Climate Disclosures (IFRS S2)

What Climate Disclosures (IFRS S2) requires

Entities must provide comprehensive disclosures concerning significant climate-related risks and opportunities to meet investor information needs under IFRS S2. This mandate requires a detailed exposition of governance processes, controls, and procedures used for monitoring climate issues. The standard necessitates a robust strategy involving the identification and mapping of both physical risks plus transition risks. An entity’s climate resilience assessment must utilize scenario analysis, evaluating its strategy against a maximum temperature alignment scenario of 1.5 degrees Celsius. Quantitative disclosures are central, demanding the measurement of absolute gross Scope 1, Scope 2, and also Scope 3 greenhouse gas emissions, calculated in accordance with the GHG Protocol Corporate Standard. Furthermore, organizations must quantify the current and anticipated financial impacts of identified climate factors on their financial position, performance, and cash flows. These climate-related financial disclosures are to be reported concurrently with an entity’s annual financial statements, permitting a reporting lag of zero days. To ensure relevance, the disclosures must incorporate industry-specific metrics, leveraging the SASB Standards where applicable, thereby providing a complete picture of an enterprise's climate exposure and management approach.

Pillar: Banking & Global Finance · Authority: IFRS / ISSB Foundation · Version: 1.1.0 · Last updated: 2026-04-09

Primary source: https://www.ifrs.org/groups/international-sustainability-standards-board/

SHA-256 integrity: 9005be3c36b319c868556c4845bda937c1fc98967e55d0f09990e1a13695de67

Primary Citations — 6 traced to source

• {"citation":"IFRS S2 Climate-related Disclosures, Paragraph 5 (Governance)","description":"Requires an entity to disclose information about the governance processes, controls and procedures it uses to monitor, manage and oversee climate-related risks and opportunities."}
• {"citation":"IFRS S2 Climate-related Disclosures, Paragraph 10 (Strategy - Risks and Opportunities)","description":"Mandates the disclosure of climate-related risks (physical and transition) and opportunities that could reasonably be expected to affect the entity's prospects."}

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