Sustainability Disclosure Standards: IFRS S1 and S2

Learning Objectives

• To describe the purpose of the sustainability disclosure standards.
• To outline the main requirements of IFRS S1.
• To outline the main requirements of IFRS S2.
• To review developments in sustainability reporting in the key jurisdictions of the United States, Canada, the European Union, the United Kingdom, and Australia.
• To explain the role of the Global Reporting Initiative.
• To consider appropriate sustainability metrics for their organization.
• To plan their next steps for professional development and implementation of the standards.

Course Description

In June 2023 the IFRS issued two new reporting standards. These are the sustainability disclosure standards IFRS S1 and S2 which come into force from January 2024 for corporate reports from 2025.

Climate change brings risks to organizations and the economy, but it also holds opportunities. In response to these issues, the International Financial Reporting Standards Foundation set up the International Sustainability Standards Board in November 2021 in order to develop “sustainability-related disclosure standards that provide investors and other capital market participants with information about companies’ sustainability-related risks and opportunities to help them make informed decisions”.

The result of this work is the two new sustainability disclosure standards IFRS S1 and S2. These new standards fit within a wider context of sustainability reporting standards including emerging models in the European Union, United Kingdom, Australia, Canada, and the United States.

This CPE Accounting Course provides an overview of IFRS S1 and S2 and their requirements and an insight into the broader framework of sustainability reporting standards in the key jurisdictions of the European Union, United Kingdom, Australia, Canada, and the United States. The course also discusses the sustainability KPIs that organizations are beginning to implement.

Join this CPE Webinar it will help you prepare for reporting if your organization is covered by the requirements, and it will help develop expertise in the emerging field of sustainability analysis and reporting.

Key Topics covered in this Course:

• Background to the Sustainability Disclosure Standards
• Overview of IFRS S1 and S2
• IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information
• IFRS S2: Climate-related Disclosures
• Jurisdiction-Specific Application of IFRS S1 and S2 - Part 1
• Jurisdiction-Specific Application of IFRS S1 and S2 - Part 2
• Other Sustainability Reporting Considerations
• Next Steps and Further Information

Overview

• Climate change is affecting us all

  4 mins
• IFRS S1 disclosure of sustainability - related financial information

  17 mins
• IFRS S1 and S2 in Australia

  25 mins
• IFRS S1 and S2 in Canada

  32 mins
• ESRS requirements

  38 mins
• IFRS S1 and S2 in United Kingdom

  43 mins
• The characteristics of ESG data

  49 mins
• Sustainability Matrics

  55 mins
• IFRS S1 and S2 next steps

  58 mins