In 2023, the International Sustainability Standards Board (ISSB) issued its first two international IFRS Sustainability Disclosure Standards (IFRS SDS), IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’.
As part or ongoing efforts to support the implementation of IFRS SDS, the IFRS Foundation has published material aimed at both reporting entities and jurisdictional authorities to assist in the adoption and successful application of IFRS SDS. To contribute to meeting these aims, the IFRS Foundation has released profiles of jurisdictions that have adopted IFRS SDS either fully or partially, and more recently, guidance on disclosures about transition plans.
In response to observed fragmentation of disclosures around transition plans, the ISSB has prepared guidance to provide additional help to reporting entities in meeting the requirements set out in IFRS S2. The guidance has been prepared following several roundtable discussions with stakeholders and focuses on delivering compatibility with the ISSB global baseline.
The guidance:
Although IFRS S2 does not require an entity to have a transition plan, disclosures about climate-related transitions may be required to provide material information about sustainability-related risks and opportunities. This new guidance will help preparers in making these disclosures.
The guidance can be accessed here.
To support efforts to encourage adoption of IFRS SDS around the world, and to provide greater transparency to capital markets, regulators, other relevant authorities and other stakeholders, the IFRS Foundation has published a set of jurisdictional profiles to demonstrate progress towards the adoption or other use of ISSB Standards.
As the date of publication (12 June 2025), 36 jurisdictions have adopted or are otherwise using IFRS SDS, or are in the process of finalising steps to introduce them into their regulatory frameworks. The IFRS Foundation has published jurisdictional profiles on 17 of these jurisdictions. The profiles include stated targets for alignment with IFRS SDS and the current status of sustainability-related requirements in each jurisdiction. Of these 17 profiles, 14 jurisdictions have set a target of fully adopting ISSB Standards, two have set a target of adopting the climate requirements, and the final jurisdiction is targeting partially adopting IFRS SDS.
Alongside these profiles, the IFRS Foundation have also published 16 jurisdictional snapshots which provide a more high-level overview of the jurisdictions’ regulatory approaches towards adopting IFRS SDS.
The full list of jurisdictional profiles and snapshots can be found here.
We are pleased to see the ISSB continue to engage with stakeholders and identify areas where they can provide more guidance and transparency. The guidance document on transition plan disclosures will, in our view, provide useful insight to preparers of sustainability reports and help to achieve more consistency in disclosures. The jurisdictional profiles also provide a valuable tool for jurisdictions and regulators around the world to demonstrate the adoption efforts, and increased use of IFRS SDS.