IFRS S1 mandates disclosure of sustainability-related risks and opportunities that could reasonably be expected to affect an entity’s prospects, requiring clear reporting on governance, strategy, risk management and metrics and targets. Disclosures must be material, complete, neutral and accurate, and connected to the reporting entity’s financial statements and value chain; entities should use reasonable and supportable information and may refer to SASB, CDSB and other recognised guidance where specific IFRS Sustainability Disclosure Standards are absent.

The Standard prescribes location, timing and comparative requirements, statements of compliance, and disclosure of judgements and measurement uncertainty, while allowing limited exemptions for legal or commercially sensitive information. Application is mandatory for annual periods beginning on or after 1 January 2024, with specified transitional relief for first-time adopters.