EFRAG has launched a public consultation on its Draft Comment Letter in response to the International Sustainability Standards Board (ISSB) Exposure Draft, which proposes significant amendments to SASB Standards and IFRS S2 Industry-based Guidance. The move provides a critical window for European stakeholders to influence the global harmonisation of sustainability reporting.
The ISSB’s underlying consultation targets three specific industries: Electric Utilities & Power Generators, Agricultural Products, and Meat, Poultry & Dairy. These updates represent the final phase of the ISSB’s SASB Standards revision project under its 2024–2026 work plan.
While Europe utilises the European Sustainability Reporting Standards (ESRS), the SASB Standards remain highly relevant for interoperability. Under the draft simplified ESRS 1, European companies are encouraged to use established international frameworks—such as IFRS industry-based guidance—when developing entity-specific disclosures.
EFRAG is seeking to ensure that the ISSB’s proposed changes remain clear, feasible, and compatible with the European reporting landscape.
“EFRAG’s public consultation is a key opportunity to shape the future of sustainability reporting,” the organisation stated. “Your feedback is crucial to help EFRAG shape a European view.”
EFRAG is inviting a broad range of stakeholders—including preparers, auditors, investors, and civil society—to share their perspectives, particularly those operating within the affected agricultural and energy sectors.
- Consultation survey: Stakeholders can submit comments on EFRAG’s Draft Comment Letter via an online survey until 28 June 2026.
- Workshop: EFRAG will also host a dedicated workshop to facilitate deeper technical discussion on the proposals.
The feedback gathered will inform EFRAG’s final submission to the ISSB, whose own global consultation remains open until 24 July 2026. By contributing to this process, European organisations can help ensure that global industry-based standards are practical and aligned with existing regional mandates.
