for IFRS Foundation stakeholders to provide input on the cost-effectiveness and decision-usefulness of the sector standards in the context of the broader ISSB framework. Development of the proposed amendments included frequent engagement with GRI, EFRAG and the TNFD to improve alignment and interoperability, and attention was paid to ensuring international applicability across different jurisdictions and market contexts. ISSB Vice-Chair Sue Lloyd noted that the review 'further aligns the language and concepts in the SASB Standards with the ISSB Standards.'

The ISSB intends to finalise the proposed enhancements in 2026 and plans to publish additional exposure drafts for three more SASB standards, including Electric Utilities and Power Generators and two from the Food and Beverage sector. For Indian companies in industries covered by the initial review, including metals and mining and oil and gas, the updated SASB standards will provide more directly applicable guidance for ISSB-aligned disclosures. As India develops its own regulatory approach to ISSB adoption, the updated sector-specific guidance will be relevant for regulators and companies determining the practical scope of required industry disclosures.

Key figure — 77 industries covered by SASB standards; 9 industries prioritised for the initial update