Regulatory updates

In June 2023, the International Sustainability Standards Board (ISSB) issued the first two global baseline sustainability standards – IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2, Climate-related Disclosures. In this regard, recently, the IFRS Foundation released the comparison of IFRS S2 with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations (the publication). The requirements in IFRS S2 are consistent with the four core recommendations and eleven recommended disclosures published by the TCFD.

However, there are certain additional requirements in IFRS S2. These include the requirements for companies to disclose industry-based metrics, to disclose information about their planned use of carbon credits to achieve their net emissions targets and to disclose additional information about their financed emissions, amongst others.

To access the text of the publication, please click here

Recently, the IFRS Foundation published its ninth compilation of agenda decisions by the IFRS Interpretations Committee from May to October 2023. It includes three agenda decisions:

• Premiums receivable from an intermediary (IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments)
• Homes and home loans provided to employees, and
• Guarantee over a derivative contract (IFRS 9).

To access the text of the compilation, please click here

The IFRS Foundation has published its 11^th Compilation of Agenda Decisions by the IFRS Interpretations Committee, covering the period from May 2024 to October 2024.

The Compilation includes the agenda decision Disclosure of Revenues and Expenses for Reportable Segments, which relates to IFRS 8 Operating Segments.

To access the text of the publication, please click here