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Response from ISSB Chair: summary of points on IFRS S1 and IFRS S2 for ISSB’s consideration
07 March 2025
Opernplatz 14 60313 Frankfurt am Main Germany
TAC Chair Ms Sally Duckworth UK Sustainability Disclosure TAC
Tel +44 (0) 20 7246 6410 Email [email protected]
Dear Sally,
Thank you for your letter. We greatly appreciate the thorough and consultative approach taken in the UK and the progression of the adoption process. I congratulate the TAC on reaching this important milestone.
We note the key matters which you have highlighted, particularly the need for educational material to support the implementation of the ISSB Standards. Supporting the adoption and implementation of IFRS S1 and IFRS S2 remains the top priority for us in our technical work and we continue to develop educational materials to support implementation, on top of our engagement with other standard-setters and regulatory bodies.
We will carefully consider the detailed points outlined in your appendix and welcome further discussions as needed. Some of the matters you raise will specifically be addressed in our forthcoming Exposure Draft on amendments to IFRS S2, for example in relation to application challenges associated with the requirement to use the Global Industry Classification Standard (GICS). I encourage your participation and input into our consultation process on this matter. Your thoughts and expertise in relation to how best to address the application challenges identified will be much appreciated given the thorough analysis we know you have undertaken in reaching your endorsement recommendation.
We look forward to maintaining close collaboration with the UK TAC and other relevant stakeholders through this process, and once again, congratulations on your progress.
Sincerely,
Emmanuel Faber ISSB Chair [email protected]
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