Course description
The ISSB has built on the work of various sustainability reporting initiatives, including the industry-based Sustainability Accounting Standards Board (SASB) Standards, Integrated Reporting Framework, the Task Force for Climate Related Financial Disclosures (TCFD), the Climate Disclosure Standards Board (CDSB) and the World Economic Forum’s Stakeholder Capitalism Metrics.
This course is focused on providing a sound understanding of the requirements of the existing IFRS Sustainability Disclosure Standards IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures which were published by the ISSB in 2023.
During the course, we will also cover concepts of materiality and value chain, understand how to apply the standards to sustainability-related topics other than climate, analyse the data requirements for reporting and disclosure, discuss the interlink between sustainability and financial reporting and review the ISSB’s current work plan. This will help participants plan for upcoming changes.
Suitability - Who should attend?
Accountants, managers and all other professionals who are involved or likely to be involved in the ESG and sustainability reporting cycle within a corporate environment or who are more broadly engaged with impact and sustainability and would like to obtain an in-depth understanding of the requirements of the IFRS Sustainability Disclosure Standards.
Outcome / Qualification etc.
- Review and apply the requirements of IFRS S1 General Requirements for Disclosure of Sustainability Related Financial Information and IFRS S2 Climate-related Disclosures
- Evaluate the practical considerations for ESG reporting, including materiality assessments, scope of value chain, use of judgements and estimates, connecting sustainability-related disclosures and financial reporting, transition requirements and reliefs
- Engage with stakeholders, including investors on the reporting of climate and other sustainability related matters
- Discuss challenges and opportunities associated with reporting based on the IFRS Sustainability Disclosure Standards and plan for future adoption
- Update on the work plan of the ISSB
- Explain how IFRS Sustainability Disclosure Standards interlink with other frameworks (ESRS, GRI).
Training Course Content
Introduction
- Overview of the ISSB and IFRS Sustainability Disclosure Standards
- Update on the ISSB work plan
IFRS S1 General Requirements for Disclosures
- Principles for preparation and presentation of sustainability-related information
- Identifying material sustainability-related risks and opportunities
- Scope of value chain
- Reporting under the core indicators: Governance, Strategy, Risk management, Metrics & targets
- Connection between sustainability and financial reporting
IFRS S2 Climate-related Disclosures
- Overview of reporting requirements of the standard
- Climate-related risks and guidance on scenario analysis
- Applying general and industry-specific metrics
- Accounting for greenhouse gas emissions
- Expectations of key regulators on reporting the impact of climate change in IFRS financial statements
Practical considerations
- Transition and first-year reliefs
- Implementation challenges and required actions for smooth adoption
- Interaction with other frameworks: ESRS, GRI
Course delivery details
- Group live or group internet based instruction and illustrative examples
- Review of the rationale and objectives for ISSB’s IFRS Sustainability Disclosure Standards
- Review & interpretation of IFRS Sustainability Disclosure Standards to illustrate key points
- Interactive participation will be encouraged
- At VantagePoint, we have a policy to avoid unnecessary printing. All course materials will be provided in soft copy. The only printed materials will be those necessary for exercises in class.
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