Amendments to clarify IFRS S2

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(This article was published on 30 January 2025 and updated on 12 December 2025)

Highlights

Targeted amendments to IFRS S2 Climate-related Disclosures will change how some companies measure and disclose their greenhouse gas (GHG) emissions:

Sinéad Slattery

IFRS Technical Director

KPMG International

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These amendments balance the needs of investors and preparers, offering practical clarification on complex areas such as financed emissions without disrupting companies’ existing plans.

Sinead Slattery,

Director

KPMG International Standards Group

What changes have been made?

When do the changes take effect?

Companies that comply with IFRS® Sustainability Disclosure Standards are required to apply the amended IFRS S2 standard to annual reporting periods beginning on or after 1 January 2027. Early application is permitted to enable companies to adapt their systems ahead of the effective date.

If a jurisdiction requires the amended standard, it may set local requirements for how and when companies apply the amendments.

What transition requirements apply?

In the first year of applying the amended standard, companies that have previously reported under IFRS Sustainability Disclosure Standards will need to adjust prior-period comparative information.

Actions for management

Understand the amendments to IFRS S2 and how they affect your company.
If you have already completed your gap assessment, be ready to update it.
Consider whether you need to change your systems, processes and controls.
For further information on the amendments, speak to your KPMG contact and visit kpmg.com/ifrs to keep up to date with the latest news and discussion.