Data Amplified Virtual 2022: What’s Next For ISSB Sustainability Standards?

Data Amplified Virtual 2022: What’s Next For ISSB Sustainability Standards?

By Devlekar 28 December, 2022

Data Amplified this year saw significant sessions on the policy and practice driving digital sustainability disclosures. Bing Leng, Board Member of the International Sustainability Standards Board (ISSB), gave a thorough run down of the processes, governance procedures, and reiterations that are leading to a new global baseline for sustainability disclosure.

While Leng highlighted the many milestones the ISSB has passed to get to where it is now – and ISSB wish to congratulate everyone involved in making so much progress so rapidly – he also highlighted some of the ISSB’s future priorities. These include supporting adoption, ensuring interoperability, and developing a digital taxonomy.

Looking ahead, Leng noted that the ISSB plans to develop the digital taxonomy which will accompany the standard, and it should be available in the first half of 2023. The concurrence of the standard and taxonomy means that the taxonomy will be available well ahead of regulator adoption of the standards so that jurisdictions will be able to use the taxonomy to report on the standards digitally without delay. He also suggested that the building block approach used by the ISSB standards will also apply to the XBRL taxonomy, allowing jurisdictions to add local aspects that are relevant for their stakeholders.

To find out more details please visit : https://xbrl.org/