California has confirmed a series of first-year relief measures for companies preparing to report greenhouse gas emissions under the state’s Climate Corporate Data Accountability Act, SB 253. The California Air Resources Board (CARB) has introduced additional flexibility for the first reporting cycle as companies transition into the new requirements. Under CARB’s Initial Regulation, the first…

Australia is considering changes to its mandatory climate-related financial disclosure regime aimed at reducing compliance costs while maintaining the quality, credibility, and international comparability of climate reporting. The Australian Treasury opened a consultation on August 24, 2026, focused on three areas: climate disclosure assurance, clearer guidance on key reporting concepts, and reducing the burden of…

The IFRS Foundation has announced a five-year operating and financing plan for the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The plan is intended to strengthen the Foundation’s capacity to develop and maintain globally recognized accounting and sustainability disclosure standards. It comes as jurisdictions worldwide continue to adopt or use…

The Greenhouse Gas Protocol and the International Organization for Standardization have announced plans to develop a single, harmonized global standard for corporate greenhouse gas accounting. The consolidated standard will bring together the GHG Protocol Corporate Standard, Scope 2 Guidance, Scope 3 Standard and the developing Actions and Market Instruments framework with ISO 14064-1. A consolidated…

Singapore has opened a public consultation on draft Sustainability Disclosure Standards aligned with IFRS S1 and IFRS S2. The proposals explain how the ISSB Standards would be adapted for Singapore, which requirements would be mandatory and how they would operate alongside the country’s phased climate-reporting roadmap. The Accounting and Corporate Regulatory Authority’s Interim Sustainability Standards…

California is proposing to limit the initial Scope 3 emissions disclosures required under Senate Bill 253 to five commonly reported categories. The California Air Resources Board (CARB) presented the proposed approach during a public workshop on the state's Corporate Greenhouse Gas Reporting Program. The regulator said stakeholder feedback had raised concerns about the cost, complexity…

Korea is significantly expanding its planned mandatory sustainability reporting regime. The country’s Financial Services Commission (FSC) has finalized a roadmap that will extend the rules to major KOSPI-listed companies in stages from 2028. This article explains what changed, who it covers, the timeline, and how to prepare. The roadmap does not apply to all Korean…

The European Commission has formally adopted a revised set of European Sustainability Reporting Standards (ESRS) on 3 July 2026 as part of its broader efforts to simplify sustainability reporting across the European Union. The revised standards aim to reduce the administrative burden on companies while maintaining the quality, consistency, and comparability of sustainability disclosures required…

The European Supervisory Authorities (ESAs)—comprising the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), and the European Insurance and Occupational Pensions Authority (EIOPA)—have published a package of proposed amendments aimed at simplifying reporting requirements under the EU Taxonomy Regulation. The proposals were developed in response to the European Commission’s request for technical…

The California Air Resources Board (CARB) has proposed extending the first greenhouse gas (GHG) emissions reporting deadline under California’s Climate Corporate Data Accountability Act (SB 253). The initial reporting deadline for Scope 1 and Scope 2 emissions has been moved from August 10, 2026, to November 10, 2026, providing organizations with an additional three months…

The International Sustainability Standards Board (ISSB) has proposed allowing companies to use disclosure metrics developed by the Taskforce on Nature-related Financial Disclosures (TNFD) to help meet nature-related disclosure requirements. The proposal forms part of the ISSB's upcoming IFRS Practice Statement on nature-related disclosures, with an Exposure Draft expected to be published for public consultation in…