International Sustainability Standards Board (ISSB)’s Post

The #ITCG is meeting on 3 December 2024 at 12:00 GMT. The ITCG will receive an update on:  • Updates to the IFRS Accounting Taxonomy 2024 to reflect new and amended standards (specifically IFRS 18, IFRS 19 and Power Purchase Agreements).  • The IFRS Accounting Taxonomy workplan for future taxonomy updates.  • The ISSB’s digital financial reporting activities, including facilitating digital interoperability between the ISSB Standards and ESRS. Find the agenda and meeting papers here: https://lnkd.in/esyj_kv6   #digitalfinancialreporting #IFRStaxonomy #IASB #ISSB

Interoperability guidance published on ESRS and ISSB Standards On 2 May 2024, the IFRS Foundation and EFRAG together published guidance material on the alignment between the ISSB Standards and ESRS. The material provides interoperability guidance for climate-related sustainability disclosures under ESRS and ISSB Standards. Whilst there are many aligned requirements of ESRS and ISSB Standards, there are differences that entities must address to claim compliance with both. A multi-national entity may need to comply with both sets of standards if it has reporting entities in jurisdictions that require compliance with ESRS, and reporting entities in jurisdictions that require compliance with ISSB Standards. The definition of materiality in IFRS S1, focused on what is decision-useful to investors, is aligned with the definition of financial materiality in ESRS. But ESRS requires a double materiality assessment, considering what is decision-useful information to investors and other stakeholders. https://lnkd.in/eudzca-N

#EY #ISSB #GCRS JUST UPDATED- we have just released the updated Applying IFRS on ISSB sustainability disclosure standards. This updated edition uses real-life examples to illustrate practices that could be a starting point for disclosing information required by ISSB standards. Click below to read or download.

Many companies will be required or will choose to disclose information about their sustainability-related risks and opportunities using both #ISSB Standards and #ESRS.    The IFRS Foundation, the European Commission and EFRAG achieved a high degree of alignment of climate-related disclosures between ISSB Standards and ESRS, but compliance with one set of standards does not ensure compliance with the other.    To help companies, the IFRS Foundation and EFRAG have published interoperability guidance, which:  📖 Explains the alignment; 📖 Provides practical support that explains how a company can comply with both sets of standards; 📖 Includes detailed analysis of climate-related disclosures; and 📖 Explains why companies still need to refer to the standards, but makes it easier to navigate doing so.    Find out more below about the key takeaways from the interoperability guidance.    Access the ESRS–ISSB Standards Interoperability Guidance: https://lnkd.in/dE5KNHeZ 📺 You will be able to hear more about the interoperability guidance in an upcoming webcast. To receive updates on the webcast, sign in to your IFRS account, go to your dashboard and choose to follow 'Applying IFRS sustainability standards': https://lnkd.in/eb4WUZhS     #IFRSsustainability #ISSB #ISSBstandards #interoperability

Watch a new webcast series on connectivity between the financial statements and sustainability-related financial disclosures.    The final two episodes of our new webcast series are now available.     Join International Accounting Standards Board (IASB) technical staff Gustavo Olinda and International Sustainability Standards Board (ISSB) technical staff Gabriel Benedict, CPA as they discuss how IFRS Accounting Standards and IFRS Sustainability Disclosure Standards complement each other.     They also walk through examples to illustrate how applying the Standards together results in complementary and connected reported information.       Watch the full webcast series here: https://lnkd.in/esnm62Cu   We have also launched a new dedicated connectivity webpage hosting all related resources and updates: https://lnkd.in/e-tSf4JD   #IFRSAccounting #IFRSSustainability #IASB #ISSB 

A nice reminder today from the IFRS Foundation discussing the connectivity between financial statements #iasb and sustainability-related disclosures #issb. This is a great time of year to review your ‘material’ factors and their consistency with your policies, governance, strategy, investment and risk management, and reporting. https://lnkd.in/gWF_vK4m #esg #sustainableinvestments #responsibleinvesting #sustainability #commercialrealestate #multifamily

[#ASRS] [#IFRSSDS] The Australian Accounting Standards Board (AASB) continues to increase the alignment of ASRS with IFRS SDS. On 26th June, the AASB Board decided to remove from the draft ASRS a number of requirements that were specific to Australia: ❌ The use of a minimum of 2 climate-related scenarios, including a 1.5 degree above pre-industrial levels scenario is no longer required. ❌For scope 3, the possibility to use preceding reporting period data if reliable current reporting period data is unavailable has been removed. ❌For financed emissions, the possibility for financial institutions to consider the applicability of disclosing in line with IFRS S2 requirements (para B61-B63) has been removed. The final version of the ASRS is expected to be released in the coming months.

The IFRS Foundation has today published Using the IFRS digital taxonomies—A guide for regulators implementing the IFRS digital taxonomies in a digital filing system.    Digital financial reporting enables investors to efficiently search, extract and compare companies’ financial reports. The IFRS digital taxonomies – the IFRS Accounting Taxonomy and the IFRS Sustainability Disclosure Taxonomy – facilitate companies’ reporting of financial information in a computer-readable, structured data format. The guide is developed to assist regulators in their implementation of the IFRS digital taxonomies.   Find out more: https://lnkd.in/eE6cxskG   International Accounting Standards Board (IASB), International Sustainability Standards Board (ISSB) #IFRSdigitaltaxonomy #digitaltaxonomy #taxonomy #IASB #ISSB #IFRS

IOSCO welcomes the IFRS Foundation's guide for regulators implementing the IFRS digital taxonomies in a digital filing system. This important guide builds on the valuable work the IFRS is doing on digital financial reporting.  #digitalfinancialreporting

Published today by the IFRS Foundation: A guide for regulators implementing the IFRS #digital #taxonomies in a digital filing system for both the International Accounting Standards Board (IASB) & International Sustainability Standards Board (ISSB). Full details 👇