Nepal opens consultation on sustainability reporting standards
The Accounting Standards Board (ASB) Nepal recently launched a public consultation on the draft Nepal Sustainability Reporting Standards (NSRS), aligning with IFRS S1 and S2. Feedback is invited until 16 August 2025 from stakeholders across government, industry and the reporting ecosystem.
The NSRS aims to provide a unified framework for sustainability-related financial disclosures, enhancing comparability, investor confidence, and alignment with Nepal’s 2045 net-zero targets. ASB Nepal’s move builds on existing regulatory initiatives and industry practices already underway across sectors such as banking, insurance, manufacturing and hospitality.
The draft outlines a phased approach to implementation, addressing challenges such as data collection, awareness, and technological capacity. Relief measures are included for first-time adopters, including temporary exemptions from Scope 3 emissions and comparative disclosures.
Standardised sustainability reporting, supported by structured data, will enable transparency, improve access to capital, and support strategic resilience across the economy. By aligning with IFRS S1 and S2, Nepal would join the 36 jurisdictions working to build a global baseline for comparable sustainability disclosures.
Download the consultation document and find out how to submit your feedback here.
