In 2024, the IFRS Foundation made significant strides in promoting transparency and consistency in sustainability and corporate social responsibility (CSR) reporting worldwide. The Foundation’s International Sustainability Standards Board (ISSB), established in 2021, continued to gain momentum by supporting more than 35 jurisdictions adopting or using its sustainability disclosure standards. These include IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), which became effective for reporting periods starting January 2024. The ISSB focused on extensive stakeholder engagement and capacity-building initiatives to facilitate the consistent application of these standards. Additionally, the ISSB began research and development into enhancing sector-specific standards and expanding disclosures to cover emerging CSR topics such as biodiversity, ecosystems, human capital, and social matters. This effort reflects a growing recognition of CSR and sustainability as critical components in reporting frameworks, enabling investors to better assess companies’ non-financial risks and opportunities. The IFRS Foundation’s 2024 annual report highlights these developments and the Foundation’s commitment to fostering a unified approach to CSR reporting aligned with global capital markets’ needs.
For full details, please read the IFRS Foundation’s 2024 annual report here: Read more about IFRS Foundation Annual Report 2024
