ISSB-IFRS-S1-S2

Global ISSB IFRS sustainability standards.

Definition

IFRS S1 General Requirements: 4 pillars governance, strategy, risk management, metrics and targets (TCFD-aligned), connected to financial statements, investor-oriented materiality, prospective view risks-opportunities. IFRS S2 Climate-related Disclosures: Industry-based metrics derived from SASB, mandatory Scope 1-2-3 emissions disclosure, scenario analysis. Initial adoption 2024-2025: Brazil mandates 2026, Japan mandates 2027, EU compatibility via interoperability. ISSB Adoption Progress Tracker.

Origin

ISSB created by IFRS Foundation November 2021 COP26 Glasgow ; IFRS S1 and IFRS S2 published 26 June 2023 ; applicable to periods starting 1 January 2024+.

Example in context

ICBC Bank Brazil prepares first ISSB IFRS S1+S2 report for fiscal year 2024 ; Scope 1-2-3 reporting, climate transition plan, integration with IFRS Accounting Standards.

Related terms

• SASB — integrated in IFRS S2.