Canadian Consultation: Climate-related Disclosures Exposure Draft

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Jun 01, 2022

Financial Reporting & Assurance Standards (FRAS) Canada is embarking on a consultation project to solicit feedback from Canadians on the International Sustainability Standards Board’s (ISSB) Exposure Draft IFRS S2 “Climate-related Disclosures.”

The objective of [Draft] IFRS S2 “Climate-related Disclosures” is to require an entity to disclose information about its exposure to significant climate-related risks and opportunities, enabling users of an entity’s general purpose financial reporting:

  1. to assess the effects of significant climate-related risks and opportunities on the entity’s enterprise value;
  2. to understand how the entity’s use of resources and corresponding inputs, activities, outputs, and outcomes support the entity’s response to and strategy for managing its significant climate-related risks and opportunities; and
  3. to evaluate the entity’s ability to adapt its planning, business model, and operations to significant climate-related risks and opportunities.

Review the exposure draft on FRAS Canada's website.

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