A guide to IFRS’ S1 & S2 sustainability financial disclosure implementation (3), By Innocent Okwuosa

In the implementation of IFRS S1 and S2, one of the documents required by Financial Reporting Council (FRC) of Nigeria during the Phase Two of the implementation (see the Revised Roadmap for Implementation of IFRS S1 & S2 in Nigeria), is the identification and materiality assessment of Sustainability Related Risks and Opportunities (SRRO). As S2 is the only standard that deals with a sustainability topic (climate related risks and opportunities), it means that International Sustainability Standard (ISSB) has no standards dealing with other sustainability topics apart from climate risks.