Climate-relatedDisclosuresJune2023IFRSS2IFRS®SustainabilityDisclosureStandardInternationalSustainabilityStandardsBoardIFRSS2Climate-relatedDisclosuresIFRSS2Climate-relatedDisclosurestogetherwithitsaccompanyingdocumentsisissuedbytheInternationalSustainabilityStandardsBoard(ISSB).Disclaimer:Totheextentpermittedbyapplicablelaw,theISSBandtheIFRSFoundation(Foundation)expresslydisclaimallliabilityhowsoeverarisingfromthispublicationoranytranslationthereofwhetherincontract,tortorotherwisetoanypersoninrespectofanyclaimsorlossesofanynatureincludingdirect,indirect,incidentalorconsequentialloss,punitivedamages,penaltiesorcosts.Informationcontainedinthispublicationdoesnotconstituteadviceandshouldnotbesubstitutedfortheservicesofanappropriatelyqualifiedprofessional.©IFRSFoundation2023Reproductionanduserightsarestrictlylimitedtopersonalnon-commercialuse,suchascorporatedisclosure.Anyotheruse,suchas–butnotlimitedto–reportingsoftware,investmentanalysis,dataservicesandproductdevelopmentisnotpermittedwithoutwrittenconsent.PleasecontacttheFoundationforfurtherdetailsatsustainability_licensing@ifrs.org.Allrightsreserved.TheFoundationhastrademarksregisteredaroundtheworld(Marks)including‘IAS®’,‘IASB®’,theIASB®logo,‘IFRIC®’,‘IFRS®’,theIFRS®logo,‘IFRSforSMEs®’,theIFRSforSMEs®logo,‘InternationalAccountingStandards®’,‘InternationalFinancialReportingStandards®’,the‘HexagonDevice’,‘NIIF®’,‘SIC®’andSASB®.FurtherdetailsoftheFoundation’sMarksareavailablefromtheFoundationonrequest.TheFoundationisanot-for-profitcorporationundertheGeneralCorporationLawoftheStateofDelaware,USAandoperatesinEnglandandWalesasanoverseascompany(Companynumber:FC023235)withitsprincipalofficeintheColumbusBuilding,7WestferryCircus,CanaryWharf,London,E144HD.CONTENTSfromparagraphIFRSSUSTAINABILITYDISCLOSURESTANDARDS2CLIMATE-RELATEDDISCLOSURESOBJECTIVE1SCOPE3CORECONTENT5Governance5Strategy8Riskmanagement24Metricsandtargets27APPENDICESADefinedtermsBApplicationguidanceCEffectivedateandtransitionAPPROVALBYTHEISSBOFIFRSS2ISSUEDINJUNE2023FORTHEACCOMPANYINGGUIDANCELISTEDBELOW,SEEPARTBOFTHISEDITIONILLUSTRATIVEGUIDANCEILLUSTRATIVEEXAMPLESINDUSTRY-BASEDGUIDANCEONIMPLEMENTINGIFRSS2FORTHEBASISFORCONCLUSIONS,SEEPARTCOFTHISEDITIONBASISFORCONCLUSIONSIFRSSUSTAINABILITYDISCLOSURESTANDARDS©IFRSFoundation3IFRSS2Climate-relatedDisclosuresissetoutinparagraphs1–37andAppendicesA–C.Allparagraphshaveequalauthority.Paragraphsinboldtypestatethemainprinciples.TermsdefinedinAppendixAareinitalicsthefirsttimetheyappearintheStandard.DefinitionsofothertermsaregiveninotherIFRSSustainabilityDisclosureStandards.TheStandardshouldbereadinthecontextofitsobjective,theBasisforConclusionsandIFRSS1GeneralRequirementsforDisclosureofSustainability-relatedFinancialInformation.IFRSS2CLIMATE-RELATEDDISCLOSURES—JUNE20234©IFRSFoundationIFRSS2Climate-relatedDisclosuresObjectiveTheobjectiveofIFRSS2Climate-relatedDisclosuresistorequireanentitytodiscloseinformationaboutitsclimate-relatedrisksandopportunitiesthatisusefultoprimaryusersofgeneralpurposefinancialreportsinmakingdecisionsrelatingtoprovidingresourcestotheentity.1ThisStandardrequiresanentitytodiscloseinformationaboutclimate-relatedrisksandopportunitiesthatcouldreasonablybeexpectedtoaffecttheentity’scashflows,itsaccesstofinanceorcostofcapitalovertheshort,mediumorlongterm.Forthepurposesoft...