In December 2024, the Canadian Sustainability Standards Board (CSSB) published Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information, CSDS 2, Climate-related Disclosures, and their supporting Bases for Conclusions in the CPA Canada Handbook – Sustainability.
The CSDSs align with the international baseline set by the International Sustainability Standards Board (ISSB) and mirror IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-related Disclosures, but with transition relief modifications reflecting the Canadian public interest.
In January 2025, the ISSB proposed amendments to IFRS S2, and released its Exposure Draft, “Amendments to Greenhouse Gas Emissions Disclosures – Proposed amendments to IFRS S2.”
In December 2025, after considering the feedback received from respondents to its Exposure Draft (including the CSSB and other Canadian respondents), the ISSB published its final amendments. The amendments provide additional relief and clarify existing relief from specific greenhouse gas (GHG) emissions disclosure requirements and are effective January 1, 2027, with earlier application permitted.
Continuing its support of the incorporation of IFRS Sustainability Disclosure Standards in Canada to the fullest extent possible, the CSSB proposes, subject to comments following exposure in Canada, to adopt with appropriate Canadian modification, the ISSB’s amendments to IFRS S2 by making corresponding amendments to CSDS 2. The Basis for Conclusions on IFRS S2 included in the Handbook will also be modified for the ISSB’s amendments.