Japan Sets ISSB Timeline

Japan has finalised its timeline for domestic implementation of International Sustainability Standards Board (ISSB) standards. It will issue draft sustainability disclosure standards based on the ISSB standards by 31 March 2024, and finalise its standards by 31 March 2025. The Sustainability Standards Board of Japan (SSBJ) will discuss the effective date later, though the standards will also be available for early application for fiscal years beginning after the issuance of the final standards. Emmanuel Faber, Chair of the ISSB, said: “I commend the SSBJ for its plan to incorporate ISSB standards into Japanese requirements and look forward to building on our productive discussions.” Japan’s Financial Accounting Standards Foundation (FASF) has also signed an MoU with IFRS Foundation trustees. This MoU renews the FASF’s commitment to the IFRS Foundation and its two sister boards, the International Accounting Standards Board (IASB) and the ISSB. It supports IASB technical projects, ISSB capacity building and engagement projects in the region, as well as in integrated reporting projects. 

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