Climate-related disclosures


In November 2021, the IFRS Foundation announced the creation of its new International Sustainability Standards Board (ISSB) tasked with developing a comprehensive global baseline of high-quality sustainability disclosure standards to meet investors’ information needs.

In order to facilitate a running start of the ISSB, a Technical Readiness Working Group (TRWG) had been created in March 2021. Concomitantly with the announcement of the formation of the ISSB, the TRWG published a Climate-related disclosures prototype.

In an additional meeting in March 2022, the Due Process Oversight Committee (DPOC) confirmed that it does not object to the ISSB Chair and Vice-Chair publishing the exposure draft Climate-Related Disclosures that builds on the TRWG prototype before the ISSB is quorate.

The climate-related disclosures prototype was structured around the four TCFD pillars of governance, strategy, risk management, and metrics and targets.

The main proposals in ED/2022/S2 Climate-related Disclosures generally reflect the proposals in the prototype. Some changes were made to improve specificity and clarity with some added disclosure requirements. A noticeable change regards the internationalisation of metrics that referred to specific jurisdictions.


Current status of the project

ED/2022/S2 Climate-related Disclosures was published on 31 March 2022 with comments requested by 29 July 2022.


Project milestones

Date Development Comments
March 2021 Technical Readiness Working Group (TRWG) created
November 2021 Climate-related disclosures prototype published
31 March 2022 ED/2022/S2 Climate-related Disclosures published
Comments requested by 29 July 2022

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