BDO has released International Sustainability Reporting (ISR) Bulletin Update, which provides a snapshot of sustainability reporting with a focus on the updates related to the International Sustainability Standards Board’s (ISSB) IFRS Sustainability Disclosure Standards - IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1) and IFRS S2 Climate-related Disclosures (IFRS S2) - issued on 26 June 2023 and the European Sustainability Reporting Standards (ESRS) adopted by the European Commission on 31 July 2023 as well as other organisations.
In May 2024, the International Financial Reporting Standards (IFRS) Foundation and EFRAG have released guidance material to illustrate the alignment between the ISSB’s IFRS Sustainability Disclosure Standards and the ESRS.
Purpose of the Guidance
- To describe the alignment of general requirements including on key concepts such as materiality, presentation and disclosures for sustainability topics other than climate; and
- To provide 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.
BDO issues periodic ISR Bulletins as sustainability standards are evolving quickly.