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Updates from IFRS Foundation

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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

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