About
In May 2024, the IFRS Foundation stated in the Inaugural Jurisdictional Guide (Guide) its plans to develop and publish jurisdictional profiles. These profiles are informed by bilateral discussions with jurisdictions and developed using the features set out in Section 3.4 of the Guide.
With the Guide and the publication of jurisdictional profiles, the IFRS Foundation intends to provide transparency to capital markets, regulators, other relevant authorities and other stakeholders on jurisdictional progress towards the adoption or other use of ISSB Standards.
Considering the demand for the information, the IFRS Foundation has published the first set of profiles. It will continue adding them to the website for all jurisdictions that have finalised their regulatory approach.
Profiles
The profiles are prepared when a jurisdiction’s approach to sustainability reporting is finalised and no longer subject to consultation—that is, when jurisdictions:
- have formally announced or finalised their decisions on the adoption or other use of ISSB Standards; or
- have otherwise introduced sustainability-related disclosure requirements.
Each profile describes a jurisdiction’s current and planned approach to adoption or other use of ISSB Standards, as outlined in the Guide, and provides information about important elements of the approach.
The profiles are developed following a rigorous process to obtain and verify information. The profiles are also developed though cooperation with relevant jurisdictional authorities and input from international audit firms.
Snapshots
The IFRS Foundation has developed jurisdictional snapshots (high-level overviews) for those jurisdictions that have finalised their approach but whose profiles are still in development, or whose regulatory status is in progress. The snapshots provide a preview of the jurisdiction’s proposed regulatory framework based on a preliminary understanding of the proposals. Snapshots therefore may differ from the jurisdiction’s final requirements which will be described in the future jurisdictional profiles the IFRS Foundation may publish, including as a result of additional information or changes made by a jurisdiction in finalising its approach to sustainability-related disclosure requirements.
These snapshots provide the market with timely information about jurisdictions that have taken steps towards considering adoption or other use of ISSB Standards.
Disclaimer
The information in these profiles is for general guidance only and may change from time to time. You should not act on the information in the profiles, and you should obtain specific professional advice to help you in making any decisions or in taking any action in relation to this profile. If you believe that the information is incorrect, please contact the IFRS Foundation Regulatory Affairs team.
The purpose of the Foundation’s jurisdictional profiles is to illustrate the extent of application of the Standards across the globe. The profiles do not reflect the intellectual property licensing status of the Standards within any given jurisdiction. The Standards are protected by copyright and are subject to licensing arrangements agreed upon within their jurisdiction. For further information, please contact the licensing team.
