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Industry insight

The International Sustainability Standards Board (ISSB) closed out 2025 with amendments to International Financial Reporting Standard (IFRS) S2: Climate-related Disclosures, which specifically impact Greenhouse Gas (GHG) emissions reporting.

These optional amendments are effective for reporting periods beginning on or after January 1, 2027 — although early adoption is permitted — and are intended to ease reporting.

• In lieu of the GHG Protocol or Global Industry Classification Standard (GICS), you can use local measurement methods or classification systems that better align with your business.
• Financial institutions can limit Scope 3 (Category 15) emissions to just financed emissions — related to loans, investments, or assets under management (AUM) — and exclude complexities like derivatives.
• These changes also apply to the Sustainability Accounting Standards Board (SASB) Standards for Commercial Banking, Insurance, and Asset Management, for alignment in financial industries.

To prepare for these amendments, review your current GHG emissions data collection, and determine whether opting into these reliefs would reduce your reporting burden without compromising investor strategy and local regulatory compliance.

These amendments apply only to the global IFRS S2 from ISSB. Regulators will assess whether to adopt these changes for localized standards such as the Australian Sustainability Reporting Standards (ASRS).

Stay tuned to What's new in Sustainability Reporting for details of when these amendments appear in Sustainability Explorer and the new ISSB Intelligence!

Looking for more insight? Workiva has Industry Principals dedicated to gathering and sharing Sustainability & Carbon knowledge and expertise! For more insight, follow them — Alyssa Zucker for Carbon, Esther Toth for EMEA & APAC, and Mark Mellen for North America & APAC — on LinkedIn.

What's new

Speaking of easing reporting with for ISSB, Workiva AI now includes a new ISSB Intelligence knowledge base. You can use this knowledge base to help summarize and clarify disclosure requirements of the IFRS Sustainability Disclosure Standards, similar to ESRS Intelligence discussed in the September edition.

The ISSB Intelligence knowledge base is only available in Sustainability Reporting Advanced workspaces with Workiva AI enabled. To enable Workiva AI for your organization, an Org Admin must sign and approve the Workiva AI Terms of Use. Org Admins can also manage the enablement of Workiva AI as needed, such as to restrict it to only specific workspaces and members, or to disable it altogether.

If your Sustainability Explorer includes the IFRS Sustainability Disclosure Standards, you can also view the source content used by Workiva AI for its responses. To learn more, view Use Workiva AI with IFRS Sustainability Disclosure Standards.

Want to stay current? Follow What's new in Sustainability Reporting!

On the calendar

Learn from Workiva's Sustainability experts with upcoming Beverage Breaks in the Workiva Community!

• January 20, join Workiva Climate Expert Kai Park for Carbon — Getting ready for the next reporting cycle. During this Beverage Break, you'll learn the core steps and features that facilitate data integrity, mitigate risk, inform decisions, and instill confidence as you prepare for the next reporting cycle in Carbon. 
• February 12 or 19 — depending on your region — join a Beverage Break focused on the European Sustainability Reporting Standards (ESRS) from the European Financial Reporting Advisory Group (EFRAG).  Stay tuned to the Beverage Breaks topic to register!

Share your thoughts

In addition to Beverage Breaks, the Workiva Community provides ample opportunity to engage with and learn from subject-matter experts, advisory partners, and other sustainability reporters. Join the conversation in these discussion threads:

• Community Connect: Sustainability, to learn from industry professionals and peers as you collaborate and share insights, challenges, and solutions.
• Sustainability Management, to discuss best practices and experiences with sustainability reporting, in general and within the Workiva Platform
• What's new in Sustainability, to learn the latest enhancements of Sustainability Reporting features like Sustainability Program and Sustainability Explorer
• Sustainability Feedback, to share and support ideas on how to improve Sustainability Management features

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