The International Public Sector Accounting Standards Board (IPSASB) has published a proposal for a climate-related disclosure standard to be used by governments around the world. “The rapid progress needed to address climate change requires public sector action,” said IPSASB Chair Ian Carruthers. Supported by the World Bank, SRS ED 1 aims to promote global consistency and comparability, building on the global baseline established by the International Sustainability Standards Board’s (ISSB) reporting standards. To complement the ISSB’s focus on companies and financial institutions, the IPSASB standard proposes principles for public sector entities that have responsibility for climate-related public policy programmes and their outcomes. “The scale of the investment involved and the need for coordinated action across all sectors of the economy mean that only governments are equipped to lead the changes required,” said Carruthers. “Using policy tools, such as taxation, regulation, and subsidies, governments can influence behaviors across entire economies. IPSASB’s proposed standard on climate-related disclosures will be help governments provide consistent, comparable, and verifiable information and will ultimately help them maintain access to capital markets.” IPSASB has urged public sector stakeholders – including regional and national sustainability reporting standard setters – to share their feedback on the proposed standard by 28 February 2025.
