2023-11-21-安永-国际财务报告可持续披露准则深入解读-IFES_S1_18页_1mb

IFRS S1 Summary: International Financial Reporting Sustainability Disclosure Standard

Background

The International Sustainability Standards Board (ISSB) issued IFRS S1 (International Financial Reporting Sustainability Disclosure Standard 1) and IFRS S2 (International Financial Reporting Sustainability Disclosure Standard 2) on June 26, 2023, marking a shift from voluntary to mandatory sustainability disclosure. These standards, known as ISSB standards, will apply starting January 1, 2024, depending on national or regional adoption. IFRS S1 sets general requirements for sustainability-related financial disclosures.

Objectives and Scope

IFRS S1 aims to require entities to disclose important sustainability-related risks and opportunities that affect their financial prospects, primarily for use by investors and creditors. Scope includes all sustainability topics, such as climate change and biodiversity, and applies to entities regardless of the accounting principles used in financial statements.

Conceptual Framework

Key principles include:

• Faithful Representation: Disclosures must be relevant and faithfully represent sustainability impacts.
• Materiality: Information is material if omitting it could influence decisions; entities must assess and disclose based on importance.
• Reporting Entity: Disclosures should match the reporting entity's scope, including the value chain.
• Linked Information: Disclosures must link to financial statements and other sustainability topics.

Core Content

Core requirements are based on TCFD recommendations, covering governance, strategy, risk management, and metrics/targets.

Governance and Strategy

Disclose governance structures, strategic planning, and how sustainability risks and opportunities affect business models and financial performance. Emphasizes internal processes for integration.

Risk Management and Metrics/Targets

Cover processes for identifying, assessing, and prioritizing risks and opportunities, along with metrics and targets to track progress. Requires linking metrics to strategies and considering uncertainties.

General Requirements

• Disclosures must be part of general-purpose financial reports, ideally concurrent with financial statements.
• Include comparability with prior periods and comply with specific exemptions if applicable.
• Use appointed assurance for compliance statements.

Key Considerations Including Uncertainty and Errors

• Disclose significant judgments, uncertainties in estimates, and corrections of material errors to ensure faithful representation.
• Address high-level challenges like quantifying financial impacts and integrating sustainability into existing reporting.

Summary Insights

IFRS S1 provides a standardized framework for mandatory sustainability disclosure, potentially simplifying compliance for entities adopting ISSB standards. It integrates sustainability into financial reporting, with challenges in areas like materiality assessment, uncertainty management, and value chain analysis. Entities should prepare by establishing governance structures and leveraging existing frameworks like TCFD or SASB.