Sustainability Disclosure Tracker

In October 2023, Brazil announced that the new International Sustainability Standards Board’s (ISSB) IFRS S1 and S2 Disclosures will be incorporated into the Brazilian regulatory framework. Mandates begin on 1 January 2026. 

• Short Name: CVM
• Region: Brazil
• Status: Mandatory (in process)
• Organizations Affected: Publicly traded companies in Brazil
• Source Link

This is a mandatory disclosure framework that requires companies over a revenue threshold that “do business in California” to report their Scope 1, 2, and 3 greenhouse gas emissions. See our Blog Post for more details.

• Short Name: CCDAA
• Region: United States
• Status: Mandatory
• Organizations Affected: Any company over $1B revenue doing business in California. 
• Source Link

This is a mandatory disclosure framework that requires companies over a revenue threshold that “do business in California” to report climate-related financial risk. See our Blog Post for more details.

• Short Name: CRFRA
• Region: United States
• Status: Mandatory
• Organizations Affected: Any company over $500M revenue doing business in California.
• Source Link

These mandatory standards were released in February 2024. Mandatory disclosures under these standards include a wide range of ESG material, including Scope 3 emissions. The Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) published mandatory reporting requirements, while the Beijing Stock Exchange (BSE) is starting with voluntary reporting requirements. Reporting will begin in 2026 on 2025 data.

• Short Name: SSE, SZSE, BSE
• Region: China
• Status: Mandatory
• Organizations Affected: Publicly traded companies listed on Chinese stock exchanges
• Source Link

This is a mandatory disclosure framework developed by the European Union. Under EU CBAM, organizations must report direct and indirect emissions from the products they import into the EU. There is a “transitional period” until December 31, 2025, where organizations are able to use estimates to calculate product emissions. However, after this transitional period, organizations are required to report the actual emissions from products purchased because starting January 1, 2026, they will be required to purchase credits to offset the carbon balance associated with their imported products. 

• Short Name: EU CBAM
• Region: European Union
• Status: Mandatory
• Organizations Affected: EU companies that import any of the following materials from outside of the EU:
  • Cement
  • Electricity
  • Fertilizer
  • Iron and Steel
  • Aluminium
  • Hydrogen
• Source Link

This is a mandatory disclosure framework developed by the European Union, aimed at enhancing corporate transparency as well as sustainability reporting within the European Union. Published under the European Sustainability Reporting Standards (ESRS), CSRD includes a wide range of environmental, social, and governance disclosures for EU-based companies.

• Short Name: CSRD
• Region: European Union
• Status: Mandatory
• Organizations Affected:
  • Companies already subject to NFRD
    • Publicly listed
    • Employing more than 500 people
    • Balance sheet over 25 million euro or net turnover more than 50 million euro
  • Large EU Companies
    • At least 2 of these conditions are met:
      • Balance sheet over 25 million euro
      • Net turnover above 50 million euro
      • Employee count exceeding 250
  • Listed SMEs
    • At least 2 of these conditions are met:
      • More than 50 employees
      • Balance sheet over 5 million euro
      • Net turnover above 10 million euro
  • Certain non-EU companies operating within the EU
    • A company outside of the EU with a net turnover over 150 million euro in the EU for the last 2 financial years, and at least 2 of the following: 
      • Has at least one subsidiary in the EU considered a “large company”
      • Has at least one subsidiary listed in an EU-regulated market
      • Has a branch in the EU with a net turnover of 40 million euro + in the previous year
• Source Links
  • CSRD Official Legal Text
  • ESRS Implementation Guidance

This is a mandatory climate disclosure framework introduced by the Hong Kong Stock Exchange (HKEX), requiring listed companies to report on greenhouse gas (GHG) emissions and other climate-related information. The framework aligns with international standards such as the International Sustainability Standards Board (ISSB) and the Task Force on Climate-related Financial Disclosures (TCFD).​

• Short Name: HKEX Climate Disclosure Mandate
• Region: Hong Kong
• Status: Mandatory
• Organizations Affected: All companies listed on the Hong Kong Stock Exchange
• Source Link

Scope of Disclosure: Scope 1 and Scope 2 GHG emissions: Mandatory for all listed companies for financial years commencing on or after January 1, 2025.

Scope 3 GHG emissions:

For LargeCap issuers (constituents of the Hang Seng Composite LargeCap Index):

• “Comply or explain” for financial years commencing on or after January 1, 2025.
• Mandatory disclosure for financial years commencing on or after January 1, 2026.

For other Main Board issuers: “Comply or explain” for financial years commencing on or after January 1, 2025.

For GEM issuers: Voluntary disclosure for financial years commencing on or after January 1, 2025.

Implementation Timeline:

January 1, 2025: All listed companies must disclose Scope 1 and Scope 2 GHG emissions.

January 1, 2026: LargeCap issuers must disclose Scope 3 GHG emissions on a mandatory basis.

​This is a mandatory sustainability reporting framework established by Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan, or OJK) under Regulation No. 51/POJK.03/2017. It requires financial institutions, publicly listed companies, and state-owned enterprises to prepare and submit annual Sustainability Reports, either as part of their annual reports or as standalone documents. The regulation aligns with international standards such as the Global Reporting Initiative (GRI) and incorporates elements of the Task Force on Climate-related Financial Disclosures (TCFD). ​

• Short Name: OJK POJK 51/2017
• Region: Indonesia
• Status: Mandatory (phased implementation)
• Organizations Affected: Financial service institutions (FSIs), publicly listed companies, state-owned enterprises, and issuers of corporate bonds
• Source Link

This is a mandatory disclosure framework for public companies listed in Japan. Japan’s Financial Services Agency (FSA) developed this framework based on guidance in the Task Force on Climate Related Financial Disclosures.

• Short Name: FSA
• Region: Japan
• Status: Mandatory
• Organizations Affected: Publicly traded companies in Japan.
• Source Link 

This is a mandatory disclosure framework that requires companies over a revenue threshold that “do business in New York” to report their Scope 1, 2, and 3 greenhouse gas emissions. This bill was introduced in January 2025, and has not yet been approved as law.

• Short Name: CCDAA
• Region: United States
• Status: Mandatory
• Organizations Affected: Any company over $1B revenue doing business in New York. This is defined as: a business that is a partnership, corporation, limited liability company, or other entity formed under the laws of New York State, any other U.S. state, the District of Columbia, or under an act of Congress, and conducts business within New York State.
• Source Link

This is a mandatory disclosure framework developed for companies on the Singapore stock exchange (SGX). The SGX published a list of Core ESG Metrics to drive disclosures. This reporting framework is based on guidance in the Task Force on Climate Related Financial Disclosures and Global Reporting Initiative.

• Short Name: SGX
• Region: Singapore
• Status: Mandatory
• Organizations Affected: Publicly traded companies on the Singapore Exchange.
• Source Link

​This is a mandatory ESG disclosure framework introduced by South Korea’s Financial Services Commission (FSC) and the Korea Exchange (KRX), requiring KOSPI-listed companies to report on environmental, social, and governance (ESG) performance. The framework is being implemented in phases, with full compliance expected by 2030. The disclosure standards align with international frameworks such as the International Sustainability Standards Board (ISSB) and the Task Force on Climate-related Financial Disclosures (TCFD).​

• Short Name: SGX
• Region: South Korea
• Status: Mandatory (phased implementation)
• Organizations Affected: All companies listed on the Korea Composite Stock Price Index (KOSPI)
• Source Link

Implementation Timeline:

2025: Companies with assets exceeding KRW 2 trillion (~USD 1.5 billion) begin mandatory ESG reporting.

2027: Companies with assets over KRW 1 trillion (~USD 750 million) are included.

2029: Companies with assets over KRW 500 billion (~USD 375 million) are added.

2030: All KOSPI-listed companies are required to comply.​

This is a mandatory climate disclosure framework developed by Taiwan’s Financial Supervisory Commission (FSC). It requires listed companies to report on greenhouse gas (GHG) emissions and other sustainability metrics, aligning with international standards such as the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB) guidelines.

Scope of Disclosure: Companies must report on Scope 1 and Scope 2 GHG emissions, with Scope 3 disclosures encouraged but not yet mandatory. ​

Implementation Timeline:

2026: Companies with paid-in capital over NT$10 billion must prepare reports based on IFRS Sustainability Disclosure Standards for FY2026, to be disclosed in 2027.

2027: Companies with paid-in capital between NT$5 billion and NT$10 billion must prepare reports for FY2027, to be disclosed in 2028.

2028: All other listed companies must prepare reports for FY2028, to be disclosed in 2029. ​

• Short Name: Taiwan FSC Climate Disclosure Mandate
• Region: Taiwan
• Status: Mandatory (phased implementation)
• Organizations Affected: All companies listed on the Taiwan Stock Exchange (TWSE) and Taipei Exchange (TPEx)
• Source Link

This is a mandatory disclosure framework developed by the United Kingdom government. Under UK CBAM, organizations must report direct and indirect emissions from the products they import into the UK. This mandate is under development, please consult the Source Link for more information.

• Short Name: UK CBAM
• Region: United Kingdom
• Status: Mandatory (in progress)
• Organizations Affected: UK companies that import any of the following materials from outside of the UK:
  • Aluminium
  • Cement
  • Ceramics
  • Fertiliser
  • Glass
  • Hydrogen
  • Iron
  • Steel
• Source Link

This is a mandatory framework that proposes disclosure of GHG emissions and climate related risks for public companies in the US. This framework uses aspects of the GHG Protocol in addition to the TCFD framework. See our Blog Post for more details.

• Short Name: SEC
• Region: United States
• Status: Mandatory
• Organizations Affected: Publicly traded companies in the United States.
• Source Link

​This is a mandatory ESG disclosure framework implemented by Vietnam’s State Securities Commission (SSC), requiring listed companies and certain public enterprises to integrate environmental, social, and governance (ESG) information into their annual reports. Published in 2016, the framework aligns with international standards, such as the Global Reporting Initiative (GRI) G4 guidelines. Disclosures are to be included within the company’s annual report, ensuring that ESG considerations are integrated into overall corporate reporting.

• Short Name: Vietnam ESG Disclosure Mandate
• Region: Vietnam
• Status: Mandatory
• Organizations Affected: Publicly listed companies, large public enterprises, and companies with listed corporate bonds
• Source Link

This is a voluntary disclosure framework developed by the Canadian Sustainability Standards Board (CSSB). It proposes sustainability disclosures in line with the new IFRS S1 and S2 Standards. CSDS 1 and CSDS 2 will pave the way as the framework for mandatory sustainability disclosure in Canada.

• Short Name: CSDS 1 & CSDS 2
• Region: Canada
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily disclose their environmental impacts and climate risk.
• Source Link

This voluntary framework focuses on measuring as well as reporting on greenhouse gas (GHG) emissions, energy use, and climate change strategies. This framework expects companies to report on their Emissions, as well as their targets and progress in reducing emissions. CDP’s Disclosure Platform Guide provides the details for how to complete environmental disclosures with CDP.

• Short Name: CDP
• Region: Global
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily disclose their emissions.
• Source Link

The International Sustainability Standards Board (ISSB) combines standards from CDP, CDSB, SASB, IIRC, GRI, and TCFD, with the goal of consolidating key standards into one global framework for sustainability reporting. IFRS S1 requires an entity to disclose information about all sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s cash flows, its access to finance or cost of capital over the short, medium or long term (collectively referred to as ‘sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s prospects’).

Under this voluntary framework, companies report on:

• The governance processes, controls and procedures the entity uses to monitor, manage and oversee sustainability-related risks and opportunities
• The entity’s strategy for managing sustainability-related risks and opportunities
• The processes the entity uses to identify, assess, prioritise as well as  monitor sustainability-related risks and opportunities
• The entity’s performance in relation to sustainability-related risks and opportunities, including progress towards any targets the entity has set or is required to meet by law or regulation.

IFRS S1 is effective as of the annual reporting periods beginning on or after 1 January 2024. Earlier applictaion is permitted as long as IRFS S2 Climate-related Disclosures is also applied.

• Short Name: IFRS S1
• Region: Global
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily disclose their environmental impacts and climate risk.
• Source Link

The International Sustainability Standards Board (ISSB) combines standards from CDP, CDSB, SASB, IIRC, GRI, and TCFD, with the goal of consolidating key standards into one global framework for sustainability reporting. IFRS S2 requires an entity to disclose information about climate-related risks and opportunities that could reasonably be expected to affect the entity’s cash flows, as well as its access to finance or cost of capital over the short, medium or long term (collectively referred to as ‘climate-related risks and opportunities that could reasonably be expected to affect the entity’s prospects’).

Under this voluntary framework, companies report on

• The governance processes, controls and procedures the entity uses to monitor, manage and oversee climate-related risks and opportunities;
• The entity’s strategy for managing climate-related risks and opportunities;
• The processes the entity uses to identify, assess, prioritise and monitor climate-related risks and opportunities, including whether and how those processes are integrated into and inform the entity’s overall risk management process; and
• The entity’s performance in relation to its climate-related risks and opportunities, including progress towards any climate-related targets it has set, as well as any targets it is required to meet by law or regulation.

• Short Name: IFRS S2
• Region: Global
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily disclose their environmental impacts and climate risk.
• Source Link

This voluntary framework focuses on measuring and reporting on greenhouse gas (GHG) emissions, energy use, and climate change strategies. This framework expects to report on their Emissions, as well as their targets and progress in reducing emissions. GRI Standards 301-308 offer guidance on making environmental disclosures in line with GRI. Specifically, GRI-305 describes emissions disclosures.

• Short Name: GRI
• Region: Global
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily disclose their emissions.
• Source Link

This voluntary framework focuses on the financial impact of climate change on companies. This framework expects companies to report on their exposure to physical and transition risks related to climate change, as well as their strategies to manage those risks. Many mandatory frameworks around the world have adopted the guidance from TCFD in their standards. NOTE: as of October 2023, the IFRS Foundation has taken over the monitoring of the progress of companies’ climate-related disclosures related to TCFD.

• Short Name: TCFD
• Region: Global
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily disclose climate risk.
• Source Link

This voluntary framework allows companies to not only set emission reduction target, but also to benchmark their targets against other companies. SBTi is a certification body for these emission reduction targets, with strict requirements for data tracking as well as reporting. For details, see SBTi’s step by step guide for how to set a science-based target.

• Short Name: SBTi
• Region: Global
• Status: Voluntary
• Organizations Affected: Organizations of all sizes who wish to voluntarily emission reduction targets.
• Source Link