Last year, the International Sustainability Standards Board (ISSB) issued its first standards: IFRS S1 and IFRS S2.
Check out the reporting standards and how companies can adapt their sustainability actions:
IFRS S1 defines how entities should prepare and report their sustainability-related financial disclosures, establishes general requirements for the content and presentation of these disclosures so that the information is useful in making decisions about providing resources to the entity, and also focuses on disclosing sustainability risks and opportunities.
IFRS S2 requires entities to disclose information about climate risks and opportunities that is useful to users of financial reports in decision-making. The information should cover how climate risks may affect cash flows, access to financing and the cost of capital in the short, medium and long term.
Since January 1, 2024, IFRS S1 and IFRS S2 have been in force in the international market. They promote global accounting standardization, financial transparency and corporate governance related to sustainability and climate.
The standards also generate benefits for companies, facilitate international trade and provide access to investments and credit lines favored for companies that meet ESG criteria or are mature in sustainability.
In Brazil, this implementation is a significant step towards integrating transparency and environmental responsibility into corporate management, reinforcing the commitment to sustainable practices.
In order to prepare our member companies for the adoption of these standards, in August we will hold an exclusive webinar presenting and detailing the standards and how they can transform the sustainable management of their companies. The meeting will have the participation of Arturo Rodríguez, Manager for Ibero-American Relations, at the IFRS Foundation.
