SSBJ
About the SSBJ
The Sustainability Standards Board of Japan (SSBJ) was established in July 2022 under the Financial Accounting Standards Foundation (FASF) to develop sustainability disclosure standards to be applied in Japan and to contribute to the development of international sustainability disclosure standards, following the establishment of the International Sustainability Standards Board (ISSB).
Missions
The SSBJ has two missions. One is to develop Sustainability Disclosure Standards (hereinafter Japanese Standards) and another is to contribute to the development of international sustainability disclosure standards.
(1)Development of Japanese Standards
The SSBJ is developing Japanese Standards under the assumption that the standards would be required to be applied in Japanese capital markets. To ensure the credibility of Japanese capital markets, the SSBJ is developing Japanese Standards that are of high-quality and internationally consistent.
The ISSB was established at the request of constituents with the objective of developing international sustainability disclosure standards. Taking this into consideration, it would be useful for constituents to align Japanese Standards with IFRS Sustainability Disclosure Standards, which are intended to be the comprehensive global baseline. Accordingly, the SSBJ is developing Japanese Standards following this thinking.
In developing Japanese Standards, the SSBJ may consider jurisdiction-specific requirements and surrounding systems, including laws and regulations related to sustainability. However, the fundamental thinking of the SSBJ is that sustainability-related financial information prepared in accordance with Japanese Standards should not significantly impair international comparability.
In addition, in the course of developing standards, the SSBJ also conducts research on topics that are of high interest to constituents.
(2) Contribution to the development of international sustainability disclosure standards
The SSBJ has a mission to communicate its views to actively contribute to the development of high-quality international sustainability disclosure standards so that Japanese Standards, which are to be aligned with international disclosure standards, are also of high-quality. In particular, the SSBJ submits comment letters to the ISSB’s Exposure Drafts and Requests for Information, and the SSBJ communicates its views at international meetings, including the meetings of the Sustainability Standards Advisory Forum (SSAF) that is set up under the ISSB.
With increasingly higher expectations to reflect the Japanese thinking in the international sustainability disclosure standards, enhancing the Japanese presence and influence in the international arena of standard-setting of sustainability disclosure standards is an important challenge of the SSBJ. Accordingly, the SSBJ is actively strengthening ties with standard-setters in other jurisdictions.
In addition, the SSBJ will actively communicate the outcome of research activities that are considered to be useful internationally.
Members of the SSBJ
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