ISSB and IFRS S2 Climate Disclosure Reporting Tool
Formist prepares IFRS S2 Climate-related Disclosures, structured around the four pillars the ISSB standard requires: Governance, Strategy, Risk Management, and Metrics and Targets, with Scope 1, 2 and 3 emissions and a transition plan.
How the four-pillar disclosure gets built
Steps 1 to 4 behind the Word report Formist hands you.
- Governance and strategy inputs
Formist asks specifically for what each pillar needs, who on the board discusses climate risk and how often, whether a transition plan or scenario analysis already exists, rather than writing generic boilerplate when something is missing.
- Scenario analysis
At least two scenarios are built, one consistent with 1.5 degrees C and one higher-warming case, each with assumptions, time horizons and transition or physical risks. Illustrative assumptions are always labelled as such until you confirm or replace them.
- Scope 1, 2 and 3 calculation
Scope 1 direct emissions and Scope 2 purchased energy emissions, reported both location based and market based, plus Scope 3 across the GHG Protocol’s 15 categories, all in tCO2e using IPCC AR6 GWP-100 values.
- Four-pillar report, with supporting files
The disclosure itself is a Word document structured as Governance, Strategy, Risk Management, and Metrics and Targets. A supporting JSON file follows the ISSB XBRL taxonomy and an Excel workbook carries the metrics tables.
What it produces
A report structured as Governance, Strategy, Risk Management and Metrics & Targets, the shape IFRS S2 requires, with Scope 1, 2 and 3 data and a transition plan.
Where IFRS S2 has been adopted
By 2026, around 20 jurisdictions have adopted or are in advanced stages of adopting ISSB standards.
UK Sustainability Reporting Standards (UK SRS).
Sustainability Standards Board of Japan (SSBJ).
HKEX Part D of Appendix C2, aligned with IFRS S2.
AASB S2.
Ministry of Finance Climate Disclosure Standard, finalised December 2025, effective January 2026 for large state owned enterprises, with Scope 3 on a comply-or-explain basis for the first two years.
A worked example: Scope 2 emissions
Illustrative figures, not a real company’s filing.
- Input
- 120,000 kWh purchased electricity for the reporting year
- Location based
- kWh x the local grid average emission factor
- Market based
- kWh x the contractual instrument’s emission factor, or the grid factor if none exists
- Reported as
- Both figures side by side in tCO2e; IFRS S2 paragraph 29(a)(iv) requires both, never only one
Real figures come from your own activity data. Formist calculates and cites them, you review before anything is finalised.
What stays yours
Carbon price and similar scenario assumptions start as clearly labelled illustrative examples. Confirming them with your own numbers, or naming the external scenario you want used instead, is a decision only you can make.
Where a jurisdiction, HKEX, China MoF and others, requires assurance over the disclosure or a specific filing channel, that review and submission is yours or your auditor’s. Formist prepares the report; it does not file it on your behalf.
When a pillar’s input is missing
A first-time reporter often has no record of board-level climate discussion or no scenario analysis yet run. Formist asks for that specific input, naming the disclosure it maps to, rather than writing generic text or silently leaving the pillar incomplete.
If you already have a TCFD report, its governance, strategy and risk management content is reused as a starting point rather than rebuilt from zero. IFRS S2 only adds what TCFD did not already ask for.
Frequently asked questions
What is IFRS S2?
The ISSB standard requiring disclosure of material climate related risks and opportunities, structured around the four TCFD pillars, effective for annual periods beginning on or after 1 January 2024.
What's the difference between IFRS S1 and IFRS S2?
IFRS S1 sets the general requirements for sustainability-related financial disclosures. IFRS S2 is the first topical standard, covering climate specifically.
Do I need to do scenario analysis?
Yes. IFRS S2 requires climate-related scenario analysis to assess climate resilience, covering a range of scenarios including at least one consistent with limiting warming to 1.5 degrees C.
Can I reuse my CDP or CSRD reporting for IFRS S2?
Yes. The CDP Corporate Questionnaire is explicitly aligned with IFRS S2, and CSRD ESRS E1 overlaps heavily. Formist cross maps content across these frameworks so one data collection exercise can populate several of them.
Start your IFRS S2 disclosure
Tell us which jurisdiction you report under, and we will walk you through the four pillars with your own documents.