HKGFA submits member’s feedback in the comment letter on the International Sustainability Standard Board (ISSB) Exposure Drafts IFRS S1 S2. Comments and insights are collated from the HKGFA ESG Disclosure and Integration Working Group as well as the HKGFA member organizations, which consists of representatives from financial institutions, corporates and academia.
The International Sustainability Standards Board (ISSB) published the Exposure Draft IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and S2 Climate-related Disclosures for broad stakeholder feedback to commence 2H 2022. HKGFA welcomes the release of the two sustainability exposure drafts and see it as a critical step forward in the development of global standards in sustainability disclosure instruments.
- The Exposure Draft IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (General Requirements Exposure Draft) sets out the overall requirements for an entity to disclose sustainability-related financial information about all its significant sustainability-related risks and opportunities, to provide the market with a complete set of sustainability-related financial disclosures.
- The Exposure Draft IFRS S2 Climate-related Disclosures (Climate Exposure Draft) builds upon the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and incorporates industry-based disclosure requirements derived from SASB Standards