In 2023, the International Sustainability Standards Board (ISSB) issued its first two international IFRS Sustainability Disclosure Standards (IFRS SDS), IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’.
As part or ongoing efforts to support the implementation of IFRS SDS, the IFRS Foundationi has published material aimed at both reporting entities and jurisdictional authorities to assist in the adoption and successful application of IFRS SDS. To contribute to meeting these aims, the IFRS Foundation has released profiles of jurisdictions that have adopted IFRS SDS either fully or partially, and more recently, guidance on disclosures about transition plans.
In response to observed fragmentation of disclosures around transition plans, the ISSB has prepared guidance to provide additional help to reporting entities in meeting the requirements set out in IFRS S2. The guidance has been prepared following several roundtable discussions with stakeholders and focuses on delivering compatibility with the ISSB global baseline.
The guidance:
Although IFRS S2 does not require an entity to have a transition plan, disclosures about climate-related transitions may be required to provide material information about sustainability-related risks and opportunities. This new guidance will help preparers in making these disclosures.
The guidance can be accessed here.
To support efforts to encourage adoption of IFRS SDS around the world, and to provide greater transparency to capital markets, regulators, other relevant authorities and other stakeholders, the IFRS Foundation has published a set of jurisdictional profiles to demonstrate progress towards the adoption or other use of ISSB Standards.
As the date of publication (12 June 2025), 36 jurisdictions have adopted or are otherwise using IFRS SDS, or are in the process of finalising steps to introduce them into their regulatory frameworks. The IFRS Foundation has published jurisdictional profiles on 17 of these jurisdictions. The profiles include stated targets for alignment with IFRS SDS and the current status of sustainability-related requirements in each jurisdiction. Of these 17 profiles, 14 jurisdictions have set a target of fully adopting ISSB Standards, two have set a target of adopting the climate requirements, and the final jurisdiction is targeting partially adopting IFRS SDS.
Alongside these profiles, the IFRS Foundation have also published 16 jurisdictional snapshots which provide a more high-level overview of the jurisdictions’ regulatory approaches towards adopting IFRS SDS.
The full list of jurisdictional profiles and snapshots can be found here.
We are pleased to see the ISSB continue to engage with stakeholders and identify areas where they can provide more guidance and transparency. The guidance document on transition plan disclosures will, in our view, provide useful insight to preparers of sustainability reports and help to achieve more consistency in disclosures. The jurisdictional profiles also provide a valuable tool for jurisdictions and regulators around the world to demonstrate the adoption efforts, and increased use of IFRS SDS.
i. The International Financial Reporting Standards (IFRS) Foundation is a non-profit, public-interest organization established to develop high-quality, understandable, enforceable, and globally accepted accounting and sustainability disclosure standards. The Standards are developed by the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB).
On 10 July 2025, the IFRS Foundation published educational material about using ISSB Industry-based Guidance when applying ISSB Standards.
The IFRS Foundation has published educational material on Greenhouse Gas disclosure requirements in IFRS S2.
The IFRS Foundation has published its first IFRS SDS guide, which aims to provide practical guidance on how to report climate-only information when utilising the ‘climate-first’ transition relief option.
The U.S. Securities and Exchange Commission (SEC) adopted on 6 March 2024 some significant and highly anticipated climate-related disclosure requirements for public companies in their periodic disclosure reports and in registration statements for public offerings (Final Rules).
On 2 May 2024, the long-awaited and highly anticipated interoperability guidance has been jointly issued by the IFRS Foundation and European Financial Reporting Advisory Group (EFRAG).
On 26 June 2023 the International Sustainability Standards Board (ISSB) released its first two International Sustainability Disclosure Standards (IFRS SDS or the Standards) that become effective for periods beginning on or after 1 January 2024. Get to know here what they are about and how they arose.
At its April meeting, the International Sustainability Standards Board (ISSB) decided to add to the transitional reliefs already proposed in relation to the adoption of its first two Sustainability Standards – IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’.
