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IASB releases educational material on IFRS Standards and climate risks
The IASB released a document for educational purposes, noting the requirements in IFRS for financial statement disclosures related to climate risks.
The document does not change, remove, or add to, the requirements in IFRS standards and the intention is to support robust climate-related disclosures.
Stakeholders are increasingly interested in the impact of climate change on entities’ business models, cash flows, financial position and financial performance. While IFRS Standards do not explicitly refer to climate-related matters, entities must consider them in applying IFRS Standards when the effect of those matters is material.