Approaches to climate-related risk disclosure in the draft international climate-related disclosure standard

Malinovskaya, N.V.

doi:10.24891/ia.25.7.728

2022

DOI: 10.24891/ia.25.7.728

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Approaches to climate-related risk disclosure in the draft international climate-related disclosure standard

N.V. Malinovskaya

Abstract: Subject. This article discusses the Exposure Draft IFRS S2 Climate-related Disclosure Standard. Objectives. The article aims to address the content of the proposals set forth in the Exposure Draft that is one of the first documents published by the International Sustainability Standards Board in the structure of the IFRS Foundation for comment. Methods. For the study, I used analysis, synthesis, comparison, and generalization. Results. Based on a study of the structure of the Exposure Draft IFRS S2 Standard, t… Show more

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Cited by 3 publications

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International sustainability reporting standards: A comparative analysis

Malinovskaya

2022

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Subject. This article discusses the Exposure Drafts of International Sustainability Reporting Standards. Objectives. The article aims to explore the particularities of the architecture of Drafts Sustainability Reporting Standards submitted by the International Sustainability Standards Board (ISSB) under the IFRS Foundation and the Project Task Force on European Sustainability Reporting Standards. Methods. For the study, I used analysis, synthesis, comparison, and generalization. Results. Based on a comparative analysis of the architecture, provisions and substance of the Exposure Drafts submitted by the two developers, the article notes that there are certain differences in aspects of the organization's activities covered by the studied systems of standards, goal-setting, and approaches to determining the materiality and applicability. Conclusions and Relevance. The Exposure Drafts of the International Sustainability Standards Board (ISSB) under the IFRS Foundation aim to meet the information needs of capital markets, and they are based on the concept of financial materiality. The application of the European Standards will provide information in the field of sustainable development to a wide range of stakeholders, since they are based on the concept of double materiality. Both the systems aim to create conditions for more complete, coherent, comparable, and verifiable information in the field of sustainable development. The results of the study can be applied in the development of Russian requirements for the disclosure of sustainability-related information.

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International sustainability reporting standards: A comparative analysis

Malinovskaya

2022

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Sustainability factors consideration: Emerging trends in financial reporting

MALINOVSKAYA,

KIREEVA

2024

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Subject. This article discusses the requirements for disclosure of sustainability factors in financial statements due to the release of the International Disclosure Standard IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information. Objectives. The article aims to reveal the content of the main provisions set forth in the IFRS S1 Standard issued by the International Sustainability Standards Board (ISSB) (sponsored by the IFRS Foundation), assess the possibility of applying the requirements of the Standard in Russia, and identify possible problems in its implementation and propose ways to solve them. Methods. For the study, we used analysis, synthesis, comparison, generalization, and abstraction. Results. The article defines that the presentation of information on risks and opportunities related to sustainable development should be carried out from the perspective of four aspects, namely governance, strategy, risk management, metrics and goals of the organization in the field of sustainable development. It discloses the content of the main sections of the Standard and formulates the factors and conditions for the applicability of the IFRS S1 Standard in Russia, as well as possible problems associated with its application, and proposals for their solution. Conclusions. The requirements for disclosure of financial information on risks and opportunities related to sustainable development, established by the International Disclosure Standard IFRS S1, are aimed to increase the availability of key users of financial statements to information reflecting the impact of sustainable development factors on the financial position, financial results, and cash flows of the organization. Standardization of disclosure of such information can help reduce the costs of preparers, analysts, auditors and other interested users, and stimulates the current trend of introducing the concept of sustainable development into management practice, including by Russian organizations.

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Carbon credits and greenhouse gas emissions quota fulfillment units: Accounting aspect

MALINOVSKAYA

2024

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Subject. This article discusses the approaches to the formation and presentation of information on carbon credits and greenhouse gas emissions quota fulfillment units in the companies' financial reporting. Objectives. The article aims to study international accounting practices and ways to disclose carbon credits and greenhouse gas emissions quota fulfillment units in financial reporting to design a national accounting methodology for new accounting objects that have appeared due to the regulated and voluntary carbon market’s development in Russia. Methods. For the study, I used analysis, synthesis, comparison, generalization, and abstraction. Results. The study deepens knowledge about legal regulation concerning reducing greenhouse gas emissions in the Russian Federation, adds titles to the literature on accounting for carbon emissions allowances, summarizes methods of financial reporting disclosure, justifies the need to develop a national accounting methodology for carbon credits and greenhouse gas emissions quota fulfillment units. Conclusions. The article contributes to improving awareness of all stakeholders about the consequences of the lack of clear recommendations on the formation, presentation and disclosure carbon credits and greenhouse gas emissions quota fulfillment units in financial reporting. The availability of a unified national methodology for the formation and disclosure of information about carbon credits will reduce the administrative burden on companies and ensure comparability of financial reporting for these new accounting objects.

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Approaches to climate-related risk disclosure in the draft international climate-related disclosure standard

Cited by 3 publications

References 12 publications

International sustainability reporting standards: A comparative analysis

International sustainability reporting standards: A comparative analysis

Sustainability factors consideration: Emerging trends in financial reporting

Carbon credits and greenhouse gas emissions quota fulfillment units: Accounting aspect

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