International Sustainability Standards Board (ISSB)’s Post

Sustainability reporting news! The #IFRS Foundation and EFRAG have published guidance outlining the level of alignment between the ISSB standards (IFRS S1 and IFRS S2) and the ESRS. (link in comments). Audifina - Lucanet partner in Baltic States is at your services whenever you need a consultation on sustainability or financial reporting. #ESRS, #sustainabilityreporting, #ESG, #IFRS

Aligning with ISSB can bring a lot of benefits - but there are also risks of non-compliance. Failing to properly prepare for IFRS S1/S2 disclosure could lead to fines, legal issues, higher costs of capital, exclusion from investor portfolios, and reputational damage. Furthermore, misleading sustainability reporting could trigger the same legal consequences as misleading financial reporting. Preparation may require significant resources, but the benefits of preparing for and reporting along IFRS S1/S2 will outweigh the costs. Dig deeper into the topic here: https://lnkd.in/djKP9NK2 #ISSB #IFRS #SustainabilityDisclosure International Sustainability Standards Board (ISSB), Catherine (Katie) Osborn, Katie Langemeier

#ISSB & #ESRS Interesting news for companies navigating the world of #sustainability reporting! The #IFRS Foundation and EFRAG have published guidance outlining the level of alignment between the ISSB standards (IFRS S1 and IFRS S2) and the ESRS. (link in comments) This guidance breaks down the level of alignment into four sections: 1. General reporting requirements: Sets out level of alignment on materiality, presentation and disclosures on sustainability topics other than climate. 2. Common climate-related disclosures: Illustrates level of interoperability on climate-related disclosure requirements. 3. ESRS to IFRS S2: Information an entity reporting under ESRS needs to know to also comply with ISSB standards. 4. IFRS S2 to ESRS: Information an entity reporting under the ISSB standards needs to know to also comply with the ESRS. #SSB vicechair Sue Lloyd notes that this guidance will be a practical tool for companies looking to #comply with both sets of #standards. Stay informed and stay ahead in your #sustainability reporting efforts! Reach out to our #ESG Experts LucaNet and our #partners for further guidance. #IFRSFoundation #EFRAG #ESRS #ISSB #sustainabilityreporting #guidance #interoperability.

Have questions about IFRS S1/S2, or the impending ASRS equivalents? Reach out to ERM! We have all the answers.

The Interoperability Guidance published by #EFRAG and #IFRSFoundation is very helpful for companies that want to comply with both #ESRS and #ISSB standards, especially for multi-national companies. This summary document (4 pages) published by #EY highlights the key areas of detail Guidance document (33 pages) published by #EFRAG and #IFRSFoundation. #sustainabilityreporting #EY #CCaSS

#EY #ISSB #ESRS #GCRS The IFRS Foundation and EFRAG together have just published guidance material on the alignment between the ISSB Standards and ESRS. The material provides interoperability guidance for climate-related sustainability disclosures under ESRS and ISSB Standards. Click below to read or download our publication on this.

Interoperability in financial reporting, such as between ESRS and IFRS standards, is crucial for simplifying and managing the implementation process for companies. It helps in aligning different standards, making it easier for companies to comply with regulations and enhance the transparency and comparability of financial information across different jurisdictions.

The Inaugural Jurisdictional Guide for the adoption or other use of International Sustainability Standards Board (ISSB) Standards (Jurisdictional Guide) aims to promote globally consistent and comparable #climate and other #sustainability-related #disclosures for #capitalmarkets through the adoption or other use of ISSB Standards internationally. It supersedes the Preview of the Inaugural Jurisdictional Guide for the adoption or other use of ISSB Standards, published in February 2024, and builds on The jurisdictional journey towards implementing IFRS S1 and IFRS S2—Adoption Guide overview, published in July 2023, which was welcomed by the International Organization of Securities Commissions (IOSCO). The Jurisdictional Guide also builds on IOSCO’s endorsement of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures and IOSCO’s call to its members to consider ways in which they might ‘adopt, apply or otherwise be informed by’ the ISSB Standards within the context of their jurisdictional arrangements in a way that promotes consistent and comparable climate and other sustainability-related disclosures for capital markets.

IFRS Foundation and EFRAG team has published interoperability guidance on ESRS and ISSB Standards. Let's understand what it means in digital reporting and XBRL reporting. This interoperability guidance aims to streamline reporting processes for entities adhering to both ESRS and ISSB Standards. It's structured into four sections: 1. General reporting requirements comparison between ESRS and ISSB Standards, focusing on materiality, presentation, and disclosures for sustainability topics other than climate. 2. Comparison of common climate-related disclosures, showcasing the alignment between ESRS and ISSB Standards through tabulated presentations. 3. Guidance from ESRS to IFRS S2 (climate), providing essential information for entities transitioning from ESRS to comply with ISSB Standards. 4. from IFRS S2 (climate) to ESRS, offering insights for entities moving from ISSB Standards to adhere to ESRS, including additional disclosure requirements in ESRS not found in IFRS S1 or S2. #ESG #ESRS #ISSB #digitalreporting #XBRL #iXBRL

The European Financial Reporting Advisory Group (EFRAG) last week published the ESRS-ISSB standards interoperability guidance, informing companies on how to implement the ESRS and IFRS S2 standards together. In the visual below, we’ve highlighted the alignment between ESRS E1 (Climate Change topic standard) and IFRS S2 (Climate-related Disclosure) provided in this document (see Kyle Greenstein’s post on the calculations). While there is a lot of highly useful info within the guidance document, we’ve highlighted the interoperability piece since this may help the majority of companies to better understand, simplify, and manage workloads for implementing these standards. To read the interoperability guidance, click here: https://lnkd.in/eNXaAYCk For Kyle’s post on calculations and further takeaways, see here: https://lnkd.in/eHbXDJzs #efrag #esrs #issb #ifrs #interoperability #esgreporting