SARAS placed a snapshot of exposure draft of corporate sustainability reporting standard on its web page

European Commission developed Corporate Sustainability Reporting Directive, which will replace the existing Non-Financial Reporting Directive. According to the new directive, it will be mandatory for EU member states to prepare corporate sustainability reports under the relevant standard. Thus, ISSB proposes issuing two international standards for corporate sustainability reporting. These standards will enable investors to get more complete, reliable and comparative information needed for the assessment of enterprise value, and entities will get a more comprehensive picture for business model evaluation and development.  

At the initial stage, ISSB developed two draft standards (IFRS S1, IFRS S2), and for further consideration, it published an informative document - "Exposure Draft—Snapshot", which covers the following issues: 

• IFRS S1 - General Requirements for Disclosure of Sustainability-related Financial Information;
• IFRS S2 - Climate-related Disclosures.

SARAS translated the document into the Georgian language, and placed it on its web page for entities and other interested parties. The document includes a snapshot of draft standards and provides information to entities regarding the issues to be considered when preparing the report. 

SARAS actively monitors the ongoing processes; news and changes related to the issue will be placed on its web page.