IFRS Foundation publishes guide to “climate-first” approach
On 30 January 2025, the IFRS Foundation published a guide to help companies with practical implementation of the “climate-first” approach proposed by the International Sustainability Standards Board (ISSB).
Readers will remember that this approach is based on a transition relief permitted by IFRS S1 in the first year of application, which allows companies applying the ISSB standards to only report on climate-related risks and opportunities in accordance with IFRS S2, therefore only applying the general requirements of IFRS S1 that relate to this topic.
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