EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
How EY can help
-
We merge traditional and innovative approaches, combined with a consistent methodology, to deliver quality audit services to you. Find out more.
Read more
COP28 was convened between 30 Nov – 13 December 2023 and a number of announcements related to global sustainability reporting were made there. This article highlights the particular announcements that company board members and executives need to be aware of as companies prepare their sustainability-related financial disclosures going forward.
Knowledge hub to support capacity building
The IFRS Foundation’s Sustainability Knowledge hub went live on COP28’s Climate Action Day to support preparers in using IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. IFRS S1 and IFRS S2 are the first ISSB standards issued by the International Sustainability Standards Board (ISSB); they are effective from 1 January 2024 subject to jurisdictional adoption. The Knowledge hub represents a key component of the IFRS Foundation’s capacity building programme in collaboration with a number of partners. It hosts content developed by the IFRS Foundation and third-party organizations which will be added to over time, according to market needs and emerging practices. Current resources on the hub include an introduction to the ISSB standards, a guide for transitioning from the Task Force on Climate-related Financial Disclosures (TCFD) recommendations to ISSB standards and a set of frequently asked questions. The Knowledge hub has been designed to help companies prepare their ISSB disclosures and it will also be a useful repository for auditors, investors, regulators and other stakeholders seeking to advance their understanding of the ISSB standards.