CIRI Issues Advocacy: CIRI Submission to ISSB on Sustainability-related Financial Information

On July 28,CIRI submitted our recommendations to the International Sustainability Standards Board (ISSB) on the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (Exposure Draft). CIRI commends the IFRS and ISSB for working towards a single framework that would provide consistent, complete and comparable sustainability-related disclosure.

In CIRI's submission, we highlight two areas of concern in the Exposure Draft. The first relates to the term 'significant' to describe sustainability-related risks and opportunities. CIRI suggests that 'significant' be replaced with 'material' – a clearly defined and understood concept as it relates to issuer disclosure. The second issue relates to timing. Given the amount of time required to collect, analyze, address inconsistencies and report sustainability-related information, CIRI recommends issuers be given up to six months to prepare and publish sustainability-related financial disclosure.

To read the full submission, click here.