Today, the IFRS Foundation and EFRAG released interoperability guidance showcasing the high level of interoperability between the International Sustainability Standards Board (ISSB)'s IFRS Sustainability Disclosure Standards S1 and S2 and the European Sustainability Reporting Standards (ESRS). ❓ What does this mean? The guidance helps confirms that companies reporting in alignment with the ESRS will in turn be closely aligned to IFRS S1 and S2 since the ESRS and IFRS Sustainability Disclosure Standards have matching definitions for financial materiality. The double materiality approach required by the ESRS not only aligns with, but also fulfills, the financial materiality requirements outlined in the IFRS S1 and S2. To view the guidance document, click here: https://lnkd.in/dE9ERjKW
Millani’s Post
More Relevant Posts
-
Our EY global resource providing guidance for entities applying IFRS S1 and S2 sustainability standards has been updated to include practical examples. Examples of sustainability and climate-related disclosure in market/ theoretic proformas are one of the most common requests from reporters when looking to align to the IFRS ISSB standards and Australian ASRS. I look forward to seeing further guidance from the AASB and IFRS in due course, but this is good resource for those working towards alignment in the interim.
-
The launch of the International Sustainability Standards Board (ISSB) inaugural standards in 2023 marked a significant milestone in corporate sustainability reporting. The ISSB’s IFRS S1 and IFRS S2 (IFRS S1/S2) formalize a much-awaited convergence of sustainability and financial disclosures and alignment of reporting frameworks. IFRS S1/S2 became effective for annual reporting periods as of January 1, 2024. While the standards can now be used for voluntary reporting, multiple jurisdictions have indicated intent to mandate IFRS S1/S2 requirements. Explore the disclosure landscape further in our briefing “ISSB’s IFRS S1/2: Laying the foundation for global mandatory disclosures“: https://lnkd.in/djKP9NK2 #ISSB #IFRS #SustainabilityDisclosure Catherine (Katie) Osborn, Katie Langemeier
-
-
Wondering how a sustainability report under IFRS Sustainability Disclosure Standards might look? See @PwC’s example disclosures illustrating some of the requirements in IFRS S1 and IFRS S2 for a hypothetical entity applying these standards for the first time in 2024 https://lnkd.in/df_cJd9V #Viewpoint #IFRS#Sustainability
-
-
Experienced Technical Accounting & Corporate Reporting Professional| ESG & Sustainability Reporting 🌎| x CA Brand Ambassador | CA Nationwide Distinction holder | x Ey & x KPMG
This would indeed be useful - 'TPT Sector Deep Dive Guidance' that provides sector-specific guidance for preparers to interpret the Disclosure Framework in following sectors: • Asset Managers; • Asset Owners; • Banks; • Electric Utilities & Power Generators; • Food & Beverage; • Metals & Mining; and • Oil & Gas.
📚 13 disclosure-specific materials developed by the Transition Plan Taskforce (TPT), which the IFRS Foundation has assumed responsibility for, are available on the IFRS Sustainability Knowledge Hub. The TPT materials are useful for companies applying IFRS S2, which requires that information be disclosed if a company has a transition plan. These materials do not change the requirements in IFRS S2. 🔗 Access the materials and other resources to support the implementation of the ISSB Standards via the link in comments. 👇
-
-
BEng (Hons) | EDGE Expert | Sustainability | Green Building | Decarbonisation | Carbon Management | GHG Reporting
In my previous post (https://lnkd.in/ehPF2Yjs), I emphasized the constantly evolving landscape of sustainability reporting. Today, the IFRS Foundation released the Transition Plan Taskforce (TPT) providing companies implementing IFRS S2 with valuable guidance on how to disclose their transition plans, if applicable. Read more here: https://lnkd.in/eFUNhm6h #SustainabilityReporting #IFRS #IFRSS2 #TransitionPlan #CorporateSustainability #ClimateAction #SustainabilityDisclosure #ESG #SustainableBusiness #EnvironmentalCompliance #GreenBusiness #TransitionTaskforce #ClimateReporting #CorporateGovernance
📚 13 disclosure-specific materials developed by the Transition Plan Taskforce (TPT), which the IFRS Foundation has assumed responsibility for, are available on the IFRS Sustainability Knowledge Hub. The TPT materials are useful for companies applying IFRS S2, which requires that information be disclosed if a company has a transition plan. These materials do not change the requirements in IFRS S2. 🔗 Access the materials and other resources to support the implementation of the ISSB Standards via the link in comments. 👇
-
-
⏰ There is still time to register for IFRS’ ISSB Reporting Standards Webinar part of G&A's Pathfinder series. This segment delves into the IFRS International Sustainability Standards Board (ISSB) and its emerging standards. We will specifically focus on the global context of IFRS S1 and S2, discussing their implications and future developments in ISSB standards that are pertinent to U.S. companies. 🔗 https://ow.ly/qb9150TPXX3
-
-
📚 13 disclosure-specific materials developed by the Transition Plan Taskforce (TPT), which the IFRS Foundation has assumed responsibility for, are available on the IFRS Sustainability Knowledge Hub. The TPT materials are useful for companies applying IFRS S2, which requires that information be disclosed if a company has a transition plan. These materials do not change the requirements in IFRS S2. 🔗 Access the materials and other resources to support the implementation of the ISSB Standards via the link in comments. 👇
-
-
Chair ISSB - rewriting economics together, otherwise climbing
At New York Climate Week, 2 weeks ago, International Sustainability Standards Board (ISSB) announced a big addition to our Knowledge Hub, welcoming the 13 key disclosure materials developed by the Transition Plan Taskforce (TPT) which built from the Glasgow Financial Alliance for Net Zero (GFANZ) framework. Transition plans are a mounting topic of discussion globally and we have committed to raise the status of these materials to ISSB Educational Material as soon as 2025. This will support application of the IFRS S2 requirements. It is critical, to avoid duplication of reporting, poor quality and discrepancies of disclosures, and lack of decision usefulness, that a global baseline is established on these critical set of information, for jurisdictions, corporates, banks and financial institutions to use them in a consistent manner. This is the first step. More to come.
📚 13 disclosure-specific materials developed by the Transition Plan Taskforce (TPT), which the IFRS Foundation has assumed responsibility for, are available on the IFRS Sustainability Knowledge Hub. The TPT materials are useful for companies applying IFRS S2, which requires that information be disclosed if a company has a transition plan. These materials do not change the requirements in IFRS S2. 🔗 Access the materials and other resources to support the implementation of the ISSB Standards via the link in comments. 👇
-
-
Senior Climate Resilience and Adaptation Specialist focused on investment, place and equity
Nice to see this following through into the IFRS Foundation. If you missed the work on private sector transition plan standards which include adaptation the first time round, check them out here!
📚 13 disclosure-specific materials developed by the Transition Plan Taskforce (TPT), which the IFRS Foundation has assumed responsibility for, are available on the IFRS Sustainability Knowledge Hub. The TPT materials are useful for companies applying IFRS S2, which requires that information be disclosed if a company has a transition plan. These materials do not change the requirements in IFRS S2. 🔗 Access the materials and other resources to support the implementation of the ISSB Standards via the link in comments. 👇
-
-
As transition plan disclosures become central to every organization's strategy for a sustainable global economy, aligning with global sustainability standards and benchmarking against best practices is crucial. The IFRS Foundation now provides essential materials from the Transition Plan Taskforce to support companies in meeting these new standards. Access these resources to ensure your disclosures are benchmarked against the best practices in the industry #Sustainability #IFRS #TransitionPlans #Benchmarking #CorporateGovernance #ESG #StrategicPlanning #AAIMPACTINC
📚 13 disclosure-specific materials developed by the Transition Plan Taskforce (TPT), which the IFRS Foundation has assumed responsibility for, are available on the IFRS Sustainability Knowledge Hub. The TPT materials are useful for companies applying IFRS S2, which requires that information be disclosed if a company has a transition plan. These materials do not change the requirements in IFRS S2. 🔗 Access the materials and other resources to support the implementation of the ISSB Standards via the link in comments. 👇
-
