The International Public Sector Accounting Standards Board (IPSASB) issued today (29 January) its inaugural climate-related disclosure standard for public sector bodies (IPSASB SRS1).
Approved by the board in December, IPSASB SRS1 sets out disclosure requirements on climate-related risks and opportunities associated with organisations’ own operations.
The standard is explicitly based on the ISSB’s climate standard for the private sector (IFRS S2), with some amended definitions for the public sector context.
“Governments play a fundamental role in climate action," IPSASB chair Thomas Müller-Marqués Berger stated. “Climate-related information is therefore essential for stronger public financial management as it provides insights into the climate-related risks and opportunities to governments’ operations. By doing so, the new disclosures enable efficient access to capital markets to mobilise the additional financing needed for climate resilience.”
IPSASB SRS1 is effective for annual reporting periods beginning on or after 1 January 2028, with earlier adoption permitted.
The standard-setter will host a webinar on 12 February to outline the details of the climate standard.
Companies:IPSASB
People:Thomas Müller-Marqués Berger