IFRS Sustainability Disclosure Standards: Definition
In June 2023, the International Sustainability Standards Board (ISSB) issued its inaugural pair of IFRS® Sustainability Disclosure Standards: IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. These standards are applicable for annual reporting periods commencing on or after January 1, 2024. Companies are mandated to apply both IFRS S1 and IFRS S2 together to demonstrate compliance with IFRS Sustainability Disclosure Standards. Nevertheless, the ISSB offers transitional relief for some requirements during the first year of application of IFRS S1 and IFRS S2.
Related Terms
IFRS
The IFRS Foundation is a non-profit, public interest organisation established to create high-quality, understandable, enforceable, and globally accepted…
IFRS S1
The primary objective of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information is to mandate entities…
IFRS S2
The primary aim of IFRS S2 Climate-related Disclosures is to compel an organisation to provide information concerning its…
Disclosure standards
Standards for carbon accounting disclosure encompass the guidelines, frameworks, and reporting requisites followed by organisations to transparently and…
Climate-related Financial Disclosure
Climate-related Financial Disclosures aims to enhance and expand the reporting of financial information related to climate change. Investors…