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IPSASB Develops First Climate Disclosure Standard for the Public Sector

As climate change continues to pose global challenges, the need for coordinated action involving both public and private sectors has never been more critical. Addressing these challenges requires substantial investments and financial sustainability, yet public sector resources alone are insufficient to meet the growing demands of a low-carbon transition.

Recognizing the vital role of capital markets in public sector financing, the International Public Sector Accounting Standards Board (IPSASB®), with support from The World Bank, is developing the world’s first climate-related disclosure standard for public sector entities. The draft standard, IPSASB SRS™ ED 1, Climate-related Disclosures, aims to bridge the gap in reliable, comparable climate-related financial reporting, ensuring transparency and accountability.

Currently, no international standard exists for public sector climate disclosures, creating challenges for investors seeking consistent and trustworthy information. IPSASB SRS ED 1 builds on the International Sustainability Standards Board (ISSB) global baseline while incorporating guidance tailored to the unique needs of the public sector. By aligning language and principles with ISSB’s framework, the standard will enhance investor confidence and facilitate efficient capital allocation for climate-related initiatives.

A key feature of IPSASB SRS ED 1 is its introduction of public sector-specific disclosure requirements for climate-related policy programs and their outcomes. These provisions will enable stakeholders—including investors, regulators, and citizens—to assess governments’ commitment to climate action, ensuring effective management of resources and service delivery.

As the draft standard undergoes development, IPSASB invites public feedback to refine its framework. The final standard is expected to be released in late 2025, providing a much-needed foundation for credible, consistent, and transparent climate disclosures in the public sector.

Find out more here.

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