ISSB Trivia 2 — Questions and Answers
Question 1: In which city is the ISSB headquarters located?
- London, UK
- New York, USA
- Frankfurt, Germany (Correct answer)
- Geneva, Switzerland
Correct answer: Frankfurt, Germany
The ISSB is headquartered in Frankfurt, Germany, with additional offices in other cities.
Question 2: What was the primary climate-related disclosure framework that IFRS S2 built upon?
- GRI Standards
- CDP Framework
- TCFD Recommendations (Correct answer)
- SASB Standards
Correct answer: TCFD Recommendations
IFRS S2 is explicitly built upon and aligned with the TCFD (Task Force on Climate-related Financial Disclosures) recommendations.
Question 3: Which two organizations were consolidated into the ISSB upon its formation?
- GRI and SASB
- CDSB and VRF (Correct answer)
- CDP and IIRC
- TCFD and UNGC
Correct answer: CDSB and VRF
The Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation (VRF) were consolidated into the ISSB.
Question 4: What is the primary audience for ISSB sustainability disclosures?
- Government regulators and tax authorities
- General public and civil society
- Investors and capital market participants (Correct answer)
- Employees and trade unions
Correct answer: Investors and capital market participants
ISSB standards are designed with investors and capital market participants as the primary audience, focusing on investor-relevant information.
Question 5: What concept requires companies under IFRS S1 to disclose sustainability risks and opportunities across their entire value chain?
- Double materiality
- Enterprise value materiality
- Financial materiality (Correct answer)
- Dynamic materiality
Correct answer: Financial materiality
ISSB uses a financial materiality (single materiality) lens, requiring disclosure of information material to enterprise value creation across the value chain.
Question 6: Who was appointed as the inaugural Chair of the ISSB?
- Hans Hoogervorst
- Emmanuel Faber (Correct answer)
- Andreas Barckow
- Erkki Liikanen
Correct answer: Emmanuel Faber
Emmanuel Faber, former CEO of Danone, was appointed as the first Chair of the ISSB.
Question 7: Under IFRS S1, what time horizons must entities consider when assessing sustainability-related risks and opportunities?
- Short-term only (up to 1 year)
- Short, medium, and long-term (Correct answer)
- Medium and long-term only
- Long-term only (beyond 10 years)
Correct answer: Short, medium, and long-term
IFRS S1 requires entities to consider short, medium, and long-term time horizons consistent with their business planning cycles.
ISSB Trivia 2
In which city is the ISSB headquarters located?