International Sustainability Standards Board

With growing awareness of sustainability challenges and especially climate change, the need for a specific framework for sustainability-related disclosures has been recognized by environmentalists, standard setters, reporting companies and the financial industry.

[2] Separately, the Sustainability Accounting Standards Board (SASB) was created in 2011 in San Francisco with a focus on U.S. securities disclosures.

[3] In June 2021, the IIRC and SASB announced their combination to form the Value Reporting Foundation (VRF).

[4] The creation of the ISSB was announced at the 2021 United Nations Climate Change Conference (COP26) in Glasgow in November 2021.

In late March 2022, the ISSB published its first two exposure drafts, on climate and general sustainability-related financial disclosures respectively.