The Canadian Sustainability Standards Board (CSSB) was established to serve the public interest by setting and maintaining high-quality sustainability disclosure standards for Canadian entities and by contributing to the development of high-quality, internationally recognized sustainability disclosure standards.

On June 26, 2023, the International Sustainability Standards Board (ISSB) released its first two IFRS Sustainability Disclosure Standards. IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information lays out the general requirements for disclosing sustainability-related financial information. IFRS S2 Climate-related Disclosures focuses on climate-related disclosures.

The CSSB used IFRS S1 as a baseline to develop the Exposure Draft, “Proposed Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information.”