ISSB Publishes Digital Taxonomy for Sustainability Disclosures

The International Sustainability Standards Board (ISSB) of the IFRS Foundation has launched the IFRS Sustainability Disclosure Taxonomy (ISSB Taxonomy), a digital tool that enables investors to analyze sustainability-related financial disclosures based on the ISSB’s recently released sustainability and climate reporting standards. The ISSB Taxonomy allows investors to search, extract, and compare sustainability-related financial information, supporting the establishment of global standards by the ISSB. The taxonomy is designed to enhance accessibility and comparability of sustainability disclosures for investors, and it is aligned with the IFRS Accounting Taxonomy, enabling companies to provide holistic reporting packages and facilitating its use with other digital taxonomies. The ISSB, launched in November 2021, aims to develop IFRS Sustainability Disclosure Standards in response to the growing demand for consistent disclosure requirements on sustainability risks and opportunities. In June 2023, the board introduced its inaugural general sustainability and climate reporting standards, which are expected to shape emerging disclosure systems globally. The ISSB Taxonomy, released soon after the standards, plays a critical role in promoting transparency and efficiency in capital markets, enabling companies and investors to process sustainability-related financial disclosures digitally in line with the ISSB Standards. Resources: https://www.esgtoday.com/issb-publishes-digital-taxonomy-for-sustainability-disclosures/