IFRS accounting requirements for climate-related matters in financial statements

Финансовый учет вопросов влияния климата
August 9, 2023

The IFRS Foundation published an updated version of its educational material developed to help companies determine how to consider climate-related matters when preparing their financial statements applying IFRS Accounting Standards.

IFRS Accounting Standards are developed by the International Accounting Standards Board (IASB) and do not contain direct references to climate-related matters. However, the IASB’s Standards require companies to consider climate-related matters in their financial statements if the effects of these matters are significant. The examples of situations in which companies applying the IASB’s Standards might need to consider the effects of climate-related matters in their financial statements are provided in the educational material.

The educational material was first published in 2020. The IFRS Foundation published updated version in light of changes including the International Sustainability Standards Board’s (ISSB) inaugural IFRS Sustainability Disclosure Standards, issued on 26 June 2023. The ISSB’s Standards, together with the educational materials, may help companies better identify matters, including climate change, that affect the financial statements, and correctly apply IFRS Accounting Standards when accounting for them.

The IASB is also working on Climate-related Risks in the Financial Statements Project to explore whether and how financial statements can better convey information about climate-related risks. The IASB will consider whether to include risks and opportunities related to sustainable development in the scope of the project, in addition to those related to climate.

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