The Taskforce on Inequality and Social-related Financial Disclosures (TISFD) has released the first draft version of its framework, marking an important milestone in efforts to improve how businesses and financial institutions understand and report impacts, dependencies, risks and opportunities related to people.
Legal Affairs Committee MEPs and the European Council have agreed to reduce sustainability reporting and due diligence requirements for companies, a proposal that forms part of the so-called Omnibus I package. According to the informal agreement, social and environmental reporting will only be required for EU companies employing on average over 1,000 employees and with a net annual turnover of over €450m. The net turnover threshold has also been increased for non-EU companies to €450m generated in the EU for sustainability reporting.
The International Sustainability Standards Board (ISSB) has issued targeted amendments to greenhouse gas (GHG) emissions disclosure requirements in IFRS S2 Climate-related Disclosures in response to specific application challenges that were identified as companies started to apply the Standard.
The Financial Stability Board (FSB) has delivered a report to the July 2025 meeting of G20 Finance Ministers and Central Bank Governors. It provides a factual update on the work undertaken by the FSB, standard-setting bodies and other international organisations in the four areas identified by the 2021 ‘Roadmap for Addressing Climate-related Financial Risks’. The Roadmap had been welcomed by the G20 in 2021.
The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have signed a Memorandum of Understanding committing to build upon the TNFD recommendations in the ongoing work of the International Sustainability Standards Board (ISSB), to enable nature-related financial disclosures for use by capital markets. The ISSB will consider the relevance of the TNFD recommendations in meeting the needs of global capital markets.