International Public Sector Accounting Standards Board (IPSASB) releases draft standard for climate-related disclosures in the public sector

The International Public Sector Accounting Standards Board (IPSASB) has taken a significant step forward with the release of its draft Climate-related Disclosures Standard, marking the first sustainability reporting standard specifically for the public sector (IPSASB SRS).

Promoting global consistency 

To address the unique reporting needs of the public sector, the IPSASB, with support from The World Bank, is developing the world’s first climate-related disclosure standard for governments globally. The draft of this inaugural Sustainability Reporting Standard (IPSASB SRS™) is now open for public comment. 

IPSASB SRS ED 1, Climate-related Disclosures aims to promote global consistency and comparability by providing public sector-specific guidance based on the International Sustainability Standards Board (ISSB) global baseline. It proposes principles tailored for public sector entities responsible for climate-related public policy programs and their outcomes. 

The rapid progress needed to address climate change requires public sector action. 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. Using policy tools such as taxation, regulation, and subsidies, governments can influence behaviours across entire economies.
Ian CarruthersIPSASB Chair

Call for public sector feedback 

The IPSASB is calling on public sector stakeholders, including preparers of public sector climate-related and other sustainability reports, regional and national sustainability reporting standard setters, professional accountants, sustainability assurance providers, and interested members of the public, including Indigenous peoples, to share their comments on the proposed standard and other matters raised in IPSASB SRS ED 1 by 28 February 2025.  

The feedback received will shape the final standard, helping governments and other public sectors worldwide to be accountable for their actions in addressing climate change. 

How to provide feedback 

If you have any comments, contact Aletta Boshoff, Partner and National Leader, IFRS & Corporate Reporting and National Leader, ESG & Sustainability. 

How BDO can help 

Whether you’re just starting out or well on your way, our national team of experts is here to support your sustainability efforts. We can help with everything from evaluating your current state to calculating your carbon footprint and developing your decarbonisation strategy. Contact us today.