The evolving landscape of corporate sustainability has brought to the forefront the need for stringent, transparent reporting standards. Among these, the IFRS S2, Climate-related Disclosures, stands as a pivotal framework designed to guide organizations in disclosing the impacts of their operations on the climate and vice versa. This summary, tailored for finance professionals, is part of a series of briefs exploring the topics of sustainability, business, and the finance professional’s key role. It delves into the essentials of the IFRS S2 standard by addressing critical questions:
Why are sustainability-related disclosure standards needed?
How was the IFRS S2 standard developed?
When is reporting under IFRS S2 required?
What are the general requirements of IFRS S2?
Who will encounter the IFRS S2 requirements?
As a finance professional, you are likely to encounter one or many of the sustainability frameworks and standards, and we will continue to release papers summarizing the major methodologies.