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What are IFRS S1 and S2, and what is the ISSB?
The ISSB — International Sustainability Standards Board — is the sustainability counterpart to the body that sets international accounting standards. It publishes IFRS S1 (general sustainability disclosures) and IFRS S2 (climate). Unlike GRI, these are being written into law: Singapore’s and Malaysia’s mandatory climate reporting rules are both built on them.
IFRS S1 sets out how to disclose sustainability risks and opportunities that could reasonably affect your financial position. IFRS S2 does the same specifically for climate, and requires greenhouse gas disclosure calculated to the GHG Protocol — the same measurement standard GRI 305 points to.
The audience is the difference that matters. ISSB standards are written for investors and lenders, and the test is financial: does this affect enterprise value? GRI is written for anyone affected by the business, and the test is impact.
Malaysia adopted IFRS S1 and S2 directly as the basis of its National Sustainability Reporting Framework. Singapore did not adopt them into law by name, but SGX RegCo’s climate disclosure requirements are aligned to IFRS S2.
Sources
- National Sustainability Reporting Framework media release — Securities Commission Malaysia. Checked 2026-09-04.
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Last reviewed 2026-09-04