IFRS S2 (Climate-related Disclosures)

IFRS S2 Climate-related Disclosures is the ISSB standard requiring entities to disclose information about climate-related risks and opportunities. Issued June 2023, effective January 1, 2024. IFRS S2 builds on TCFD recommendations and requires disclosures across four pillars: Governance (board oversight of climate risks); Strategy (climate risks and opportunities, scenario analysis, transition plan); Risk Management (how climate risks are identified and managed); and Metrics and Targets (GHG emissions — Scope 1, 2, and 3 — and other climate metrics). IFRS S2 mandates the use of GHG Protocol for emissions measurement. In December 2025, the ISSB issued targeted amendments to IFRS S2 GHG emissions disclosures (effective for reporting periods beginning January 1, 2027).

IFRS S2 Climate-related Disclosures (ISSB, June 2023); ISSB Amendments to Greenhouse Gas Emissions Disclosures (December 11, 2025, effective January 1, 2027).

IFRS S2 is now the de facto global climate disclosure standard, adopted by 36+ jurisdictions. Key requirements for manufacturers: disclose absolute gross Scope 1, 2, and 3 GHG emissions; conduct climate scenario analysis; disclose climate-related risks with financial implications; and publish a transition plan. December 2025 amendments ease Scope 3 Category 15 (financed emissions) requirements for financial firms. Scope 3 disclosures remain mandatory under IFRS S2 for all reporting entities.