ISSB reporting support: IFRS S1, IFRS S2, SASB and TCFD

The ISSB issued both standards in June 2023, and both are effective for annual reporting periods beginning on or after January 1, 2024. IFRS S1 asks a company to disclose material information about sustainability-related risks and opportunities that could reasonably be expected to affect its cash flows, access to finance or cost of capital, organized around governance, strategy, risk management, and metrics and targets. IFRS S2 applies the same structure to climate and integrates and builds on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Paragraph 29 of IFRS S2 sets out the cross-industry metrics. A company discloses its absolute gross Scope 1, Scope 2 and Scope 3 emissions in metric tonnes of CO2 equivalent, measured under the GHG Protocol Corporate Standard (2004) unless a jurisdictional authority or exchange requires another method. It then gives the amount and percentage of assets or activities vulnerable to transition risks and to physical risks, the amount aligned with climate-related opportunities, capital expenditure, financing or investment deployed toward risks and opportunities, whether and how an internal carbon price is used, and how climate considerations enter executive remuneration.

Not as a matter of US law. The SEC stayed its own 2024 climate disclosure rule on April 4, 2024, voted on March 27, 2025 to end its defense of it (SEC Press Release 2025-58), and published a proposal to rescind it on June 3, 2026 (91 FR 33296). No final rescission had been adopted as of 2026-10-16. The IFRS Foundation's April 2026 Advisory Council update counts more than 40 jurisdictions that had decided to use ISSB Standards, or were taking steps to introduce them, as of the end of March 2026. The names listed in the Americas include Brazil, Canada, Chile and Mexico, and the United States is not among them.

A US entity still ends up applying the standards when its parent sits in one of those jurisdictions, when a customer or lender in one asks for ISSB-based data, or when the US company chooses them voluntarily. California's SB 261 also names the ISSB's IFRS Sustainability Disclosure Standards as a framework a covered entity may use for its climate-related financial risk report. SB 261 is enjoined for now, which the SB 253 and SB 261 comparison explains with dates.

Whether any of these makes the standards apply to a particular US entity is a legal and group-policy question. Finbryn prepares the data once that is settled.

The UN Global Compact's page adds a deadline: participants that miss the submission window are marked Non-communicating, and those that have not filed a late report by December 31, 2026 are delisted on January 1, 2027. A group already preparing S1 and S2 data can usually reuse the same schedules for that report, with the CEO statement as a separate item.

In December 2025 the ISSB issued Amendments to Greenhouse Gas Emissions Disclosures (Amendments to IFRS S2), aimed at reducing complexity, duplicative reporting and cost. The IFRS Advisory Council's April 2026 update lists three topics: the measurement and disclosure of Scope 3 category 15 emissions beyond financed emissions, the classification system used to disaggregate financed emissions for relevant entities, and the measurement method and global warming potential values used. The amendments are effective for reporting periods beginning on or after January 1, 2027, with early application permitted.

Two moving parts affect a US entity's inventory. First, S2 still requires the 2004 Corporate Standard and the Scope 3 categories of the 2011 Scope 3 Standard, and the ISSB has said it is assessing whether to reference the GHG Protocol's updated standards once they are published. Second, the GHG Protocol's own Scope 2 revision is under consultation, so the market-based figure a group asks for may change definitions in the years ahead. Both are reasons to keep the factor register and methodology note current in the GHG inventory.

The work is organized around the group's template, not around Finbryn's own format.

• Template mapping. Each line of the group's ISSB request is matched to a source at the US entity: a ledger account, payroll report, utility record or the GHG inventory.
• Emissions schedules. Gross Scope 1, Scope 2 and, where the group asks for it, Scope 3 by category, on the GHG Protocol Corporate Standard, with Scope 2 on the location-based method and information on any contractual instruments.
• Financial-statement links. Cross-industry metrics such as capital deployed toward climate risks and opportunities are tied to amounts in the entity's books, because S2 expects the climate metrics to be consistent with the financial statements. The IFRS reporting packs already put US books in the parent's format, and consolidations carries the same entity structure.
• SASB screen. A short worksheet showing which SASB topics and metrics for the entity's industry management considered and what it concluded.
• Draft narrative. Governance and risk management text for management to edit, plus a TCFD and UN Global Compact crosswalk to the same data.

Scenario analysis, materiality calls and the judgments behind transition risk estimates stay with management.

Assurance over sustainability information is performed by an independent assurance provider the company or its group engages, under the standard the group's jurisdiction names. Finbryn provides none and does not describe any figure as verified. Legal conclusions about which standard applies belong to counsel and the group's reporting policy, and the final report belongs to the group. What Finbryn leaves behind is a set of schedules and a methodology note in which each number can be traced to a ledger, a utility record or a stated estimate.