Nairobi, June 14 -- As the mandatory adoption of the IFRS Sustainability Disclosure Standards draws near, some organisations are adopting a pragmatic approach: a climate-first reporting strategy in the first year. It is one of the transition reliefs provided for in IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information).

The relief allows the organisation to report only on climate-related risks and opportunities and omit non-climate sustainability risks and opportunities in the first annual reporting period.

This approach helps to lessen the burden and cost of compliance for organisations as they embrace the new sustainability standards. Adopting a climate-first reporting approach implies that such ...