Highlights
Many companies use SASB Standards1 to provide decision-useful information to investors. These industry-based standards are set to change.
The International Sustainability Standards Board (ISSB) has launched a consultation on proposed amendments to a further three industry standards as part of its Enhancing the SASB Standards initiative. The industries affected are: agricultural products; meat, poultry and dairy; and electric utilities and power generators.
These proposals follow proposed amendments to nine other industry standards that were published in July 2025.
The amendments2 are intended to support the high-quality implementation of IFRS S1 and IFRS S23, which require industry-based disclosures.
What changes are proposed?
Overall the proposals affect 53 of the 77 SASB Standards. This includes comprehensive amendments to 12 standards – nine in the first batch and three in the second – and targeted amendments to a further 41 standards.
Why does this matter?
Industry-based disclosures play an integral role in the sustainability reporting ecosystem. Standards that provide relevant industry-specific guidance help to make disclosures consistent and comparable between companies and provide investors with decision-useful information4.
The proposals seek to align the language of the SASB Standards more closely with IFRS® Sustainability Disclosure Standards and enhance interoperability with other frameworks, including the Global Reporting Initiative (GRI) and the Taskforce on Nature-related Financial Disclosures (TNFD).
This would increase the usefulness of the SASB Standards as industry-based guidance for all preparers. The proposals may be especially helpful, given that sector-specific reporting requirements are likely not to be included in updates to the European Sustainability Reporting Standards (ESRS)5.
What’s the impact?
Together, the two sets of proposals would introduce new disclosure topics and metrics, and change or delete existing ones across a broad range of industries. They would therefore affect how companies determine what to disclose, whether they:
- already comply with the SASB Standards;
- plan to comply; or
- use them as a source of guidance – e.g. when applying IFRS S1.
With these proposals the ISSB is indicating its approach to industry-based guidance for all industries; therefore, even companies beyond the industries covered by the initial comprehensive amendments need to consider how they may be affected.
In particular, companies may benefit from understanding the proposed changes to nature-related topics under SASB. This is because the ISSB intends to rely on SASB Standards for metrics in its forthcoming requirements and guidance for nature-related reporting.
What’s next?
The ISSB is consulting on its second batch of proposed amendments. The comment period is open until 24 July 2026.
The comment period for the previously proposed amendments closed on 30 November 2025 and the ISSB is considering the feedback received.
All of the amendments are expected to come into effect 12 to 18 months after they are finalised, but early adoption would be permitted.
Actions for management
- Read the proposals and understand how they may affect you irrespective of which standards and frameworks you are currently using, or plan to use.
- Consider how the amended SASB Standards may help you to report industry-based, investor-relevant information. For example, evaluate potential impacts on your:
- materiality assessment;
- disclosure gap assessment; and
- systems, processes and controls.
- Take this opportunity to have your say by 24 July 2026.
For further information on the proposals, speak to your KPMG contact and visit kpmg.com/ifrs to keep up to date with the latest news and discussion.
1 The SASB Standards were first published by SASB in 2018. They are governed by the ISSB following the Sustainability Accounting Standards Board’s (SASB) merger with the International Integrated Reporting Council (IIRC) into the Value Reporting Foundation (VRF) and subsequent consolidation into the IFRS Foundation in 2022.
2 As well as proposing updates to the SASB Standards, the ISSB proposed consistent amendments to its Industry-based Guidance on Implementing IFRS S2. It was created based on the SASB Standards.
3 IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.
4 IFRS S1 requires companies to refer to and consider the SASB Standards, whereas IFRS S2 requires companies to refer to and consider Industry-based Guidance on Implementing IFRS S2.
5 ESRS already identify the ISSB’s Industry-based Guidance on Implementing IFRS S2 as a source of guidance for industry-specific information. The ISSB has proposed to update this guidance to maintain consistency with the SASB Standards.
© 2026 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved.