IPSASB releases exposure draft for inaugural sustainability reporting standard

The International Public Sector Accounting Standards Board (IPSASB) released an exposure draft for its inaugural sustainability reporting standard, SRS ED 1, which is aligned with ISSB standards. The comment period for this draft ends on 28 February 2025.
The draft, titled "Climate-related Disclosures," aims to provide essential information for users of general-purpose financial reports, such as service recipients and resource providers. It focuses on:
  • Climate-related risks and opportunities affecting an entity's operations, in line with public sector guidance.
  • Climate-related public policy programs and their outcomes, addressing the dual role of governments.
The disclosure requirements are adapted from the four pillars of IFRS S2: governance, strategy, risk management, and metrics and targets, with additional proposed guidance for the public sector. The draft also includes proposals for conceptual foundations and general requirements based on IFRS S1.
More details are available in the press release, the full SRS ED 1 document, and an "At A Glance" summary on the IPSASB website.