In February 2025, the IFRS issued a public consultation on proposed amendments to IFRS S2 Climate-related Disclosures to provide additional clarity and relief on greenhouse gas (GHG) emissions reporting. Key revisions aimed at easing the burden of Scope 3 emissions disclosures included allowing phased implementation timelines and refined definitions to reduce ambiguities.
The move responded to feedback from preparers, investors, and regulators highlighting the complexity of capturing comprehensive supply chain emissions, while maintaining the objective of robust climate risk transparency.
This consultative process underscored the IFRS Foundation’s commitment to iterative standard development, balancing usability and rigor amid rapidly evolving climate science and market expectations.
The final amendments were expected by mid-2025, supporting better global alignment with frameworks like the Greenhouse Gas Protocol and enhancing comparability across jurisdictions.
For detailed analysis: https://www.hsfkramer.com/notes/esg/2025-posts/ifrs-consults-on-amendments-on-ifrs-s2-on-climate-related-disclosures
