The International Sustainability Standards Board (ISSB) has come up with proposed amendments to the SASB Standards to update climate-related and nature-related reporting requirements for various sectors.

These proposed amendments have been put out in the public domain to seek feedback. The sectors covered under this include mining, oil and gas, agriculture, transport, infrastructure, and consumer goods. Comments on these proposals can be submitted until November 30, 2026.

Based on the proposal document, it seems that these proposals seek to modify industry-specific indicators and disclosures related to greenhouse gas emissions, water management, biodiversity, and natural resource usage.

The ISSB said the review was prompted by developments in environmental reporting and changes in the availability of scientific and market data since the standards were first published. Several disclosure topics have been updated to reflect current reporting practices and environmental risks faced by companies.

SASB Standards are used by companies to report sustainability-related information that may affect financial performance. Since 2022, responsibility for the standards has been held by the ISSB, which operates under the IFRS Foundation.

Among the proposed revisions are updates to climate-related metrics in industries with high emissions and additional guidance on nature-related issues in sectors that depend heavily on land, water and biological resources. The consultation document also proposes revisions to definitions, measurement methods, and reporting guidance in some industries.

The proposals do not create legal reporting obligations. Companies would only be required to apply the revised standards if regulators, stock exchanges, or organisations adopting the standards decide to incorporate the changes into their reporting frameworks.

There has been an increase in interest in nature-related reporting in recent times due to investor and regulator demand for information on biodiversity loss, water availability, and ecosystems. Although there have been increases in climate-related disclosures, nature-related risk disclosures remain inconsistent across different industries.

The ISSB is currently seeking feedback from various stakeholders, including companies, investors, industry associations, academics, and others. Once the feedback has been received, the board will evaluate whether there is a need for any changes to be made prior to adopting the amendment.

No date has been announced for the publication of the final version of the revised standards.