The IPSASB approves its first sustainability reporting Exposure Draft, Climate-related Disclosures

The International Public Sector Accounting Standards Board’s (IPSASB) approval of its Climate-related Disclosures Exposure Draft (ED) is the beginning of the IPSASB’s work to advance public sector sustainability reporting. The ED proposes public sector considerations not covered by private sector sustainability reporting in order to improve accountability and consistency in reporting by public sector entities. The ED is expected to be published in October with a 4-month comment period.

The ED proposes:

• • • Disclosures aligned with IFRS S2 Climate-related Disclosures for all public sector entities’ own operations. An entity’s own operations generally include all of the activities in an entity’s operational model; and
      
      • • Additional disclosures by entities with the responsibility for the outcomes of climate-related public policy programmes. Climate-related public policy programme outcomes can include the impacts on the economy, environment and people, which are attributable to the entity’s public policy programmes on climate. Factors indicating that an entity has responsibility for the outcomes of climate-related public policy programmes are included in the ED.

The Board will expose the ED locally to ensure that stakeholders are informed of, and can contribute to, the IPSASB’s first proposed standard on sustainability reporting. Comment from stakeholders will be considered for inclusion in the ASB’s comment letter to the IPSASB.

Disclaimer

The article has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved, or otherwise acted on by the Board.