ISSB Standards: IFRS S1 and IFRS S2
The investor-focused global baseline for sustainability and climate disclosure, now being adopted jurisdiction by jurisdiction.
- Jurisdiction
- Global (adopted per jurisdiction)
- Status
- Adopted by jurisdictions
- Applies to
- Entities in jurisdictions that adopt or reference the standards, and companies using them voluntarily for an investor-grade baseline.
- Timeline
- June 2023 — IFRS S1 and IFRS S2 issued
- 1 Jan 2024 — Effective for annual periods beginning on or after this date, where adopted
- 2024 onward — Jurisdictions publish adoption roadmaps, several with local adaptations
- Last reviewed
- June 2026
What it requires
IFRS S1 sets general requirements: disclose sustainability-related risks and opportunities that could reasonably be expected to affect a company's prospects. IFRS S2 covers climate specifically and builds on the four TCFD pillars — governance, strategy, risk management, metrics and targets.
Key features
- Financial materiality — the lens is the investor, unlike CSRD's double materiality
- Scope 1, 2 and 3 greenhouse gas emissions measured using the GHG Protocol
- Industry-based metrics that draw on the SASB Standards
- Transition reliefs in the first reporting year, including Scope 3 relief
Why it matters for your work
For many companies this becomes the common language for climate disclosure across markets. If you already work in TCFD, the step to IFRS S2 is mostly about rigour: scenario analysis, transition plans and Scope 3 data quality.
Watch for
Adoption is local. Each jurisdiction decides timing, scope and any modifications — always check the local regulator, not just the global standard.