Japan has taken a major step in aligning with global sustainability reporting standards with the release of its inaugural IFRS-aligned sustainability disclosure standards. Developed by the Sustainability Standards Board of Japan (SSBJ), these standards will shape mandatory ESG and climate-related reporting for listed Japanese companies. The move follows a 2023 mandate from Japan’s Financial Services Agency (FSA) requiring companies to integrate sustainability information into their annual filings. 

The new framework builds on Japan’s increasing sustainability disclosure expectations. In 2021, the Tokyo Stock Exchange revised its corporate governance code, requiring prime market-listed firms to disclose climate-related information based on Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The SSBJ, formed in 2022 under the Financial Accounting Standards Foundation (FASF), has since worked to align Japan’s sustainability reporting with international frameworks. 

The newly issued standards closely follow the International Sustainability Standards Board (ISSB) guidelines. The IFRS Foundation launched the ISSB in 2021 to create globally consistent sustainability disclosure standards, introducing IFRS S1 (General Sustainability) and IFRS S2 (Climate-Related Disclosures) in 2023. The SSBJ initially released exposure drafts in March 2024, refining them based on industry feedback. 

Japan’s finalized framework differs slightly from the ISSB model, introducing three separate standards instead of two. These include Universal Sustainability Disclosure, General Disclosures, and Climate-Related Disclosures. The Universal Standard outlines fundamental sustainability reporting principles, while General Disclosures mirror IFRS S1’s requirements for sustainability-related risks and opportunities. Climate-Related Disclosures align with IFRS S2, focusing on how companies manage climate risks. 

Yasunobu Kawanishi, Chair of the SSBJ, emphasized Japan’s commitment to global consistency, stating: “We reduced even further potential differences between SSBJ Standards and ISSB Standards.” While minor jurisdiction-specific alternatives remain, the board will monitor reporting trends and adjust regulations if needed. 

The SSBJ expects these standards to eventually become mandatory under securities laws for Tokyo Stock Exchange Prime Market-listed firms, reinforcing Japan’s push toward ESG transparency and carbon-neutral strategies. 

출처: 

https://www.esgtoday.com/japan-releases-inaugural-ifrs-aligned-sustainability-reporting-standards/ 

https://www.iasplus.com/en/news/2025/03/ssbj-standards 

https://viewpoint.pwc.com/dt/us/en/pwc/news-and alerts/news/News/japanissbstandards.html