Civil society organisation Rights CoLab has published a report on the importance and practicalities of integrating human rights due diligence transparency into the ISSB standards.
It argues that IFRS S1 should explicitly require companies to disclose information on each step of their due diligence processes in line with the OECD Guidance, and that due diligence metrics should be built into the SASB sector standards.
Rights CoLab also suggests that the ISSB leverage the existing due diligence metrics in certain SASB standards – in particular, the metrics in the Metals and Mining standard – within the other sector standards.
“These combined measures will better integrate HRDD into ISSB Standards, ultimately supporting both improved materiality assessments and risk identification and enhanced protection of stakeholder and investor interests,” the report reads.