ERM Sustainability Institute’s Post

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

On December 18, the Technical Advisory Committee (TAC) held a public meeting to discuss its recommendations regarding the endorsement of IFRS S1 and IFRS S2 standards. The TAC was commissioned in May 2024 to provide guidance on these important sustainability-related financial disclosure standards issued by the International Sustainability Standards Board. Their assessment indicates that establishing UK Sustainability Reporting Standards will significantly benefit the public good. Key Highlights: - The TAC advised endorsing IFRS S1 and IFRS S2 with minor amendments. - Recommendations include extending the 'climate first' reporting relief from one to two years. - The TAC suggests developing guidance to help entities align IFRS S1 with existing UK sustainability disclosure requirements. - These recommendations were discussed and agreed upon during the TAC's public meeting. For more updates on financial services, follow Global Regulatory Insights. #Sustainability #IFRS #FinancialReporting #ClimateDisclosures #GlobalRegulatoryInsights

Don’t miss our IFRS Sustainability S1 & S2 Standards webinar on 24 July. Join PKF and respected expert, Blaise Colyvas, who will share practical insights on sustainability reports and their implementation. Register here: https://bit.ly/3zbNQP0 . . . #SustainabilityStandards #PKFInSouthAfrica #TeamPKF #IFRS

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.

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

🌎Why IFRS S1 & S2 Are More Than Just Reporting Standards? In today’s world, being a responsible business is not just about profitability, it’s about impact. The introduction of IFRS S1 & S2 is not just a shift in financial reporting standards, it is the call for businesses to step up and align their operations with sustainability and global responsibility. IFRS S1 (General Requirements for Sustainability Related Financial Information) and IFRS S2 (Climate-l Related Disclosures) are designed to go beyond numbers. They emphasize, ⚧️Transparency - By shedding light on sustainability related risks and opportunities, we can rebuild trust with stakeholders. 🫡Accountability - Clear reporting ensures businesses align with long-term goals like the UN’s Sustainable Development Goals (SDGs). 🍀Future Proofing - Identifying climate-related risks today safeguards tomorrow’s operations But here is the thing, it is not just about reporting. Adopting these standards means fundamentally rethinking internal processes, governance structures, and our role in society. It is about being proactive in reducing our environmental footprint while creating sustainable value for shareholders and the community. For those of us in business, this shift challenges us to look beyond the ledger. Are we prepared to balance economic growth with planetary needs? Are we ready to truly embed sustainability into decisions making. As professionals, we have the power to lead this change and inspire others to follow. Let’s ensure our reporting reflects not just compliance but also commitment. Because in the end, this isn’t just about standards it’s about securing a sustainable future for all. #sustainableworld #goodhope #ifrss1s2

Don’t miss our IFRS Sustainability S1 & S2 Standards webinar on 24 July. Join PKF and respected expert, Blaise Colyvas, who will share practical insights on sustainability reports and their implementation. Register here: https://bit.ly/3zbNQP0 . . . #SustainabilityStandards #PKFOctagon #TeamPKFO #IFRS

#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

🎙️ The UN Sustainability Stock Exchanges (SSE), International Finance Corporation (IFC) and IFRS Foundation hosted the IFRS sustainability training webinar in partnership with the JSE and SAICA on applying the ISSB sustainability disclosure standards (IFRS S1 and IFRS S2) on the 1st of August 2024 . SAICA is pleased to release the report on the key takeaways on the IFRS Sustainability Disclosure Standards training . #SustainabilityReporting #SAICA Bafana Radebe CA(SA) Ian Mtegha CA(SA)