The IFRS Foundation announced that the ISSB is targeting October 2026 to publish an Exposure Draft of a proposed IFRS Practice Statement on nature-related disclosures. As previously reported, the Practice Statement is in lieu of a new standalone standard or amendments to IFRS S1 and IFRS S2. The proposed guidance would aim to support companies in providing investor-focused disclosures regarding material nature-related risks and opportunities under IFRS S1 by building on the TNFD framework and addressing topics such as governance, strategy, metrics and targets, location-specific considerations, and the relationship between climate and nature. Although use of the Practice Statement would be voluntary unless required by a jurisdiction, it would be developed through the same due process as an IFRS Standard.
The Society plans to evaluate participation in the consultation once the Exposure Draft is released.
This post first appeared in the weekly Society Alert!