Due Process Compliance Statement - ISSB Request for Information

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Publication date
25 September 2023
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PDF, 228.7 KB
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Influencing process: ISSB RFI Consultation on Agenda Priorities

Step Mandatory/ Optional Metrics or evidence UKEB Secretariat comments
ISSB's due process document
ISSB RFI Published: 04/05/2023 Comment deadline: 01/09/2023 n/a
Project preparation
Technical project added to UKEB technical work plan [Due Process Handbook (Handbook) 4.30(b)] Mandatory Project is included in the published technical UKEB Work Plan Included in the UKEB technical work plan published in May 2023.
Project Initiation Plan (PIP) [Handbook 5.4 to 5.8 and 5.13 to 5.14] Mandatory PIP draft with project outline (background, scope, project objective) and approach for influencing (key milestones and timing) proportionate to the project The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP was approved by UKEB at 18/05/23 meeting.
Outreach plan for stakeholders and communication approach outlined Engagement with UKEB Advisory and Working Groups on both the ISSB RFI and the Draft Comment Letter (DCL). The Secretariat also proposed a round table discussion with the UKEB Sustainability Working Group. Engagement on the DCL with industry and user representative bodies.
Project Initiation Plan (PIP) [Handbook 5.4 to 5.8 and 5.13 to 5.14] (continued) Mandatory Resources allocated Two project directors and an assistant project manager.
Assessment of whether to set up an ad-hoc advisory group The UKEB Sustainability Working Group had already been established.
PIP is approved at public meeting [Handbook 5.4] Mandatory UKEB Board public meeting held to approve PIP Approved at 18/05/23 UKEB public board meeting.
Education sessions [Handbook 4.10] Optional UKEB Education or initial assessment n/a
Desk-based research [Handbook 5.9] Optional Review of relevant documentation The following research was developed and considered:
  • UKEB research reports
    1. Climate-Related Matters Summary of Connectivity
    2. Analysis of 2022 Annual Reports
  • UKEB staff connectivity papers
    1. Asset recognition, measurement, and impairment
    2. Liabilities and Provisions
    3. Fair Value Measurement
  • Discussion with the UKEB National Standard Setters Sustainability Forum1
Communications
Public board meetings Mandatory UKEB Board public meetings held to discuss technical project PIP approved at 18/05/23 Board meeting. DCL approved at 22/06/23 Board meeting. Final Comment Letter approved at 2/08/23 Board meeting.
Secretariat papers Mandatory UKEB Board meeting papers posted and made publicly available on a timely basis. UKEB Board meeting papers were published on the UKEB website one week before the public meetings. Meeting minutes and recordings were made publicly available via the UKEB website. Advisory and Working Group minutes were made publicly available on the UKEB website. Subscribers were notified via the UKEB LinkedIn posts and News Alerts.
Project webpage Optional Project webpage contains a project description with up-to-date information on the project The project webpage was created in May 2023. It was updated regularly with the project status and additional materials.
News Alerts [Handbook A4d] Optional Evidence that subscriber alerts have occurred Subscribers were alerted, via email, 5 days before each Board meeting, provided with links to the agenda, papers and given the option to dial in to observe the discussion. News Alerts were also issued alerting subscribers to the UKEB Consultation on its DCL for ISSB RFI and publication of the Final Comment Letter.
Outreach activities
Outreach activities [Handbook 5.11 – examples of outreach activities included at A4 and of fieldwork, a subset of outreach, at A7] Mandatory Gather input from investors, preparers and accounting firms and institutes, as outlined in the PIP. Activities included:
UKEB Draft Comment Letter
Draft comment letter (generally mandatory) [Handbook paragraphs 5.13 to 5.17] Mandatory Draft comment letter approved for publication at UKEB Board public meeting The DCL was approved at the UKEB Board meeting on 22/06/23.
Mandatory Draft comment letter, including deadline for responses, posted on UKEB Website for public consultation The DCL was published on 23/06/23 for a 30-day public comment period, ending on 23/07/23.
Mandatory News Alert issued to announce publication of the DCL DCL publication announced via a UKEB News Alert on 23/06/03.
[Handbook paragraphs 5.19 and 5.23] Public responses on draft comment letter posted on website Five comment letters were received from CFA UK, Emerging Technologies Sustainability Taskforce, KPMG, PwC and an individual were all published on the project web page on the UKEB website.
UKEB final comment letter
Final comment letter (FCL) submitted before comment period ends. [Handbook paragraph 5.18] Mandatory Final comment letter approved for publication at UKEB Board public meeting. The Final Comment Letter (FCL) was approved at the UKEB Board meeting on 2/08/23.
Mandatory Publish final comment letter on UKEB website and submit to ISSB The FCL was published on 11/08/23.
Mandatory News Alert issued to announce publication A news alert was published on 11/08/23.
Finalisation
Feedback statement [Handbook paragraphs 5.19 to 5.22] Mandatory Draft Feedback Statement for discussion and review at UKEB Board public meeting The Feedback Statement (FS) was approved at the UKEB Board meeting on 2/08/23.
Mandatory Feedback Statement posted on UKEB Website The FS was published on 11/08/23.
Mandatory News Alert issued to announce A news alert was published on 11/08/23.
Due process compliance Statement (DPCS) [Handbook paragraphs 5.23 to 5.26] Mandatory Due Process Compliance Statement approved by UKEB in public meeting A [draft] DPCS was presented for approval to the Board at its August 2023 public meeting. The final DPCS presented for noting at the Board's September 2023 meeting.
Mandatory Due Process Compliance Statement posted on UKEB Website The final DPCS published on the UKEB website subsequent to the September 2023 Board meeting.

Conclusion

This document sets out the main due process activities performed as part of the UKEB's project. Overall, this project complies with the applicable due process steps, as set out in the Handbook at the time of writing.

Footnotes

  1. UKEB National Standard Setters Forum ↩

  2. UKEB Sustainability Working Group round table minutes (29 June 2023) ↩