Perspectives

Asia Pacific’s Response to the Finalised ISSB IFRS S1 and IFRS S2 Standards

Explore how regulators in Asia Pacific have responded to the ISSB Standards, insights on changes between the Exposure Drafts and the finalised Standards, relief measures, as well as steps you can take to prepare for the emerging reporting landscape.

On June 26, 2023, the International Sustainability Standards Board (ISSB) issued its first two standards, IFRS S1 and IFRS S2, with modifications from the exposure drafts (EDs) in response to stakeholder feedback. These standards address disclosure requirements related to an entity's governance, strategy, risk management, and sustainability-related metrics and targets and mark an important milestone in the standardisation of global corporate sustainability reporting. IFRS S1 and IFRS S2 are intended to improve the alignment and interoperability of global ESG standards, reducing the reporting burden for preparers and enhancing the usefulness of sustainability disclosures for investors in making decisions.

This report provides an overview of the finalised standards and explores how regulators and other key stakeholders in Asia Pacific have reacted. It also provides a roadmap for how companies in the region can get prepared for ISSB-aligned disclosures.

Asia Pacific’s Response to the Finalised ISSB IFRS S1 and IFRS S2 Standards
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