On July 24, the International Financial Reporting Standards (IFRS) Foundation released near-final illustrative examples to help companies reflect climate-related uncertainties in their financial statements using existing IFRS Accounting Standards. These practical examples aim to close the gap between sustainability disclosures and audited financial reports.

The IFRS Foundation has released new guidance to help companies disclose their climate transition plans more effectively under IFRS S2. This move aims to reduce fragmentation in sustainability reporting and support global consistency in climate-related disclosures.

The International Accounting Standards Board (IASB) has recently published a consultation document aimed at helping companies improve their reporting on climate-related risks and other uncertainties. This initiative responds to growing investor demand for clearer and more consistent climate-related information in financial statements.

The week, CDP and the IFRS Foundation announced that CDP will incorporate the International Sustainability Standard Board’s (ISSB) climate-related disclosure standard into its environmental disclosure program. With 18,700 companies, worth half of global market capitalization, disclosing environmental information through CDP in 2022, this integration means there will be a rapid acceleration of early adoption of ISSB climate data disclosure across the global economy.