ISSB Proposes Amendments to SASB Standards and IFRS S2 Guidance

Posted 09 June 2026 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The International Sustainability Standards Board (ISSB) has released an Exposure Draft proposing key amendments to the Sustainability Accounting Standards Board (SASB) Standards and the Industry-based Guidance on Implementing IFRS S2 Climate-related Disclosures.

The proposed amendments aim to align the climate-related content within the SASB Standards with the IFRS S2 industry-based guidance. Because the IFRS S2 industry-based guidance is derived directly from the SASB Standards, the ISSB is proposing these consequential amendments to maintain consistency and comparability across both reporting frameworks.

The Exposure Draft focuses on the following primary areas:

  • Proposed amendments to three specific SASB Standards prioritised by the ISSB for comprehensive review.
  • Enhancements designed to improve the clarity, conciseness, and cost-effectiveness of the SASB Standards for preparers.
  • Alignment of climate-related disclosure metrics to ensure identical application across both SASB and IFRS S2 frameworks.

The SASB Standards remain a critical source of guidance for entities applying IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information), helping preparers develop decision-useful disclosures when no specific IFRS Sustainability Disclosure Standard exists.

The ISSB proposes that the effective date for these amendments will be established between 12 and 18 months after their final issuance, with early application permitted. The final effective date will be determined following the consideration of public feedback on the Exposure Draft.

Click here to download the 226-page Exposure Draft and access the 82-page Basis for Conclusions.

What this means for you, your business, or your clients

  • For yourself: You must familiarise yourself with the proposed structural changes to SASB and IFRS S2 to maintain your advisory competency in sustainability and climate-related financial disclosures.
  • For your business: Your accounting or advisory firm must update its sustainability reporting templates, audit methodologies, and training modules to incorporate these aligned industry-based metrics.
  • For your clients: Corporate clients currently preparing or transitioning to IFRS S1 and IFRS S2 reporting must review these industry-specific amendments to identify potential changes in their data collection requirements and disclosure processes.

Originally published at https://accountingacademy.co.za/news/read/issb-proposed-amendments-to-the-sasb-standards-and-ifrs-s2-industry-based-guidance

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