MAS Managing Director Mr Chia Der Jiun met Mr Erkki Liikanen, Chair of the IFRS Foundation Trustees, Ms Andrea Pryde, Acting Managing Director of the IFRS Foundation, and Mr Ong Chong Tee, Trustee, IFRS Foundation, to discuss the importance of globally consistent and comparable climate-related disclosures to enable more efficient capital allocation and pricing of climate risks. MAS values our close partnership with the IFRS and the continued work of the International Sustainability Standards Board (ISSB), in delivering high-quality and decision-useful climate-related disclosures that help investors make better investment decisions, and to enhance transparency about climate risks and opportunities at the global level.
Monetary Authority of Singapore (MAS)’s Post
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Help is on the way. In our latest edition of ESG Insights, Marie-Josée Privyk, CFA, RIPC, FSA Credential explores the following topics: - EFRAG approves voluntary ESRS for small- and medium-sized enterprises - EFRAG and GRI enhance collaboration with a new MoU - The IFRS Foundation launches a knowledge hub to build capacity for the adoption of the IFRS SDS And more. Follow the link in the comments to subscribe and receive the latest version of our newsletter 👇
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Exploring the horizon of financial changes with the arrival of the new IFRS regulations, where environmental commitment is in harmony with the ESG framework. Download the CCPA circular to explore in detail the new IFRS regulations and their impact: https://lnkd.in/eyEevJPu
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For preparers looking for guidance in understanding and applying the new IFRS Sustainability Disclosure Standards, a range of supporting material has been released on the IASB’s website. Australian companies seeking to prepare for proposed mandatory climate-related disclosures will find the IFRS S2 material more relevant, as the AASB’s current work plan is focused on adopting a climate focused version of IFRS S1 at this time.
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Sustainability has risen to its rightful place of prominence in conversations in Global Summits, national Parliaments, private and public sector Boardrooms and, we daresay, homes across the globe. The reasons for these necessary conversations are as obvious as they are, arguably, urgent for the continuance of life as we currently contemplate and understand it. Indeed, the International Accounting Standards Board (IASB) issued two sustainability-related standards in June 2023: IFRS S1 General Requirements for Disclosure of Sustainability-Related Financial Information IFRS S2 Climate-Related Disclosures We invite you and your legal, governance, risk and ESG teams to register and join us on Thursday 16th and Friday 17th November 2023 at Fairmont The Norfolk for an exposition of these two standards and what they mean for your business and for your stakeholders. We look forward to engaging with you! Registration Link: https://lnkd.in/dpvDdBKW #sustainability #ESG #Sustainablegovernance #IFRS Rosemary Ngure Jackie Oyuyo Githinji Reba Chabeda - Ouko
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If you’re at #climateweeknyc and at all responsible for Sustainability/ESG reporting, I would recommend attending this session. There has been lots of movement on the reporting side of sustainability and it seems to just be accelerating.
Managing Director Climate Change and Sustainability Services at EY, Focused on ESG reporting advisory and assurance
Really looking forward to #climateweeknyc next week! We just added a new event with the IFRS Foundation on September 19th at 4pm. This event will dive into the requirements of the new standards and discuss practical steps companies can take now to prepare to move from TCFD to alignment with the IFRS Sustainability Disclosure Standards. Velislava Ivanova Mardi McBrien RSVP here: https://lnkd.in/g7xgRK7e
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Attended a presentation by an ISSB boardmember during Ecosperity week; he'd ended his presentation with : "Do not be afraid of IFRS". And ISSB does not mandate 3rd party review ( assurance). Just do it, is the key messaging. #IFRS #ISSB #reporting
The ISSB Standards are here! Today, the International Sustainability Standards Board (ISSB) has issued its inaugural standards—IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures—ushering in a new era of sustainability-related disclosures in capital markets worldwide. The Standards will help to improve trust and confidence in company disclosures about sustainability to inform investment decisions. And for the first time, the Standards create a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects. We look forward to working with jurisdictions and companies to support adoption and implementation. You can find out more about the two Standards below, and access them on our website using the new IFRS Sustainability Standards Navigator. https://lnkd.in/eu9zjxMf #IFRSsustainability #ISSBstandards #IFRS #ISSB #sustainability
ISSB issues IFRS S1 and IFRS S2
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Sustainability Transformation and Strategy | ESG Reporting and Assurance | Climate Governance | Ethics and Compliance | Diversity and Inclusion
It has now been almost a month since ISSB issued its inaugural sustainability standards - IFRS S1 and S2, sparking both enthusiasm and critique. Critics have rightly argued that these new standards fall short of being holistic, catering solely to investor perspectives. While a valid argument, the primary goal of ISSB is to seamlessly integrate sustainability disclosures into financial statements in a manner that resonates with investors, lenders, and creditors. By doing so, reporting organizations can convey their long-term sustainability performance in a language that these stakeholders understand best - financial figures and metrics. The aim is to make sustainability information more relevant, comparable, and accessible to the financial community, based on the understanding that investors play a pivotal role in decision-making and resource allocation. By embedding these disclosures within financial statements, we can bridge the gap between financial performance and sustainable practices, allowing investors to make informed decisions that align with their values and risk appetites. This move towards sustainability integration is not meant to, or at least should not, disregard the significance of a broader, all-encompassing approach to ESG matters. On the contrary, it represents an essential first step in cultivating a financial ecosystem where sustainability is not an isolated component, but rather an integral part of the decision-making process. As organizations adapt and evolve, embracing sustainability in a way that makes sense for all stakeholders is crucial. This is a transitional period for both sustainability and financial reporting, and I'm eagerly anticipating what the future holds, hoping for continuous improvements and further advancements on the horizon. #IFRS #ISSB #ESG #sustainabilitymatters
The ISSB Standards are here! Today, the International Sustainability Standards Board (ISSB) has issued its inaugural standards—IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures—ushering in a new era of sustainability-related disclosures in capital markets worldwide. The Standards will help to improve trust and confidence in company disclosures about sustainability to inform investment decisions. And for the first time, the Standards create a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects. We look forward to working with jurisdictions and companies to support adoption and implementation. You can find out more about the two Standards below, and access them on our website using the new IFRS Sustainability Standards Navigator. https://lnkd.in/eu9zjxMf #IFRSsustainability #ISSBstandards #IFRS #ISSB #sustainability
ISSB issues IFRS S1 and IFRS S2
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BDO has released ISR Bulletin 2024/01 31 December 2023 Year-end Sustainability Reporting Update, which includes information on developments by the International Sustainability Standards Board (ISSB), European Financial Reporting Advisory Group (EFRAG) and the US Securities and Exchange Commission (US SEC), that have been put forward relating to sustainability and climate reporting. This ISR Bulletin also contains summaries of major events in sustainability reporting during 2023. Read more here : https://lnkd.in/dyEst7eU Parag Patadiya, Muhammad Husnain Munawar & Aman Maheshwari #bdo #bdouae #ifrs
IFRS Accounting Standards at a Glance
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The announcement that the UK will adopt climate reporting standards based on the International Sustainability Standards Board (ISSB), reported by The Telegraph's Simon Foy, will set an example for countries around the world. ☀️ 📏The recent backlash against ESG - which has often been measured by self-serving, inaccurate reporting - should hasten the transition to impact investing, a growth area with a global market of over $2tn. To accurately measure impact, globally recognised benchmarks for measurement of the environmental and social impacts companies make will be critical. By adopting the standards set by the ISSB, the UK has an opportunity to drive global impact transparency, a critical step to prevent greenwashing and restore confidence in the role of impact investing to solve some of the globe’s biggest challenges. #ImpactTransparency #ImpactInvesting #ESG https://lnkd.in/eCuwffpX
The ISSB Standards are here! Today, the International Sustainability Standards Board (ISSB) has issued its inaugural standards—IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures—ushering in a new era of sustainability-related disclosures in capital markets worldwide. The Standards will help to improve trust and confidence in company disclosures about sustainability to inform investment decisions. And for the first time, the Standards create a common language for disclosing the effect of climate-related risks and opportunities on a company’s prospects. We look forward to working with jurisdictions and companies to support adoption and implementation. You can find out more about the two Standards below, and access them on our website using the new IFRS Sustainability Standards Navigator. https://lnkd.in/eu9zjxMf #IFRSsustainability #ISSBstandards #IFRS #ISSB #sustainability
ISSB issues IFRS S1 and IFRS S2
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