Şafak Özsoy’s Post

The International Financial Reporting Standards (IFRS) Foundation and the European Financial Reporting Advisory Group (EFRAG) have released new guidance on the interoperability between the International Sustainability Standards Board's (ISSB) IFRS Sustainability Disclosure Standards and the European Sustainability Reporting Standards (ESRS). This guidance aims to simplify compliance for companies that must adhere to both standards by demonstrating the alignment between the two, particularly in climate-related disclosures. It includes practical support for how companies can apply both standards efficiently, addressing the general requirements such as materiality, presentation, and disclosures for non-climate sustainability topics, and detailing the specific alignment in climate disclosures. This effort follows initial collaboration during the standards' development to ensure a high degree of alignment, thereby reducing complexity, fragmentation, and duplication in reporting. https://lnkd.in/deAyV7G4

ESRS‒ISSB Interoperability guidance published The IFRS Foundation and EFRAG have published guidance material to illustrate the interoperability and high level of alignment achieved between ISSB Standards and the European Sustainability Reporting Standards (ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. The detailed guidance provides information about the alignment of climate disclosures and what a company starting with either set of standards needs to know to enable compliance with both sets of standards. https://lnkd.in/efSmRxW4 #ISSB #EFRAG #CSRD #Sustainabilityreporting

The IFRS Foundation and EFRAG have published guidance material to illustrate the high level of alignment achieved between #ISSB Standards and the #ESRS European Sustainability Reporting Standards and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. The guidance provides information about the alignment of climate disclosures and what a company starting with either set of standards needs to know to enable compliance with both sets of standards. https://lnkd.in/dE5KNHeZ

Such a neat little resource… Disclosure checklist for ISSB!! The International Sustainability Standards Board’s (ISSB) Climate-related disclosure checklist is intended to provide users with a summary of the required climate-related disclosures as set out in IFRS Sustainability Disclosure Standards and the related guidance as issued by the ISSB. Refer directly to the relevant ISSB Standards for the comprehensive disclosure requirements and additional context, and to local standards setters for any local interpretations. But this can guide you in getting started and/or to check everything is there before finalising!! Meg Fricke Megan Wilson Rebecca Dabbs Shae de Waal Emma Herd Terence Jeyaretnam Alexandra Banks Fiona Hancock https://lnkd.in/eVhiwizs

The International Financial Reporting Standards Foundation (IFRS) and the European Financial Reporting Advisory Group (EFRAG) jointly published interoperability guidelines for authorized entities. The guidelines align highly with those of the International Sustainability Standards Board (ISSB) and the European Sustainability Reporting Standards (ESRS), specifically on climate-related disclosures. The guidelines were issued on May 2, 2024 and apply to large EU and non-EU companies and financial institutions with more than 500 employees. The interoperability guidelines are designed to reduce the fragmentation and complexity of authorized entities that apply ISSB and ESRS standards. Therefore, organizations using this new document will be better able to collect, govern and control decision-useful information. https://lnkd.in/g55yZz_u #esg #climate #issb #esrs #eu

IFRS Foundation and EFRAG publish interoperability guidance The IFRS Foundation and EFRAG have published guidance material to illustrate the high level of alignment achieved between the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards (ISSB Standards) and the European Sustainability Reporting Standards (ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. Having first worked during the development of the ISSB Standards and ESRS to deliver a high degree of alignment, today’s publication now provides practical support that explains how companies can efficiently comply with both sets of standards. The guidance: * Describes the alignment of general requirements including on key concepts such as materiality, presentation and disclosures for sustainability topics other than climate; and * Provides information about the alignment of climate disclosures and what a company starting with either set of standards needs to know to enable compliance with both sets of standards. #IFRS #ESRS #ISSB #Sustainabilitystandards https://lnkd.in/evVRYCXx

🔍 The IFRS Foundation and EFRAG unveiled a groundbreaking game-changer: ESRS-ISSB Standards Interoperability Guidance. This document is your golden key to unlocking Sustainability Reporting Efficiency! Dive deep into the harmonization of ISSB and ESRS standards. Tables 4.2.1 and 4.2.2 are gems, showcasing how materiality, presentation, and disclosures are streamlined across these frameworks. It's more than just climate; it's about aligning your sustainability narrative seamlessly. 💼 For entities navigating both sets of standards, this guidance is a lifesaver. From defining financial materiality to sharing common terms, it's a roadmap for smoother compliance. And the best part? Almost all climate-related disclosures in ISSB are mirrored in ESRS, ensuring comprehensive reporting. 🌍 Let's embrace efficiency in sustainability reporting! With this interoperability guidance, reporting under both ISSB and ESRS becomes a breeze. Say goodbye to complexity and hello to streamlined disclosures that resonate with stakeholders! #ESGStandards #SustainabilityReporting #ClimateDisclosure #FinancialMateriality #Interoperability #ESRS #ISSB #GuidanceForEfficiency #SustainableFinance #AligningStandards #TransparentReporting #UnlockingEfficiency #GlobalImpact #SustainabilityLeadership #GreenFinance #ESGCompliance #SmartReporting #HarmonizingStandards #ClimateActionNow #InvestingForImpact #SustainableFuture #FinancialTransparency #EnvironmentalDisclosure #CorporateResponsibility #ReportingStandards #ImpactInvestment #SustainableBusinessPractices

One of the most common questions I receive when talking about #sustainabilityreporting is the difference between global (#ISSB) and European standards. Fortunately the IFRS Foundation and EFRAG have jointly published interoperability guidance on climate-related disclosures. The guidance illustrates the high level of alignment achieved between the IFRS sustainability disclosure standards and ESRS, including paragraph to paragraph alignment when possible! Read @PwC’s In brief for more details: https://pwc.to/3QzVdp7 #Viewpoint #IFRS #Sustainability #ESRS #EFRAG 

Unlocking Sustainability Reporting Efficiency: New Guidance for ESG Standards Alignment. 🧭🔍The IFRS Foundation and EFRAG have just dropped a game-changing document that’s about to make your life easier: ESRS-ISSB Standards Interoperability Guidance. ⬆ What’s Inside? Dive into the nitty-gritty of how the International Sustainability Standards Board (ISSB) and European Sustainability Reporting Standards (ESRS) harmonize. We’re talking materiality, presentation, and disclosures—beyond just climate. 💡 I particularly like tables 4.2.1 and 4.2.2: If you’ve already done a gap analysis against one of these standards, rejoice! These tables are your compass for seamless adaptation. 📥 Get the Material:

The IFRS Foundation and EFRAG unveiled a game-changing guide on May 2, 2024, streamlining corporate sustainability reporting. Designed to align with ISSB's IFRS Sustainability Disclosure Standards and ESRS, this guide focuses on climate-related disclosures, simplifying processes and eliminating redundancy. Key features include alignment of general requirements and detailed insights on climate disclosures. Stay ahead in sustainability! #EFRAG #ISSB #ESRS #SustainableFinance #ClimateAction https://lnkd.in/g_Zn2dkZ