Sustainability Section - Doing Business
You will find here a series of summaries providing an overview of useful sustainability regulations, processes and sustainability issues for Doing Business in Thailand.
ISSB publishes summary of the IFRS Sustainability Symposium
On 6 March 2023, the ISSB published a summary (available here) of the key points discussed at the IFRS Sustainability Symposium in Montreal on 17 February.
ISSB concludes discussions on draft IFRS Sustainability Disclosure Standards
At its February 2023 meeting, the International Sustainability Standards Board (ISSB) concluded its redeliberations on the content of the future standards IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 – Climate-related Disclosures, having now reached (tentative) decisions on all the major issues.
ISSB continues discussions on draft IFRS Sustainability Standards
At its January 2023 meeting, the International Sustainability Standards Board (ISSB) continued its redeliberations on the content of the future standards IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 – Climate-related Disclosures. The discussions build on the (tentative) decisions already reached over the preceding months.
ISSB office to open in Beijing
On 29 December 2022, the IFRS Foundation announced that it had signed a Memorandum of Understanding with the Ministry of Finance of China to establish a new office in Beijing (press release accessible here).
Establishment of an advisory forum to assist the ISSB in its sustainability standards works
On 21 December 2022, the IFRS Foundation announced the creation of a Sustainability Standards Advisory Forum (SSAF) (press release accessible here). The role of the SSAF will be to support the ISSB in building a global baseline for sustainability information by providing it with technical advice.
ISSB consults on its work plan
ISSB consults on its work plan following the December 2022 meeting and drawing on the feedback received from the various stakeholders on its two-year work plan, the ISSB members
Ongoing discussions within the ISSB on the draft IFRS on sustainability disclosures
At its December 2022 meeting, the ISSB continued to deliberate on the content of the future standards IFRS S1
ISSB announcements at COP15: description of the concept of sustainability and incorporation of two new theme in its work plan
During the 15th United Nations conference on biodiversity (COP15) held in Montreal in December 2022, ISSB members agreed how to describe the concept of sustainability and clarified that a company’s ability to deliver value for its investors is inextricably linked to (i) the stakeholders it works with and serves, (ii) the society it operates in, and (iii) the natural resources it draws on.
ISSB priorities for the coming months
At its October meeting, the ISSB also discussed its priorities for the coming months. In view of the need to finalise IFRS S1 and S2 as quickly as possible, and the importance of these two standards which will form the bedrock of the IFRS sustainability disclosure framework, the ISSB has decided to postpone the launch of the public consultation on its two-year work plan until the first half of 2023 (rather than the fourth quarter of 2022 as originally planned).
Industry-based requirements
Appendix B of the draft IFRS S2 standard comprised industry-based requirements derived from standards developed by the Sustainability Accounting Standards Board (SASB).