International Sustainability Standards Board (ISSB): Resources and guidance
In June 2023, the ISSB issued its first two IFRS Sustainability Disclosure Standards IFRS S1, General Requirements for Disclosure of Sustainability-Related Financial Information and IFRS S2, Climate-related Disclosures, which are effective for annual reporting periods beginning on or after January 1, 2024. CPA Canada is a proud capacity-building partner in the IFRS Foundation’s Partnership Framework, which is designed to support preparers, investors and other capital market stakeholders as they get ready to use the standards.
The following resources and guidance will help you navigate and prepare your entity for the Sustainability Disclosure Standards issued by the ISSB.
Sustainability Reporting Alerts
1. Sustainability Reporting Alert: Scope 1 & 2 GHG Emissions
The purpose of this alert is to:
- raise awareness of the scope 1 and 2 GHG emissions disclosure requirements
- identify specific topics that are anticipated to be areas of challenge
- help preparers get their organization ready for IFRS S2 reporting requirements
2. Sustainability Reporting Alert: Scope 3 GHG Emissions
- raise awareness of factors relevant to scope 3 GHG emissions measurement and disclosure requirements
- identify aspects of the scope 3 GHG emissions requirements of the GHG Protocol that are anticipated to be challenging
- provide CPAs with the basic knowledge to begin their scope 3 reporting journey
- help preparers get their organization ready for IFRS S2 reporting requirements
- what is climate-related scenario analysis?
- why should an entity conduct a climate-related scenario analysis and why is it important for stakeholders?
- what are the requirements in IFRS S2 for conducting climate-related scenario analysis and the related disclosure requirements?
- what are some of the challenges associated with climate-related scenario analysis?
- how does climate-related scenario analysis interact with IFRS Accounting Standards?
4. Sustainability Reporting Alert: Transition Planning
- how entities may be affected by climate-related risks and opportunities and the transition to a lower-carbon economy
- a transition planning overview
- reporting requirements under IFRS S2 regarding an entity’s strategy and decision-making related to transition plans
- relevant tools and resources
5. Sustainability Reporting Alert: Climate-related Disclosure Standards and Requirements: The Reporting Landscape
- describe the most significant elements of the sustainability reporting regulatory landscape that apply to Canadian companies operating locally and abroad
- explain how companies may be scoped into sustainability reporting requirements in different jurisdictions
- identify ways small and medium-sized companies may be impacted by the new wave of sustainability reporting
6. Sustainability Reporting Alert: Processes and Controls over Sustainability Reporting
- the varying levels of maturity of entities in their sustainability reporting journey
- the importance of robust processes and controls over sustainability reporting
- common challenges relating to sustainability reporting processes and controls
- developing high quality and timely sustainability reporting
- next steps to drive effectiveness of sustainability reporting processes and controls
Additional resources and guidance:
- Webinars: Sustainability Reporting and Assurance – What You Need to Know
- Webinar: Sustainability Disclosure Priorities for 2024
- Webinar: The Future of Sustainability Reporting with ISSB Standards (in partnership with Institute of Corporate Directors)
- Webinar: The Future of Sustainability Reporting with ISSB Standards – Interoperability (in partnership with Institute of Corporate Directors)
- Webinar: The Future of Sustainability Reporting with ISSB Standards – Assurance Requirements (in partnership with Institute of Corporate Directors)
- Webinar: The Future of Sustainability Reporting with ISSB Standards – Responding to ESG Backlash (in partnership with Institute of Corporate Directors)