The International Public Sector Accounting Standards Board (IPSASB) announced the release of its finalized “IPSASB SRS 1, Climate-related Disclosures,” a new standard aimed at enabling governments and public sector entities report on climate-related risks and opportunities, marking the first sustainability reporting standard for the public sector.
Generally aligned with IFRS S2, disclosure requirements under the new standard include the oversight of climate-related risks and opportunities, strategy and decision-making, processes to identify, assess, prioritize and monitor climate-related risks and opportunities, and Scopes 1, 2, and 3 emissions. The standard takes effect for disclosures beginning January 2028.
