Regulatory Frameworks & Reporting Standards 5 min read

What is IFRS S1 & S2? Definition and Context

Credibility Check & Framework Comparison

To ensure absolute regulatory accuracy and reliability, we verify definitions across leading international frameworks before presenting our synthesized SME context.

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IFRS Foundation / ISSB

"The inaugural global baseline standards for sustainability-related financial disclosures (S1) and climate-related disclosures (S2)."
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EFRAG

"International reporting standards designed to interoperate with the ESRS, with EFRAG coordinating closely on definition alignments."
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TCFD

"The foundational framework upon which IFRS S2 was built, integrating climate risk governance, strategy, risk management, and metrics."

ExecutESG Consolidated Definition

IFRS S1 & S2

IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) are the first two standards issued by the ISSB, effective from 2024.

Requirements:

  • IFRS S1: Disclosing sustainability risks and opportunities that affect cash flows over short, medium, or long term.
  • IFRS S2: Detailed disclosures regarding climate governance, physical/transition risks, Scope 1-3 GHG emissions, and scenario analysis.

SME Relevance & B2B Inbound Action:

If your SME has international corporate buyers or plans to raise venture capital, aligning with IFRS S1 and S2 is key. Calculate and format these indicators automatically on ExecutESG.

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