IPSASB charts two-part path for public sector climate clarity
At its June meeting in Toronto, the International Public Sector Accounting Standards Board (IPSASB) made the decision to split its climate-related disclosure project into two phases. The move follows extensive stakeholder input on Exposure Draft 1 (ED 1), with the Board receiving its highest-ever number of responses to a technical consultation.
Phase one, dubbed “Own Operations,” will focus on how public sector entities report climate-related risks and opportunities within their own operational footprint. Phase two, “Public Policy Programs,” will take a deeper dive into how governments and other public bodies disclose the impact and performance of climate-related programmes they design and deliver. The phased approach aims to deliver much-needed guidance now, while allowing more time to tackle the complex and distinct challenges of policy-level reporting.
IPSASB’s standards are a first in sustainability reporting for the public sector, providing a path towards greater climate accountability by governments. The IPSASB’s work draws from international momentum, echoing the integrated reporting and sustainability disclosure efforts led by the International Sustainability Standards Board (ISSB).
Access the exposure draft, summary and comment letters here.
