The IFRS Foundation announced today that 36 jurisdictions have adopted or are using the IFRS Sustainability Disclosure Standards (ISSB Standards), with 17 having finalised their approach. This announcement signifies ongoing progress in expanding ISSB-based sustainability requirements. In November 2024, a report indicated that 30 jurisdictions were moving towards adopting these standards, following a May 2024 report highlighting over 20 jurisdictions.
Emmanuel Faber, Chair of the ISSB, commented on the progress: “We have seen new jurisdictions joining the initial cohort of ISSB adopters every month, with a total of 36 today.”
The ISSB, part of the IFRS Foundation, was launched in November 2021 during the COP26 climate conference, aiming to develop sustainability disclosure standards for investors concerning corporate sustainability risks and opportunities. The IFRS released the initial general sustainability (IFRS S1) and climate (IFRS S2) standards in June 2023. After their release, the IOSCO, the international policy forum and standards setter for regulators, urged regulators to integrate these standards into their reporting frameworks.
The IFRS Foundation also published 17 “jurisdictional profiles” and 16 “jurisdictional snapshots.” These documents aim to provide transparency and evidence of progress in adopting ISSB Standards. Profiles are available once a jurisdiction’s approach to sustainability reporting is finalised. The publications demonstrate how ISSB Standards are being integrated and help jurisdictions learn from each other.
The 17 jurisdictions profiled include Australia, Bangladesh, Brazil, Chile, Ghana, Hong Kong SAR, Jordan, Kenya, Malaysia, Mexico, Nigeria, Pakistan, Sri Lanka, Chinese Taipei, Tanzania, Türkiye, and Zambia. Fourteen of these jurisdictions aim to fully adopt the ISSB standards, two are adopting climate requirements, and one is partially incorporating them.
Among the 16 jurisdictions in the snapshots, 12 have published standards fully aligned with ISSB Standards or designed to achieve similar outcomes. Three are proposing standards incorporating a significant portion of the ISSB standards, and one is considering allowing their use. The IFRS Foundation plans to release profiles for these jurisdictions upon finalising their decisions.
Faber remarked, “The ISSB Standards bring clarity to investors on risks and opportunities within value chains across time horizons. A year ago, we committed to publishing detailed jurisdictional profiles to supplement our Inaugural Jurisdictional Guide. These profiles provide a clear picture for investors, banks, and insurers who face challenges due to the lack of appropriate, comparable, and reliable information on crucial factors affecting business prospects.”
