To help enable companies to consistently and comparatively disclose their exposure to — and management of — sustainability-related risks and opportunities to investors and other financial stakeholders, the International Sustainability Standards Board (ISSB) released the global International Financial Reporting Standards Sustainability Disclosure Standards (IFRS SDS):
- IFRS S1: General requirements for disclosure of sustainability-related financial information
- IFRS S2: Climate-related disclosures
To help report using these Standards, you can contact your Workiva Customer Success Manager (CSM) or implementation partner to supplement your Sustainability Reporting workspace with additional ISSB templates, including:
- Assessments templates, to document and collect stakeholder feedback on the impacts — or materiality — of sustainability-related risks and opportunities on your company
- Reports , to visualize the progress and results of materiality assessments as charts and graphs
Note: Implementation services are required to set up these supplemental templates and files in your workspace; additional costs may apply. For details, contact your implementation partner.
Tip: To help control access to Assessments and Reports, Workspace Owners can assign the appropriate roles to workspace members.
Perform materiality assessments
To help determine the materiality of the IFRS SDS, the templates include several assessments to be performed in sequence.
| Template | Assesses |
|---|---|
| 1a. Topic collection |
The scope of the sustainability-related topics that may be relevant to your business — such as based on desktop research, sustainability policies, objectives, or legislation — through workshops with stakeholder and their direct feedback Tip: While not required for ISSB compliance, you can use this optional assessment to request additional context from stakeholders to help inform topic materiality. |
| 1b. RO collection |
The risks and opportunities (ROs) — both positive and negative — relevant to your company, its value chain, and affected stakeholders Tip: Use this optional assessment to request feedback from stakeholders about RO materiality. |
| 2. Financial materiality | The financial materiality of ROs, in terms of reasonable expectations of their influence on the decision-making of your general-purpose financial reports' audience |
| 3. RO materiality decision | The final materiality decision of ROs, based on their financial materiality |
| 4. Topic materiality decision | The final materiality decision of sustainability-related topics, based on their financial materiality |
Tip: From Reports , you can select the workspace members to receive each assessment.
To use these assessments to determine the materiality of sustainability-related topics and ROs:
-
To create ROs — such as based on research or stakeholder feedback — add them to Topic in Data or through the Topics section of the Imports spreadsheet.
Tip: To request feedback from stakeholders about topic materiality, create and send the optional 1a. Topic collection assessment.
-
To create the ROs, add them to Risk or opportunity in Data or through the ROs section of the Imports spreadsheet.
Tip: To request feedback from stakeholders about the materiality of IROs, create and send the optional 1b. RO collection assessment.
- Create and send the 2. Financial materiality assessment.
- After you receive the results of the materiality assessments, create and send the 3. RO materiality decision and 4. Topic materiality decision assessments.
- To identify gaps in data collection for material topics and ROs based on the results of the assessments, refresh the connections in the ISSB gap assessment spreadsheet.
Create and send assessment
To create and send assessments to their stakeholders:
- From Assessments , click Create assessments.
- Select the template to use with the assessment.
- To create assessments for a specific context, such as for only Environmental topics, click Add creation filter, and select the criteria of the assessments to create.
- In Period, select the reporting year to assess double-materiality for.
- Select the stakeholders' due date for their assessments, and click Preview.
- To create — but not yet send — the assessments, click Create.
- To send the assessments to their stakeholders, select them from Assessments, and click Send .
View assessment results
To gauge stakeholders' perspective on the materiality of IFRS disclosures, you can view the results of the assessments for the current period from Reports .
| Assessment results | Report | Folder |
|---|---|---|
| Overall materiality of topics and IROs | Topic and RO materiality current period results | 4. Step D: Reporting |
| 1a. Topic collection | Topic collection period results | 1. Step A: Understanding the context |
| 1b. RO collection | RO collection current period results | 2. Step B: Identification of ROs |
| 2. Financial materiality | Materiality assessment results | 3a. Materiality assessments |
| 3. RO materiality decision | RO decision assessment results | 3b. Materiality decision assessments |
| 4. Topic materiality decision | Topic decision assessment results | 3b. Materiality decision assessments |
Tip: As the stakeholders complete their assessments, your company can also collect the results in the ISSB gap assessment spreadsheet to help identify and reconcile gaps in data collection.
Set assessment weights
If your assessments include feedback from both individual stakeholders and workshops, you can weigh each assessment differently from Reports . For example, you may want to attribute higher value to a workshop — which provides multiple perspectives — than an individual stakeholder.
To set an assessment's weight:
- From Reports, open the 3a. Materiality assessments folder, then the 4. Assessment weighting assignment report.
- In the Financial materiality assessment, enter the assessment weight in the Financial materiality weight column. For example, if a workshop has 10 attendees, enter
10.