The IFRS Foundation has announced that 36 jurisdictions around the world are now adopting, or preparing to adopt, the ISSB Sustainability Standards. This marks a strong step forward in the global push for consistent, investor-focused corporate sustainability reporting.
Just six months ago, in November 2024, only 30 jurisdictions were reported to be progressing towards ISSB alignment, up from 20 in May 2024. The growth signals increased consensus among regulators and financial markets that climate and sustainability disclosures must be standardised, investor-focused, and globally interoperable.
17 jurisdictions finalise their ISSB sustainability standards approach
Of the 36 jurisdictions, 17 have finalised their approach and now have public profiles published by the IFRS Foundation. These include Australia, Brazil, Malaysia, Türkiye, and Nigeria – diverse economies representing both developed and emerging markets. Fourteen of these countries aim to fully adopt the ISSB sustainability standards, while others are opting to integrate climate-focused components, such as IFRS S2, into their national frameworks.
The IFRS also released 16 jurisdictional snapshots, offering transparency into countries currently consulting or preparing for implementation. Among these, 12 have published standards either fully aligned or functionally equivalent to ISSB sustainability standards, demonstrating that alignment is becoming the norm, not the exception.
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The road to global baseline
The International Sustainability Standards Board (ISSB), launched at COP26 in 2021, has the explicit mission of establishing a global baseline for sustainability-related financial disclosures. With the release of IFRS S1 (general sustainability-related disclosures) and IFRS S2 (climate-related disclosures) in June 2023, the ISSB moved from concept to execution.
The standards gained significant traction after endorsement by the International Organization of Securities Commissions (IOSCO) in July 2023, which urged global regulators to incorporate the ISSB sustainability standards into national frameworks. This catalysed a fresh wave of adoption interest, particularly among jurisdictions eager to enhance access to international capital and improve investor confidence.
Why it matters for business and finance
For companies, especially multinationals operating across several jurisdictions, the shift towards the ISSB sustainability standards offers much-needed clarity and comparability. Emmanuel Faber, ISSB Chair, highlighted the persistent challenge faced by investors, banks, and insurers: the lack of reliable, consistent information on sustainability risks and opportunities.
Faber stated, “The ISSB Standards are bringing clarity to investors on the risks and opportunities lying in value chains across time horizons in a rapidly changing world.”
Crucially, the growing alignment around ISSB helps avoid regulatory fragmentation. Instead of navigating a patchwork of local standards, businesses can streamline reporting and focus on strategic sustainability performance. For emerging markets, ISSB-aligned disclosures can also help attract sustainable finance and meet international ESG expectations.
Looking ahead
With 36 jurisdictions on board and more finalising their positions, the vision of a global baseline anchored by ISSB sustainability standards is nearing reality. However, successful implementation still depends on building organisational capacity, ensuring data accuracy, and preparing for audit and assurance requirements.
As the IFRS Foundation continues to support jurisdictions with tools and guidance, now is the time for companies to act. Early alignment with ISSB sustainability standards won’t just ease compliance; it will build resilience, investor trust, and long-term value. Explore our corporate training solutions to equip your teams with the knowledge and tools needed to meet emerging ISSB standards with confidence.
