Korea publishes Exposure Draft of the Sustainability Disclosure Standards
Korea publishes Exposure Draft of the Sustainability Disclosure Standards
The Korea Sustainability Standards Board (KSSB) of the Korea Accounting Institute (KAI) has published the Exposure Draft of the ‘Korean Sustainability Disclosure Standards’ applicable to domestic companies. The proposed standards are based on IFRS S1 and IFRS S2 issued by the ISSB.
The proposed standards consist of:
The proposed standards consist of:
- Sustainability Disclosure Standard 1 (KSSB 1) General Requirements for Disclosure of Sustainability-related Financial Information: This is a mandatory standard based on IFRS S1.
- Sustainability Disclosure Standard 2 (KSSB 2) Climate-related Disclosure: This is a mandatory standard based on IFRS S2.
- Sustainability Disclosure Standard 101 (KSSB 101) Additional Disclosure aligned with Policy Objectives: This is a non-mandatory country-specific standard that allows companies to selectively disclose additional sustainability-related information as required by domestic laws or to meet the sustainability-related policy objectives.