The International Sustainability Standards Board (ISSB) has released the IFRS Sustainability Disclosure Taxonomy (ISSB Taxonomy), facilitating the efficient analysis of sustainability-related financial disclosures by investors and other capital providers.
Firms ‘ utilization of the ISSB Taxonomy will empower investors to efficiently search, extract, and compare sustainability-related financial disclosures as the ISSB establishes its global benchmark of standards.
This Taxonomy mirrors the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, IFRS S2 Climate-related Disclosures, and their accompanying guidance. It has been crafted to foster communication between companies and investors without imposing new obligations or impacting a company’s adherence to the Standards. Informed by feedback from the market, the Taxonomy enables companies to label information prepared using ISSB Standards consistently.
Designed to be consistent with the IFRS Accounting Taxonomy, the ISSB Taxonomy enables companies to furnish investors with a comprehensive digital financial reporting package. It can seamlessly integrate with other digital taxonomies.