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California Climate Corporate Data Accountability Act (CCDAA)
CDP Reporting Framework
Corporate Sustainability Reporting Directive (CSRD)
International Financial Reporting Standards (IFRS) S1 and S2
Partnership for Carbon Accounting Financials (PCAF)
Understanding the Global Reporting Initiative (GRI)

The International Financial Standards Foundation (IFRS) established the International Sustainability Standards Board (ISSB) to address the growing demand for sustainability-related information, which is crucial for economic and investment decisions. The ISSB issued the IFRS Sustainability Disclosure Standards, IFRS S1, General Requirements, and IFRS S2, Climate-related Disclosures, in June 2023. IFRS uses Sustainability Accounting Standards Board (SASB) standards as a key input in developing its global sustainability disclosure standards, and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations serve as the foundation for the climate-related disclosures within IFRS S2. IFRS S2 effectively incorporates the TCFD’s recommendations, ensuring that companies reporting under IFRS S1 and S2 will also meet the requirements of the TCFD framework. This integration aims to streamline the sustainability reporting landscape and provide investors with consistent and comparable climate-related information. 

The IFRS Sustainability Disclosure Standards S1 and S2 set a global baseline for consistent, comparable, and reliable sustainability-related financial disclosures. IFRS S1 focuses on general sustainability-related risks and opportunities, while IFRS S2 addresses climate-related disclosures. Together, they help organizations communicate how sustainability matters impact enterprise value—bringing sustainability reporting in line with financial reporting standards. As the global shift towards sustainable business intensifies, these standards provide clarity and structure for companies navigating ESG disclosures. Further, IFRS is closely aligned with the European Sustainability Reporting Standards (ESRS), the reporting standard of the Corporate Sustainability Reporting Directive (CSRD). 

Whether you’re preparing your first sustainability report or aligning existing disclosures with IFRS standards, we help you simplify compliance, enhance transparency and unlock strategic insights for investors and stakeholders. 

Sphera can support you at all stages of the IFRS reporting process

IFRS S1 Disclosure of sustainability-related financial information

IFRS S1 reporting standard’s objective is for organizations to disclose information about sustainability-related risk and opportunities to investors.

How Sphera can help:

Sphera sustainability consultants work with your team to perform a materiality assessment and identify the key sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s prospects.

Execute a gap assessment

Once you have determined what information is material, execute a gap assessment for a clear understanding of where you meet the IFRS standards and where gaps remain.

How Sphera can help:

Sphera consultants provide guidance on the IFRS Sustainability Standards and can help you evaluate your current sustainability performance against IFRS S1, IFRS S2 and SASB requirements and metrics.

Assess climate risk

Organizations need to conduct a climate risk assessment based on scenario analysis to assess their resilience and better inform on strategic decisions.

How Sphera can help:

Sphera consultants work with your team to perform a climate risk assessment based on scientific climate models and data from the Intergovernmental Panel on Climate Chage (IPCC), identifying and assessing key climate-related physical and transition risks and climate related opportunities. The results can be configured in SpheraCloud Corporate Sustainability dashboards and communicated with stakeholders.

Transition planning

A climate transition plan outlines how your organization’s business model and strategy align with its decarbonization commitments and establishes the steps, timelines and resources needed to achieve those goals.

How Sphera can help:

Sector-specific Sphera consultants work with your team to prepare your transition plans and provide full documentation of your transition roadmap. SpheraCloud Corporate Sustainability can be used to document the actions you will take and monitor your progress against your goals.

Reporting using IFRS standards

If reporting using IFRS S1 and S2 standards, be sure the sustainability-related disclosures connect with other financial reports for general purpose, are useful for investors and stakeholders to aid in decision-making. Your organization should regularly review the disclosures and update with the most recent risks and opportunities identified.

How Sphera can help:

Our modular approach provides flexible, tailored support to help your organization prepare for IFRS sustainability reporting. Whether you’re just starting with data collection or already drafting your disclosures, we offer end-to-end expertise—from designing data processes and aligning with IFRS S1 and S2 requirements to report writing and independent expert reviews. You choose the level of support you need—our services adapt to your internal capabilities, timelines, and reporting maturity. Document your climate-related risks and opportunities with SpheraCloud Corporate Sustainability’s IFRS S2 template. Leverage framework answer mapping, XBRL tagging and receive notifications when there are updates to the IFRS S2 framework.

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