The introduction of IFRS S1 and IFRS S2 by the International Sustainability Standards Board (ISSB) sets a new global benchmark for sustainability-related financial disclosures.
Effective for reporting periods beginning 1 January 2024, these standards aim to improve the consistency, transparency, and decision-usefulness of sustainability and climate-related reporting across industries and markets.
IFRS S1 provides general requirements for disclosing sustainability-related risks and opportunities that could impact an entity’s financial performance, while IFRS S2 focuses specifically on climate-related disclosures, addressing both risks and opportunities arising from climate change.
In the last publication from AARO Academy, Stella W Chege, Senior IFRS Consultant and Trainer at AARO, explains what organizations need to do to prepare for adoption – adapting people, processes, and systems, while also unlocking strategic opportunities.
👉 Read the full article here to explore what these new standards mean for your organization and how you can prepare for the transition.
