IFRS Foundation launches sustainability knowledge hub at COP28
IFRS Foundation launches sustainability knowledge hub at COP28
The International Sustainability Standards Board’s (ISSB’s) Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, are effective for annual reporting periods beginning on or after 1 January 2024.
Please refer to our November 2023 article for more information on the differences between the ISSB’s Sustainability Disclosure Standards and New Zealand’s Aotearoa New Zealand Climate Standards (NZ CS).
Although there are differences between NZ CS and the ISSB’s Sustainability Disclosure Standards, the requirements are similar in many respects, so the information contained in the Sustainability knowledge hub could be of use to New Zealand sustainability reporters.
In addition, as detailed in our August 2023 article, New Zealand entities may be caught by sustainability reporting by other jurisdictions around the world, in which they operate, and hence the Sustainability knowledge hub will be of use to those entities.
For more on the above, please contact your local BDO representative.
This article has been based on an article that originally appeared on BDO Australia, read the article here.
Please refer to our November 2023 article for more information on the differences between the ISSB’s Sustainability Disclosure Standards and New Zealand’s Aotearoa New Zealand Climate Standards (NZ CS).
Although there are differences between NZ CS and the ISSB’s Sustainability Disclosure Standards, the requirements are similar in many respects, so the information contained in the Sustainability knowledge hub could be of use to New Zealand sustainability reporters.
In addition, as detailed in our August 2023 article, New Zealand entities may be caught by sustainability reporting by other jurisdictions around the world, in which they operate, and hence the Sustainability knowledge hub will be of use to those entities.
Why a sustainability knowledge hub?
To support the implementation of IFRS S1 and IFRS S2, the IFRS Foundation launched its Sustainability knowledge hub at the United Nation’s 2023 climate conference, COP28, held in Dubai. It is a key component of the ISSB’s Capacity Building programme and includes content curated from the IFRS Foundation and its partners to help preparers get started applying the Sustainability Disclosure Standards. The content will help preparers and other stakeholders with different levels of knowledge and experience and will evolve and expand over time to respond to preparer needs, and as best practice develops in the market.How does the knowledge hub work?
The knowledge hub contains a resource database, IFRS resources, FAQs, webinars and podcasts as well as an archive. Content in the resources database can be filtered by:- Audience type (audit committees, boards, C-suite, CFOs, engineers, finance professionals, internal audit, risk management and sustainability professionals)
- Document type (articles, case studies, eLearning, education & training material, guidance papers, practice tools, reporting frameworks, technical articles, webcasts, etc.)
- Jurisdiction
- Language
- ISSB standards
- Topics (governance, metrics and targets, risk management, strategy, etc.)
- Industry-based guidance (various choices available)
Integrated reporting resources
For entities preparing integrated financial reports, the IFRS resources on the knowledge hub includes a mapping tool which demonstrates how to apply the Integrated Reporting Framework with IFRS S1 and IFRS S2 from next year. These resources are designed to guide companies on where IFRS S1 and IFRS S2 information regarding governance, strategy, risk management, and metrics and targets relates to the integrated report categories of governance, business model, risks and opportunities, strategy and resource allocation, performance, and outlook.For more on the above, please contact your local BDO representative.
This article has been based on an article that originally appeared on BDO Australia, read the article here.