Shae de Waal’s Post

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

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

Here is a quick read article on the 4 pillars within the two new IFRS Sustainability Standards - IFRS S1 and IFRS S2. https://lnkd.in/dBw_rAdy

Our Applying IFRS Sustainability Disclosure Standards publication has received its first major update! You can find this elaborate 174 page publication on https://lnkd.in/g9A8W__i This publication considers general disclosure requirements for sustainability-related financial information (IFRS S1) and climate-related disclosures (IFRS S2) as issued by the ISSB in June 2023. This updated edition adds another 40 pages to our December publication, using real-life examples to illustrate practices that could be a starting point for disclosing information required by ISSB standards. As you are used to from our 'Applying' publications, it also contains several "How we see it" boxes for additional understanding on application of the standards. #ey #issb #sustainabilityreporting #sustainability #GlobalCRS Elodie Timmermans Nelmari Hamman Giorgio Alessio Acunzo Astrid Bessler Glenn Brady Claire Patra Amanda Kraus, CPA Christine Evans, CPA Freya Henson Leo van der Tas Christian Orth Jason Bond Matthew Bell Laure Guégan Luci Wright CA(SA) Anke Laan Andrew Hobbs Aikaterini (Katerina) Vatzaki, FCCA, CPA Megan Wilson Clémence McNulty Ece Sevin

📣 UK adoption of IFRS S1 and S2 – we are close to seeing what the final UK rules may look like. 📣 The UK Sustainability Disclosure Technical Advisory Committee (TAC) met on 5th December 2024 to discuss their final IFRS S1 and IFRS S2 endorsement recommendations compared to the original IFRS standards. The TAC recommends that the endorsement of both IFRS S1 and S2 would be conducive to the long-term public good in the UK. The diagram below provides a summary of their recommendations for each technical area (subject to any changes made at the 5th of December meeting). The full document and videos of the 5th of December meeting are available at: https://lnkd.in/edk-bycX Expect the final letter from the TAC with their endorsement recommendations to be sent to the Secretary of State by 20th December 2024. Then expect the UK Government to issue a consultation in Q1 2025.

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   

The ISSB released its first IFRS Sustainability Disclosure Standards—IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures—in June 2023. The ISSB Standards establish a high-quality global baseline of investor-focused sustainability-related disclosures. #Certificate of Participation #ISSB: Applying the IFRS Sustainability Disclosure Standards

#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.

The International Sustainability Standards Board (#ISSB) has introduced the new #IFRS Sustainability Disclosure Standards, IFRS S1 and IFRS S2, to address investors’ information needs. Effective from January 1, 2024, these standards aim to establish a unified global baseline for sustainability reporting. By providing a consistent framework for disclosing sustainability-related financial information, IFRS standards enhance transparency, comparability, and accountability in corporate sustainability practices. #SustainabilityReporting #SustainabilityStandards #CorporateSustainabilityPractices Read more: https://lnkd.in/gKXAFRf3

We have just updated our IFRS Sustainability Disclosures Standards publication #ISSB #SDS #S1 #S2