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IPSASB: SRS 1: Climate-related Disclosures - Rules for Governments
- 20 February 2026
- Sustainability Reporting
- South African Accounting Academy
Summary:
The International Public Sector Accounting Standards Board (IPSASB) has released IPSASB Sustainability Reporting Standard (SRS) 1, Climate-related Disclosures, its first-ever sustainability reporting standard for the public sector, closing a long-standing gap in how governments disclose exposure to climate risks and opportunities.
Article:
Governments face risks related to climate change and extreme weather events. However, there was a lack of clear public sector guidance on how to disclose them and inform accountability and decision-making. This sustainability reporting standard sets Global Climate Disclosure Rules for Governments - helping them and public sector entities report climate-related risks and opportunities.
The objective of this standard is to require public sector entities to disclose useful information about climate-related risks and opportunities to primary users of general purpose financial reports for accountability and decision-making purposes.
SRS 1 also strengthens transparency, accountability, and decision-making for governments and public sector entities
Standard is effective from 1 January 2028. Earlier adoption is permitted.
Access the 6-page At a Glance-document at https://ifacweb.blob.core.windows.net/publicfiles/2026-01/IPSASB-SRS-1-AAG.pdf
This is the final pronouncement to the Draft that was issued in October 2024. Refer to our previous Alert dated 7 November 2024
Click here to download the new 81-page Standard:
Relevance to Auditors, Independent Reviewers & Accountants:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
- This standard focuses on the disclosure requirements for public sector entities to report on climate related issues.
Relevance to Your clients:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
- This standard focuses on the disclosure requirements for public sector entities to report on climate related issues.