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TAC Public Meeting July 2026 Paper 2: July General Reporting Update
Executive summary
| Date | 14 July 2026 |
|---|---|
| Paper reference | TAC-Update-July-2026 |
| Project | Monitoring |
| Topic | July 2026 General Reporting Update |
Objective of the paper
This paper provides key updates since the update paper published for the June 2026 TAC meeting.
This includes a summary of the ISSB meetings and related developments, in addition to jurisdictional developments in relation to the adoption of IFRS Sustainability Disclosure Standards to date.
The information in this paper is provided as at 1 July 2026 and does not include any developments after this date.
Decisions for the TAC
There are no decisions required. This paper is for information only.
Appendices
- Appendix 1: Jurisdictional developments.
This paper has been prepared by the Secretariat for the UK Sustainability Disclosure Technical Advisory Committee (TAC). It does not represent the views of the TAC or any individual TAC member.
Context
1The objective of this paper is to inform the TAC of international and jurisdictional developments in sustainability-related reporting. It is for information purposes only and does not ask the TAC to make any decisions.
2The TAC will be provided with an update of UK-specific, international and jurisdictional developments on sustainability-related reporting at each of its meetings.
UK developments
3The following paragraph provides a summary of updates from the UK in relation to sustainability-related reporting since the last update paper published for the June 2026 TAC meeting.
4The Institute of Chartered Accountants in England and Wales (ICAEW) has announced a strategic partnership with the IFRS Foundation and the UN Sustainable Stock Exchanges (UN SSE) to support the implementation of a global baseline for sustainability reporting. This includes being recognised as an official Training Partner by the ISSB (see paragraph 8).
International Sustainability Standards Board & other international body developments
5The following paragraphs provide a summary of updates from the ISSB since the last update paper published for the June 2026 TAC meeting.
6The ISSB met on the 24-25 June and finalised decision-making for its standard-setting project on nature-related disclosures. The agenda covered: an update on essential terms and concepts, including an illustrative drafting of defined terms; a paper on sources of guidance for metrics, including a consideration of the Taskforce on Nature-related Financial Disclosures (TNFD) framework; and a first application of the Practice Statement and statement of compliance. The Update summarising the meeting is now available.
7On 29 June 2026, ISSB Vice-Chair Sue Lloyd spoke at the IFRS Foundation Conference about the ISSB's nature-related disclosure proposals.
8The IFRS Foundation announced the launch of the ISSB Training Partner Programme, which will enable qualified organisations to deliver training on applying the ISSB Standards using materials developed by the IFRS Foundation.
9The ISSB published its Q2 2026 Implementation Insights podcast, featuring discussions about the resources available when applying the ISSB Standards, the requirements for companies disclosing information about biogenic emissions, and the GHG Protocol.
10It also published the June 2026 episode of its monthly podcast, which reflects on the nature-related disclosures project following the ISSB's June meeting.
11The TNFD and Accounting for Sustainability (A4S) have together released a practical guide for CFOs to approach nature-related issues.
12The TNFD has published draft guidance on integrating environmental crime into nature-related assessments. Consultation on the draft is open until 7 August 2026.
13The TNFD has also published a set of guiding questions for Chief Legal Officers looking to incorporate nature-related considerations into their risk management, compliance and strategy.
14The International Organization for Standardization (ISO) has published ISO 32212:2026, a net zero transition planning standard for financial institutions.
15The Science Based Targets initiative (SBTi) has published an update to its Corporate Net-Zero Standard. The changes made include: introducing a range of new target-setting options in order to reflect different business contexts; a stronger focus on implementation; encouragement to prioritise direct GHG emissions reductions; acknowledgement that external factors can affect progress; and introducing a mechanism for recognising companies which are taking action.
Jurisdictional developments
16The following paragraphs provide a summary of updates from other jurisdictions in relation to sustainability-related reporting since the last update paper published for the June 2026 TAC meeting.
European Union
17The European Parliament's Committee on Economic and Monetary Affairs (ECON) discussed the Sustainable Finance Disclosure Regulation (SFDR) on 3 June, following a draft report aiming at making the SFDR clearer, more robust, and more effective at channelling capital towards a sustainable economy.
18The European Commission (the Commission) is developing guidelines to support the implementation of the Corporate Sustainability Due Diligence Directive (CSDDD). To support their development, the Commission has launched a call for evidence, which is open until 24 July 2026.
New Zealand
19The External Reporting Board (XRB) have opened a consultation on a draft climate reporting roadmap, which sets out the creation of a new climate standard aligned with IFRS S2, to be issued at the end of August 2027 and made mandatory for those entities already mandated to report on climate after 1 January 2033. The consultation is open until 30 September 2026.
United States of America
20The California Air Resources Board (CARB) has postponed the deadline for reporting GHG emissions by three months, from 10 August to 10 November 2026 to allow reporting entities additional time to prepare. The requirement applies to US-based companies operating in California with over $500m in revenue.
Appendix 1: Jurisdictional developments
G20 jurisdictions committed to adopting IFRS Sustainability Disclosure Standards
Table 1 summarises the status of G20 jurisdictions publicly committed to adoption or other use of the IFRS Sustainability Disclosure Standards.
Table 1: G20 jurisdictions (countries and regional bodies) summary as at 1 July 2026.
| Jurisdiction | Current status | Both IFRS S1 & IFRS S2? | Reporting commencing from | Companies in scope |
|---|---|---|---|---|
| African Union: Ethiopia | Consultation on roadmap closed | Both | 2026-2029 | Listed & unlisted |
| African Union: Ghana | Endorsed | Both | 2027-2028 | Significant Public Interest Entities (Listed & unlisted) |
| African Union: Kenya | Endorsed and published roadmap | Both | 2025-2027 | Public Interest Entities; Non-Public Interest Entities (large entities); Small- to Medium-Sized Entities |
| African Union: Morocco | Publicly committed | - | - | - |
| African Union: Nigeria | Endorsed and published roadmap | Both | 2028-2030 | Public Interest Entities; Small- to Medium-Sized Entities |
| African Union: Rwanda | Endorsed and published roadmap | Both | 2025-2026 | Listed & unlisted |
| African Union: Tanzania | Endorsed | Both | 2025 | Listed & unlisted |
| African Union: Uganda | Endorsed | Both | 2026-2028 | Listed |
| African Union: Zambia | Endorsed | Both | 2025 | Listed |
| African Union: Zimbabwe | Consultation closed | Both | 2026-2027 | Listed & unlisted |
| Australia | Endorsed | Both: AASB S1-voluntary AASB S2 - mandatory | 2025 | Listed & unlisted |
| Brazil | Endorsed | Both | 2026 | Listed – voluntary, but any reporting must fully apply CBPS (ISSB) |
| Canada | Endorsed | Both | 2025 | Currently voluntary |
| China | Endorsed | Both | 2026-2027 | Listed & unlisted |
| India | Consultation closed | IFRS S2 only | 2025-2029 | Banking & finance |
| Indonesia | Consultation closed | Both | 2027-2029 | Listed & unlisted |
| Japan | Endorsed | Both | - | Listed |
| Mexico | Endorsed | Both | 2026 | Listed & unlisted |
| South Korea | Consultation on roadmap closed | Both | 2028-2029 | Listed |
| Türkiye | Endorsed | Both | 2024 | Regulated financial institutions & large companies |
Other jurisdictions committed to adopting IFRS Sustainability Disclosure Standards
Table 2 summarises the status of non-G20 jurisdictions publicly committed to adoption or other use of the IFRS Sustainability Disclosure Standards.
Table 2: Other jurisdictions (countries and regional bodies) summary as at 1 July 2026.
| Jurisdiction | Current status | IFRS S1 & IFRS S2? | Reporting commencing from | Companies in scope |
|---|---|---|---|---|
| Bangladesh | Endorsed | Both | 2024-2027 | Banking & finance |
| Bolivia | Endorsed | Both | 2027 | Listed & unlisted |
| Chile | Endorsed | Both | 2026 | Listed |
| Costa Rica | Endorsed | Both | 2025-2026 | Listed & unlisted |
| Hong Kong | Endorsed | Both | 2025 | Listed |
| Jordan | Endorsed | Both: IFRS S1-voluntary FRS S2-Mandatory | 2027 | All entities listed in the ASE20 index |
| Malaysia | Endorsed | Both | 2025-2027 | Listed & large unlisted |
| Panama | Publicly committed | - | - | - |
| Pakistan | Endorsed | Both | 2025-2027 | Listed & unlisted public interest companies |
| Philippines | Consultation closed | Both | 2026 | Listed |
| Qatar | Endorsed | Both | 2026 | Financial institutions regulated by the Qatar Central Bank |
| Singapore | Endorsed | IFRS S2 only | 2025-2027 | Listed |
| Sri Lanka | Endorsed | Both | 2025 | To be confirmed |
| Switzerland* | Consultation open | Both (but also requires impact materiality to be addressed) | 2026 | Listed & unlisted |
| Taiwan | Endorsed | Both | 2026-2028 | Listed |
| Thailand | Endorsed | Both | 2026-2030 | Listed |
| New Zealand | Consultation on roadmap open | IFRS S2 only | 2027 (voluntary); 2033 (mandatory) | Listed & unlisted |
*The draft corporate sustainability law currently under consultation in Switzerland specifies that large companies will have to report under ESRS or an equivalent standard. It does not specify what standards will be considered equivalent. As of June 2025, the ISSB considered Switzerland as a jurisdiction in the process of adopting the IFRS Sustainability Disclosure Standards.
G20 jurisdictions not publicly committed to adopting IFRS Sustainability Disclosure Standards
Table 3 summarises the status of G20 jurisdictions not publicly committed to adoption or other use of the IFRS Sustainability Disclosure Standards.
Table 3: G20 jurisdictions (countries and regional bodies) summary as at 1 July 2026.
| Jurisdiction | Current status | Topics | Reporting commencing from | Companies in scope |
|---|---|---|---|---|
| Argentina | Unconfirmed | - | - | - |
| European Union (EU)* | European Sustainability Reporting Standards (ESRS) & Corporate Sustainability Reporting Directive (CSRD) – consultation closed | Ten topical standards including a general and climate change standard | 2024-2028 | Listed & unlisted |
| Voluntary SME Standard (VSME) – consultation closed | ||||
| Russia | Unconfirmed | - | - | - |
| Saudi Arabia | Unconfirmed | - | - | - |
| South Africa | Unconfirmed | - | - | - |
| United States of America | California Corporate Climate Accountability Act (SB 253 and SB 261) - adopted | California: 2026 | California: Listed & unlisted | |
| New York Climate Corporate Data Accountability Act (SB 3456) - bill | New York: 2027-2028 | New York: Listed & unlisted | ||
| Colorado Corporate Climate Accountability Act (House Bill 25-119) - bill | Colorado: 2028-2031 | Colorado: Listed & unlisted |
*Although ESRS are required to be used by EU member states, the IFRS Foundation and EFRAG issued interoperability guidance in 2024 illustrating the high level of alignment achieved between ISSB Standards and ESRS. Note that this is subject to change as the European Commission is due to adopt simplified ESRS mid-2026. [As at 1 July 2026 the finalised Simplified ESRS has not been issued.] These simplified ESRS with reduced disclosure are those submitted in EFRAG's technical advice to the Commission in December 2025 and have undergone consultation.