Service Description

IFRS I and IFRS II The sustainability standards of the ISSB (International Sustainability Standards Board) INTERNATIONAL CLIMATE RISK In June 2023, the ISSB published its first St (general) and S2 (climate) reporting standards to help companies communicate their sustainability efforts. Applicable from 2024 for reporting in 2025, these standards will make it easier to measure the risks and opportunities across an organisation's entire value chain in the short, medium and long term. IFRS I and II are based on the principle of simple materiality with a focus on dimate risk analysis, while integrating the measurement of emissions in the 3 scopes, emission reduction commitments, carbon offsetting and the internal price of carbon, among others. Who reports? Any company can voluntarily use these standards as the basis for its annual reporting It should be noted that governments may make it compulsory for companies to adopt these standards. The United Kingdom, Japan and Canada (among others) have already expressed an interest in introducing IFRS-based reporting requirements Benefits • Interoperability of these standarde with numerous climate indicators of the CSRD Recommendation to publish specific indicators on resilience, financial positions, metrics and trajectones. New basis for supporting investors in redirecting their capital according to companies commitments. What is reported? The SSBs extra-financial standards incorporate the TCFDs recommendations and are based on IFRS (International Financial Reporting Standards) accounting standards This standard sets out general financial reporting requirements relating to sustainable development, specifically on the risks and opportunities. The following information will be disclosed: The processes used by the organisation to identify, assess, prioritise and monitor risks and opportunities The organisation's strategy for managing these risks and opportunities; The governance processes, controls and procedures for monitoring, managing and overseeing masks and opportunities; The organisation's performance in relation to risks and opportunities, including progress towards achieving objectives it has set or is required to meet by law or regulation This standard will oblige companies to analyse the physical and transitional risis associated with climate change, as well as the resulting opportunibes, throughout the value chain (with an additional year to apply this