Abstract:
Establishing the International Sustainability Standards Board (ISSB) by the IFRS Foundation marks
a significant advancement in the standardisation of global sustainability-related disclosure. This
study systematically reviews peer-reviewed literature from the Emerald database, concentrating
on stakeholder responses, materiality discussions, implementation issues, and future direction
concerns related to IFRS S1 and S2. The results underscore robust stakeholder endorsement of
the ISSB’s objectives while causing significant apprehensions regarding legitimacy, inclusivity,
and its singular materiality framework. The dominance of preparers in consultations and the
insufficient representation from developing nations underscore power imbalances in standard-
setting. Implementation problems encompass institutional power dynamics and possible
misalignment with Sustainable Development Goals. The ISSB’s investor-centric methodology
improves comparability, however its limited materiality breadth may compromise wider
environmental and social goals. Future advancement hinges on the ISSB’s capacity to rectify
legitimacy deficiencies, guarantee inclusive engagement, and integrate holistic sustainability
viewpoints.
