IFRS Foundation launches educational program to assist businesses in implementing sustainable reporting using ISSB guidelines
IFRS Foundation Launches E-Learning Course for ISSB Sustainability Standards
The International Financial Reporting Standards (IFRS) Foundation has introduced a new series of e-learning modules to aid companies in understanding and implementing the International Sustainability Standards Board (ISSB) sustainability and climate-related standards. This initiative is part of the Foundation's ongoing commitment to support the global adoption and implementation of ISSB Standards.
The e-learning course, available on the IFRS Sustainability Knowledge Hub, consists of four modules. These modules cover an introduction to the IFRS Sustainability Disclosure Standards, as well as introductions to IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), integrated sustainability disclosures, and organizational considerations.
After completing each module, users can take a short assessment to receive a certificate of completion. Eligible members of professional accounting bodies can also earn Continuing Professional Development (CPD) or Continuing Professional Education (CPE) credits.
The ISSB was established with the goal to develop IFRS Sustainability Disclosure Standards, with the aim to provide decision-useful globally comparable sustainability-related information for investors. The Board was launched in November 2021 at the COP26 climate conference.
The IFRS Foundation's e-learning course is designed to help companies subject to new reporting obligations under the ISSB standards build foundational knowledge. It serves as an introductory tool for companies beginning preparation for sustainability-related disclosures.
Sue Lloyd, ISSB Vice-Chair, stated that the e-learning course, along with the ISSB's library of educational materials, will help individuals understand and implement IFRS S1 and IFRS S2 effectively.
As of now, a total of 36 jurisdictions have moved to adopt or otherwise use the new ISSB standards. Among these, 17 jurisdictions have already finalized their approach to using the standards. The course is expected to play a significant role in facilitating the transition for these companies.
The IFRS released the inaugural general sustainability (IFRS S1) and climate (IFRS S2) reporting standards in June 2023. The ISSB was established with the goal to develop IFRS Sustainability Disclosure Standards to provide investors with information about companies' sustainability risks and opportunities.
This e-learning course is part of a broader educational offer that includes webinars and guidance to assist entities in practical application and compliance. The IFRS Sustainability Knowledge Hub provides access to these resources, aiming to ease the transition for companies in adopting IFRS Sustainability Disclosure Standards.
- Businesses looking to comply with the new sustainability and climate-related standards set by the International Sustainability Standards Board (ISSB) can benefit from the e-learning course offered by the IFRS Foundation, which covers topics such as finance, technology, and business practices.
- To stay competitive and meet the evolving financial industry demands, companies should take advantage of the e-learning course provided by the IFRS Foundation, enabling them to gain a firm understanding of the ISSB sustainability standards and how they can integrate these standards into their financial strategies and practices.
