Interactive Map

Global Transition Plan Requirements

Interactive map

About this map

This interactive map tracks global transition plan requirements, focusing on two main pathways through which jurisdictions are acting:

Adoption of International Sustainability Standards Board (ISSB) standards (IFRS S1 and S2) – Under IFRS S2, mandatory requirements relate to the disclosure of transition plan information, where companies have one.
Jurisdiction-specific guidance and/or requirements on transition planning

Key

Mandatory transition plan rules, regulations or guidance in place

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

ISSB or ISSB-aligned standards in progress

Key trends emerging

Disclosure-only rules: Mandatory requirements under ISSB rules refer to the mandatory disclosure of transition plan information where the company has a transition plan. It does not refer to the mandatory development or implementation of a transition plan. However some jurisdictions are introducing guidance, policies or consultations that go beyond ISSB disclosure and consider other forms of mandatory rules.
Mandatory adoption: A growing group of jurisdictions, including Australia, Brazil, Indonesia, Mexico, New Zealand, Pakistan, Sri Lanka, Tanzania, and Zambia, already require transition plan disclosures.
Upcoming requirements: Several jurisdictions are advancing towards mandatory disclosure rules, such as Bangladesh, China, Ghana, India, South Korea, and Thailand, between 2025-2027.
Shift from TCFD to ISSB: While some requirements still reference TCFD, most are converging around ISSB standards as the global baseline.
Phased implementation: Many jurisdictions prioritise financial institutions and large listed companies first, with smaller companies phased in later. Voluntary adoption is often encouraged before requirements become mandatory.

Africa
Asia
Europe
Americas
Oceania

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

The Accounting and Auditing Board of Ethiopia (AABE) published a public consultation on a draft IFRS Sustainability Disclosure Standards Adoption Roadmap in February 2026, with a comment period closing on 25 March 2026. The roadmap was developed following the IFRS Foundation’s ‘climate-first’ approach.

The roadmap proposes a four-stage phased adoption strategy:

Stage 1: Narrative climate disclosures based on IFRS S2, with additional reliefs.
Stage 2: An intermediate phase with reduced reliefs and the introduction of limited quantitative reporting.
Stage 3: Implementation of both IFRS S1 and IFRS S2 with the transitional reliefs provided by the ISSB.
Stage 4: Full compliance with ISSB standards, with no reliefs.

Under the proposal, large companies would start reporting from financial years 2026 or 2027. The roadmap also proposes a gradual move from limited assurance to reasonable assurance, and highlights the importance of training, institutional coordination and international collaboration to support implementation.

If adopted, this would include, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”AABE have not yet issued a response to the consulation.

(Updated June 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

The Institute of Chartered Accountants, Ghana, issued a roadmap for the adoption of IFRS S1 and S2 in 2024, with the first phase of mandatory implementation for annual reporting periods beginning on or after 1 January 2027 for Significant Public Interest Entities – including listed entities, non-listed financial entities, public limited companies and others – and entities in certain sectors, including hard-to-abate sectors. Under IFRS S2, entities are required to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies”.

To build capacity, the Ghana Stock Exchange has run workshops on IFRS S1 and S2, to aid market participants in understanding how to align reporting with the standards.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

The Institute of Certified Public Accountants of Kenya issued a Roadmap for Adoption of IFRS Sustainability Disclosure Standards in Kenya for the adoption of IFRS S1 and S2 in November 2024, following an announcement for their intended adoption in 2023.

These standards include, under IFRS S2, the requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

The requirement applies to all entities considered public interest entities (including all listed entities), as well as to some non-listed entities via a phased approach.

Under Phase 1, all organisations can voluntarily adopt IFRS S1 and S2 for accounting periods beginning on or after 1 January 2024. Phase 2 of mandatory adoption then begins for Public Interest Entities (PIEs) from 1 January 2027, large non-PIEs from 1 January 2028, and SME non-PIEs from 1 January 2029. Phase 3, for which the timeline is yet to be determined, will cover public sector entities.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

Nigeria has not yet mandated transition plan requirements on private companies. However, the Financial Reporting Council of Nigeria (FRCN) has issued a roadmap for the adoption of IFRS S1 and S2 in 2024 relating to listed and certain non-listed entities. In late 2025 FRCN published a consultation on amendments to the Roadmap Report for the adoption of IFRS Sustainability Disclosure Standards in Nigeria, closing in January 2026, addressing the status of adoption, preparedness, and readiness assesments for implimentation. FRCN have not yet published a response.

Nigeria fully adopted ISSB’s IFRS S1 and S2 with a 4-phased implementation plan – Early Adoption, Voluntary Adoption, Mandatory Adoption and Adoption Period – for Government and Public Sector Entities. IFRS S2 requires disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies.

Reporting against the standards is voluntary from FY2024-2026, changing to mandatory for public interest entities from 2028 and for SMEs by 2030.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in place

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

Rwanda, through the Institute of Certified Public Accountants of Rwanda (ICPAR), launched its IFRS Sustainability Disclosure Standards Adoption Roadmap in May 2025 following a public consultation on a draft, confirming phased implementation of IFRS S1 and S2 beginning 1 January 2025.

The rollout of the roadmap will begin with listed entities and Tier I financial institutions, and extend to public utilities, microfinance institutions, and entities using IFRS for SMEs. Rwanda’s roadmap includes transition reliefs (e.g., on timing, quantitative disclosures, and Scope 3 emissions) and requires assurance once entities exit transition phases. Regulators, such as the National Bank of Rwanda and Rwanda Stock Exchange, have aligned their ESG and sustainability reporting guidelines with the IFRS S1 and S2 Standards.

(Updated: October 2025)

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

Climate-related and sustainability disclosures are voluntary in South Africa, with growing alignment to international frameworks.

The Companies and Intellectual Property Commission (CIPC) is incorporating the ISSB’s IFRS S1 and S2 standards into its XBRL taxonomy. The XBRL Taxonomy, rolled out on 1 October 2024, has been updated to allow voluntary early adopters of ISSB IFRS S1 and IFRS S2 to tag their sustainability-related financial disclosures.

The CIPC, in collaboration with the Department of Trade, Industry and Competition (DTIC), is conducting a regulatory impact assessment to determine the feasibility and implications of making sustainability reporting mandatory in South Africa.

In 2024 the South African Reserve Bank Prudential Authority issued Guidance on climate-related disclosures for banks and insurers, built on ISSB standards. The Guidance is a voluntary set of minimum expectations for banks and insurers. It matches language in IFRS S2, stating banks and insurers should disclose “Any climate-related transition plan the bank has, including information about key assumptions used in developing its transition plan, and dependencies on which the transition plan relies.”

In 2024 the Financial Sector Conduct Authority (FSCA) published a Sustainable Finance Consumer Risk Report and Roadmap which notes that it is considering developing voluntary guidance aligned with IFRS S1 and S2 for listed entities as well as considering mandatory requirements. If aligned with IFRS S2, FSCA rules would require disclosure of information about any climate-related transition plan entities have.

In 2022, the Johannesburg Stock Exchange (JSE) published voluntary Sustainability and Climate Disclosure Guidance which drew on the IFRS S1 and S2 Exposure Drafts published in March 2022. This proposed disclosures relating to transition plans for listed entities. The JSE recently confirmed this guidance remained relevant and useful for entities.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

The National Board of Accountants and Auditors (NBAA) approved the adoption of Sustainability Reporting Standards in Tanzania in September 2023, with implementation effective from January 2024.

These standards adopt IFRS S1 and S2, and all future ISSB standards. This adoption therefore includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”. The IFRS S1 and S2 standards are mandatory for all Public Interest Entities and all Public Sector Entities. Other entities are encouraged to comply with these standards.

Following the adoption of IFRS Sustainability Disclosure Standards, the NBAA made minor amendments to the Tanzania Financial Reporting Standard 1 (TFRS 1) to incorporate sustainability related financial information and climate-related disclosures in the report by those charged with governance.

The Bank of Tanzania also issued the Guidelines – Guidelines on Reporting of Sustainability – Related Risks and Opportunities for Banks and Financial Institutions, 2025 and the Guidelines – Guidelines on Climate – Related Financial Risks Management and Disclosures, 2025, both of which require application of IFRS S1 and S2 by financial institutions.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

In September 2024, the Institute of Certified Public Accountants of Uganda (ICPAU) launched Uganda’s Roadmap for implementing IFRS Standards S1 and S2. This adoption includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

The roadmap details a phased approach to adoption based on an entities size, across three phases. The roadmap notes that “adoption of IFRS Sustainability Disclosure Standards follows a structured progression, beginning with the most prepared and most resourced sectors with a gradual transition to other sectors that may not be adequately resourced presently”.

Adoption is voluntary for accounting periods on or after 1 January 2026 and through to accounting period ending on or before 31 December 2027 or 31 December 2028 or 31 December 2029 respectively, depending on entity size, and will become mandatory thereafter.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in place

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

The national standard setter, Zambia Institute of Chartered Accountants, issued a pronouncement in November 2023 for the adoption of IFRS S1 and S2. Under this, all publicly accountable entities are mandated to apply IFRS S1 and S2 for annual reporting periods beginning on or after 1 January 2025.

Publicly accountable entities include those whose securities are traded in public markets or that are in the process of issuing securities for trading in public markets. All other organisations are permitted to apply IFRS S1 and S2 voluntarily.

This application therefore includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

(Updated: October 2025)

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in progress

In November 2022, the Public Accountants and Auditors Board (PAAB) of Zimbabwe, through the Minister of Finance and Economic Development, issued a resolution entitled Zimbabwe Adoption of IFRS S1 & S2: Call for Evidence, for early adoption of the ISSB Standards.

In February 2025, the PAAB, Zimbabwe Stock Exchange (ZSE) and Victoria Falls Stock Exchange (VFEX) issued a joint statement confirming that submission of sustainability reports is mandatory for all listed entities for financial years commencing on or after 1 January 2024, in line with Statutory Instrument 134 of 2019, ZSE Practice Note 16, and VFEX Practice Note 2. The statement clarified that implementation of IFRS S1 and S2 specifically was not yet mandatory, and that the PAAB was developing an implementation roadmap.

The PAAB published a consultation on its draft Roadmap for Adoption for Sustainability Reporting in early 2026, with a comment period closing on 18 March 2026. The roadmap proposes a phased approach: Category 1 entities (the largest listed companies and public interest entities) would begin the adoption process for financial periods beginning 1 January 2026, with Categories 2–4 following for financial periods beginning 1 January 2027 onwards. The Board have not yet approved the final roadmap.

Under IFRS S2, adoption of the roadmap would include a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

(Updated: June 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

Bangladesh is in the early stages of implementing climate-related disclosure requirements, with a particular focus on the financial sector.

In 2023, Bangladesh Bank introduced mandatory ISSB-aligned climate and sustainability disclosure guidelines for listed and non-listed banks and financial institutions, with a phased roadmap from starting in January 2024 to 2027. The timeline included limited reporting starting mid-2024, with limited disclosure of IFRS S1 and S2 starting in 2025 and to full disclosures by 2027. This includes “disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies”.

To support this transition, Bangladesh Bank has partnered with the International Finance Corporation (IFC), the UN Sustainable Stock Exchanges Initiative (SSE), and the IFRS Foundation to train regulators and financial institutions.

The central bank’s guidance encourages institutions to outline how they intend to manage and reduce their exposure to climate-related risks over time.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in progress

China’s Ministry of Finance (MoF) established a cross-agency working group to create a unified national sustainability disclosure standards system, based on the ISSB Standards, adapted to fit China’s context and incorporating double materiality.

The system is built in two steps. In November 2024 the ‘Basic Standard’, which provides overarching requirements for business enterprises’ sustainability information disclosure, was issued.

Next, in December 2025, the MoF and the Ministry of Ecology and Environment formally issued Corporate Sustainable Disclosure Standard No. 1 – Climate (Trial), as a thematic standard to accompany the Basic Standard, which sets out requirements for companies to disclose climate-related impacts, risks and strategic responses. Under Article 12.4, firms are required to disclose “The company’s existing climate transition plan, including the key assumptions and rationale used in formulating the transition plan”. The climate standard is aligned with IFRS S2, incorporating the four core pillars of governance, strategy, risk and opportunity management, and metrics and targets, while incorporating China-specific requirements.

Both standards are currently voluntary. The MoF plans to establish the full architecture – comprising the Basic Standard, Corporate Sustainable Disclosure Standard No. 1 – Climate, and application guidance, by 2027, with a phased implementation from voluntary to mandatory disclosure. Mandatory compliance for the 5,000 listed companies initially in scope is expected by 2028, however the mandatory compliance timeline is yet to be confirmed.

In addition, Chinese stock exchanges (Shanghai, Shenzhen, and Beijing) announced plans to require some listed firms to disclose climate information including transition plan disclosures in 2024. In January 2025, the Shanghai Stock Exchange released a guide to assist listed companies in preparing high-quality sustainability reporting, including transition plans. At a regional level, transition planning guidance for financial institutions has also been released by the city of Huzhou, one of China’s green finance pilot zones.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

The Financial Supervisory Commission R.O.C (Taiwan) (FSC) issued a roadmap in August 2023 committing listed companies to align with IFRS Sustainability Disclosure Standards (IFRS S1 and S2), with implementation phased in from financial years beginning on or after 1 January 2026. These standards adopt IFRS S1 and S2, and all future ISSB Standards. This adoption therefore includes, under IFRS S2, a requirement to disclose “information about any climate‑related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

Under the FSC’s plan, large‑cap listed companies (with paid‑in capital over TWD 10 billion) will be required to report first in 2027 on FY2026 information; other listed companies with paid‑in capital between TWD 5‑10 billion will follow in 2028 on FY2027 information; and all remaining listed companies will follow in 2029 on FY2028 information.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in place

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

In April 2024 the Hong Kong Exchange published Conclusions on Climate Disclosure Requirements under its ESG framework which adopt IFRS S2. The requirements came into force on 1 January 2025 on a voluntary and comply or explain basis, with mandatory requirements only for scope 1 and 2 emissions. Mandatory disclosure of other areas, including transition plans for large cap issuers only, came into force from 1 January 2026. Large cap issuers will be required to publish “any climate-related transition plan the issuer has (including information about key assumptions used in developing its transition plan, and dependencies on which the issuer’s transition plan relies), or an appropriate negative statement where the issuer does not have a climate-related transition plan”. Issuers will also be required to publish updates on the plan.

Furthermore, the Hong Kong Monetary Authority (HKMA) has released guidance on good practice transition planning for banks, supported by a broader Sustainable Finance Action Agenda, and the Hong Kong Stock Exchange’s (HKEX) ESG Reporting Guide encourages companies to align with TCFD recommendations on their climate disclosures.

In January 2026, Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group launched a Transition Plan Disclosure Pilot, as part of its 2026–2028 strategic priorities to enhance Hong Kong’s competitiveness as a sustainable finance hub. The Pilot is working with industry to develop best practices for credible transition plan disclosure aligned with global frameworks including TPT and ISSB. The Strategy also seeks to scale transition finance, including by encouraging wider industry adoption of transition planning by providing guidance and promoting good practices

(Updated: June 2026)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in progress

In February 2024, the Reserve Bank of India (RBI) published a draft disclosure framework on climate-related financial risks for consultation. These climate-related disclosures have been developed in line with IFRS S1 and S2 and would apply to financial institutions from FY 2028 onwards. The draft framework includes similar language to IFRS S2 on transition plans, asking if entities have “any climate-related transition plan, and if yes, information about the key assumptions used in developing and factors which would influence the transition plan”. The consultation proposes that disclosures relating to transition plans would be expected by the largest entities from FY2026. The RBI has not yet responded to the consultation.

The Securities and Exchange Board of India has mandated Business Responsibility and Sustainability Reporting (BRSB) in Annual Reports for the top 1,000 listed companies, since financial year 2023, which includes climate risk disclosures with transition plan elements. These disclosures are mandatory for large listed companies, and remain voluntary for private firms.

The Ministry of Corporate Affairs has also introduced broader sustainability reporting requirements under the Companies Act, but these are less detailed on transition plans.

(Updated: October 2025)

Mandatory transition plan rules, regulations or guidance in place

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

In July 2025, the Institute of Indonesia Chartered Accountants (IAI) launched Indonesia’s sustainability reporting standards PSPK 1 and PSPK 2, as an adoption of IFRS S1 and S2. This followed the publication of the Roadmap of Sustainability Disclosure Standards and the exposure draft of the standards in December 2024. No substantive changes were made. The language in PSPK 2 matches IFRS S2 in requiring disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies. The rules take effect 1 January 2027.
The existing OJK Regulation Number 51/2017 requires financial institutions, issuers, and public companies to implement sustainable finance. Under this Regulation, financial institutions must develop and submit a Sustainable Finance Action Plan to OJK, while financial institutions, issuers, and public companies are required to develop and disclose a Sustainability Report.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

In March 2025, the Sustainability Standards Board of Japan (SSBJ) issued its inaugural sustainability disclosure standards based on IFRS S2. These include disclosure of information about any climate-related transition plan an entity has, including information about key assumptions and dependencies.

The standards were voluntary initially, however they were developed on the assumption that they would eventually be required to be applied by entities listed on the Prime Market of the Tokyo Stock Exchange (TSE).

In February 2026, Japan’s Financial Services Agency (FSA) finalised a Cabinet Office Order making compliance with the SSBJ Standards legally mandatory for TSE Prime Market companies. Mandatory reporting is phased by market capitalisation: companies with average market cap of ¥3 trillion or more are required from the fiscal year ending March 2027; those with ¥1 trillion or more from fiscal year ending March 2028; and those with ¥500 billion or more from fiscal year ending March 2029. In April 2026, the FSA published a definitive roadmap establishing the full framework for mandatory sustainability reporting for large-cap TSE Prime Market issuers.

Japan’s GX Emissions Trading System (GX-ETS) launched in April 2026, administered by the GX Acceleration Agency (GXAA), initially covering 300-400 companies representing approximately 60% of national emissions. Applicable companies will need to publish and submit a transition plan to METI, as well their as well as their average annual emissions amount and emissions targets, in order for them to be allocated an emissions allowance – introducing a mandatory transition plan framework for the highest-emitting companies in Japan.

In April 2026, the GX Future Consortium was launched under the GXAA secretariat, taking over from the TCFD Consortium and the GX League. It will provide support for corporate disclosure, issuing a guidebook on transition plans, and will serve as a vehicle for advancing discussions on disclosure and transition plan frameworks.

(Updated: June 2026)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

The Amman Stock Exchange (ASE), along with the Jordan Securities Commission and related authorities, adopted a regulatory framework on 31 December 2024 that permits all listed companies in Jordan to apply IFRS S1 and S2, and mandates that ASE20 Index companies apply the climate‑related requirements in the ISSB Standards for annual reporting periods beginning on or after 1 January 2026 (with disclosures published after 1 January 2027).

These standards adopt IFRS S1 and S2, and all future ISSB standards. This adoption therefore includes, under IFRS S2, a requirement to disclose “information about any climate‑related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

To support the regulatory framework, ASE has developed a guidance manual and national Climate-Related Disclosure Policy to help listed companies understand how to disclose climate-related issues (risks, opportunities, etc.), aligning with IFRS S2 and relevant climate elements of IFRS S1.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

The IFRS Foundation lists Kyrgyzstan as a jurisdiction that has announced plans to incorporate ISSB Standards into its regulatory framework.

The details of the proposed adoption timeline, scope, and any transition reliefs have not yet been published, and the mandatory adoption timeline and scope have not been finalised.

(Updated June 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

The Advisory Committee on Sustainability Reporting in Malaysia issued the National Sustainability Reporting Framework (NSRF) in September 2024, adopting IFRS S1 and S2, and committing to the implementation of all future ISSB Standards. This was followed by amendments to Bursa Malaysia’s Main Market and ACE Market Listing Requirements in December 2024, mandating sustainability-related disclosures for listed issuers in accordance with IFRS S1 and S2.

This adoption therefore includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

These standards are being phased in across three groups of entities, beginning with large Main Market listed issuers (Group 1) from January 2025 for climate-related disclosures and January 2027 for full IFRS S1 and S2 compliance. Other Main Market issuers (Group 2) will follow from 2026 and 2028 respectively, while ACE Market and large non-listed companies (Group 3) will follow from 2027 and 2030.

(Updated: October 2025)

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in progress

The Accounting Standards Board (ASB) of Nepal published a consultation on the draft Nepal Sustainability Reporting Standards (NSRS), which are intended to align with IFRS S1 and S2. Under S2, adoption of the draft standards would include a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

The consultation closed in August 2025. Nepal have not yet published a response or roadmap to the consultation.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

Pakistan formally mandated application of IFRS S1 and S2 through an order by the Securities and Exchange Commission of Pakistan (SECP) on 31 December 2024.

Under IFRS S2 Pakistan requires that entities in scope disclose “information about any climate‑related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies”.

These requirements are being phased in over three cohorts, based on size thresholds (comprised of turnover, assets, and number of employees). Phase 1, for annual periods beginning on or after 1 July 2025, covers listed companies meeting at least two of certain size criteria. Phase 2, from 1 July 2026, covers smaller companies with lower thresholds, and Phase 3 from 1 July 2027 successively covers all remaining listed companies and non‑listed Public Interest Companies licensed or registered with the SEC. Entities under each phase are required to prepare their sustainability‑related disclosure in their annual reports, at the same time as their financial statements.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

The Philippine Sustainability Reporting Committee (PSRC), under the Financial and Sustainability Reporting Standards Council (FSRSC), approved a Proposed Roadmap for the adoption of Sustainability Reporting Standards in the Philippines in December 2023, with phased implementation beginning from January 2026 for companies regulated by the Securities and Exchange Commission (SEC).

These Sustainability Reporting Standards endorse IFRS S1 and S2, and all future ISSB standards, under PFRS S1 and PFRS S2. This therefore includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.” The Philippines’ Securities and Exchange Commission issued Memorandum Circular No. 16, Series of 2025 in December 2025, formally adopting the Philippine Financial Reporting Standards on Sustainability Disclosures.

The PFRS S1 and S2 standards will be mandatory for all listed companies and large non-listed Public Interest Entities, with tiered implementation starting with large listed companies (Tier 1) from 1 January 2026, mid-sized listed companies (Tier 2) from 1 January 2027, and smaller listed and large non-listed entities (Tier 3) from 1 January 2028. Government corporations are also classified under Tier 3.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

The Qatar Financial Centre Regulatory Authority (QFCRA) adopted the Corporate Sustainability Reporting and Minor and Technical Amendments Rules 2025 (“the CSR Rules”) in early 2025, with implementation commencing from 1 January 2026. These rules adopt IFRS S1 and S2, and commit to the application of all future ISSB Standards. This adoption therefore includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

The CSR Rules are being implemented in a phased approach. From 1 January 2026, all Category A authorised firms (including banks, insurers, and large financial institutions) are required to report in accordance with IFRS S1 and S2. From 1 January 2027, the QFCRA will designate additional authorised firms to be brought under the rules, based on proportionality criteria such as size, risk exposure, and business activity. In preparation for implementation, the QFCRA published accompanying guidance How to Start the Journey in Applying the ISSB Standards to support firms in aligning their internal systems, governance, and reporting processes.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

Singapore is taking a phased approach towards introducing the climate requirements in ISSB Standards into its regulatory framework.

In February 2024, the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange Regulation (SGX RegCo) announced they will implement mandatory climate-related disclosure (CRD) requirements for listed and large non-listed companies.

In August 2025, ACRA and SGX RegCo announced extended timelines for most climate reporting requirements, which are being implemented via a phased approach. All listed companies are required to disclose Scope 1 & 2 GHG emissions from FY2025, with Scope 3 GHG emissions disclosure requirement from FY2026 for Strait Times Index (STI) constituents and voluntary for other listed companies.

Other ISSB-based climate related disclosures (CRD), which includes IFRS S2 language on transition plans requiring disclosure of information about any climate-related transition plan the entity has – including information about key assumptions and dependencies, are mandatory for STI constituents from FY2025 and will be mandatory for other large listed companies from FY 2028 and all non listed companies from FY2030.

For large non-listed companies Scope 1 and 2 GHG emissions and other ISSB-based CRD will be mandatory from FY2030, with Scope 3 GHG emission disclosures remaining voluntary.

In March 2026 the Monetary Authority of Singapore (MAS) finalised its Guidelines on Environmental Risk Management – Transition Planning, introducing supervisory transition planning guidelines for all MAS‑regulated financial institutions. The guidelines, issued as three documents, separately set out MAS’ supervisory expectations for banks, insurers and asset managers “to manage the transition and physical risks they face from climate change as part of a sound transition planning process”. The guidelines come into force in September 2027.

(Updated: June 2026)

Mandatory transition plan rules, regulation or guidance in place

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

The Institute of Chartered Accountants of Sri Lanka issued local standards SLFRS S1 and SLFRS S2, which incorporate IFRS S1 and S2, for mandatory application over a phased in approach. Given alignment with the ISSB Standards, this includes a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies”.

This approach is effective for reporting periods from 1 January 2025 for the top 100 entities on the Colombo Stock Exchange, Main Board entities on the Exchange for annual reporting periods on or after 1 January 2026, and all other listed entities from reporting periods on or after 1 January 2027. A further phased approach from 2028-2030 is applicable to non-listed companies subject to Sri Lanka Accounting and Auditing Standards Monitoring Board oversight.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in progress

Following a draft standard published in May 2024, in February 2026, the Korea Sustainability Standards Board (KSSB) published the final Korean Sustainability Disclosure Standards, KSSB 1 and KSSB 2, fully aligned with IFRS S1 and IFRS S2. As these align with the ISSB Standards, KSSB 2 includes the disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies. The KSSB intends for these rules to be mandatory, with the Financial Services Comission (FSC) publishing a draft mandatory implementation roadmap which was open for consultation until March 2026. They have not yet published a response to this consultation.

A non-mandatory standard, KSSB 101, covers country-specific ESG information to align with domestic policy priorities, and is also part of the proposed disclosure standards under consultation.

(Updated: June 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

The Thai Securities and Exchange Commission (SEC Thailand) previously issued a public consultation the ‘Principle of Thailand Sustainability Disclosure Roadmap regarding International Sustainability Standards’), which closed in December 2024. The proposed approach is to take a ‘climate-first approach’ (IFRS S2 and the relevant portion of IFRS S1) for five years, therefore including IFRS S2 language on disclosing “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies”. SEC Thailand has since published a sustainability disclosure consultation in September 2025: Draft Notifications and Relevant Documents regarding the Regulatory Amendment related to the Sustainability-Related Information Disclosure Requirements of the Listed Companies towards the ISSB Standards. Following the consultation in November 2025, the SEC mainted the principles for sustainability-related information disclosure in alignment with the ISSB Standards, whilst revising the timeline for implimentation.

SEC Thailand has implemented a phased-in approach to the standards, beginning with listed companies categorised in SET50 Index, who would be required to start disclosing in 2028 for the annual reporting period of 2027.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

The UAE has not yet mandated transition plan disclosures. However, in June 2025, the Dubai Financial Services Authority (DSFA), together with other members of the United Arab Emirates (UAE) Sustainable Finance Working Group (SFWG), launched a public consultation on draft Principles for Climate Transition Planning for the financial sector. The draft Principles are designed to help financial institutions develop credible, transparent, and effective climate transition plans and were open to consultation from stakeholders until July. In December 2025, the DSFA published a statement reaffarming the principles as a “a national reference framework for embedding climate and sustainability considerations across financial services, corporates, and markets”.

More broadly in 2024 the UAE SFWG, which gathers financial regulators, ministries and UAE exchanges, released Principles for Sustainability-related Disclosures (2024). Under these principles, entities are expected to disclose transition plans. Regulators in the UAE do not currently mandate IFRS S1 or S2 compliance.

(Updated: February 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

In April 2026 Uzbekistan adopted IFRS Sustainability Disclosure Standards through Presidential Decree No. PP-282 (15 September 2025). The decree provides for the implementation, publication, and translation of the IFRS Sustainability Disclosure Standards, establishing a legal and institutional framework for their application in Uzbekistan.

Under the decree, the application of IFRS S1 and S2 will become mandatory for public interest entities starting from 1 January 2027. This adoption therefore includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

(Updated June 2026)

UK
Switzerland
EU countries
Türkiye

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

The Government issued a transition plan requirements consultation, which closed in September 2025. This follows a government commitment to mandate “UK-regulated financial institutions (including banks, asset managers, pension funds and insurers) and FTSE 100 companies to develop and implement credible transition plans that align with the 1.5°C goal of the Paris Agreement”.

In addition, the UK Sustainability Disclosure Technical Advisory Committee (TAC) previously assessed ISSB’s IFRS S1 and IFRS S2, recommending they be endorsed with minor UK-specific amendments and the Government also consulted on these standards, to be known as the UK Sustainability Reporting Standards (SRS) with requirements for ‘economically significant’ companies. The UK SRS Exposure Draft retains IFRS S2 language on disclosure of “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies”. The consultation closed in September 2025. The UK Government have not yet issued a response to the consultation.

The FCA published a consultation in January 2026 on how listed companies will adopt the UK Sustainability Reporting Standards, which tailor the ISSB Standards for the UK. The consultation seeks to update the FCA’s current TCFD-aligned transition plan guidance with rules aligned with the UK Sustainability Reporting Standards to ensure consistency, and a rule to require listed companies to include a statement in their annual financial report stating whether they have disclosed a climate-related transition plan, and where it can be found. If they have not published a transition plan, the FCA propose that they state why not. As part of its consultation, the FCA has also proposed guidance that states that companies may wish to use the IFRS Educational Material on transition plans

(Updated: June 2026)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in progress

In Switzerland, private companies above reporting thresholds must already have TCFD-aligned transition plans – all large private companies must publicize climate risk reports and include transition plans under the Ordinance on the Reporting of Climate Matters (ORCM) since January 2024. From 2025, access to green subsidies (e.g., building renovation, industry incentives) requires formal, aligned transition roadmap and by 2026 ISSB/ESRS-aligned, machine-readable transition plans will be mandatory for all companies meeting ORCM size criteria.

In 2024 Switzerland consulted to amend the Swiss Code of Obligations, and the Ordinance on Climate Disclosures which sits under the Code. This consultation sought views on whether to mandate disclosures, replace TCFD reporting to a choice between ISSB (with additional information from frameworks such as GRI) or ESRS, and to increase the number of entities in scope. If fully aligned with IFRS S2, this would include disclosure of information about any climate-related transition plan the entities have. Swiss regulators have not yet issued a response to the consultation.

(Updated February 2026)

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

There are two main regulatory files covering transition plans in the EU:

The Corporate Sustainability Reporting Directive (CSRD) requires disclosure of transition plans, based on the European Sustainability Reporting Standards (ESRS) which sets out requirements for disclosure of “transition plans for climate change mitigation”. Following approval of the Omnibus package by the European Parliament in December 2025, the scope has been updated to apply to EU companies with more than 1,000 employees and net annual turnover of EUR 450 million or more. The implementation has been postponed by two years, with CSRD requirements now coming into force in 2027. The Omnibus package is expected to become law in March 2026.
The Capital Requirements Directive (CRD) sets standards for risk management and governance for banks, and CRD VI requires credit institutions to develop and monitor transition plans as part of their environmental, social and governance risk management framework. To support CRD VI, the European Banking Authority (EBA) issued Guidelines on the management of ESG risks in January 2025, with most credit institutions required to comply by 11 January 2026, while small and non-complex institutions have until 11 January 2027. These transition plans are assessed by banking supervisors as part of the supervisory review and evaluation process and are not subject to public disclosure.

In addition, under the amended Solvency II Directive, insurers and reinsurers are now required to develop “sustainability risk plans”. Specifically, Article 44 was updated to require firms to: “develop and monitor the implementation of specific plans, quantifiable targets, and processes to monitor and address the financial risks arising in the short, medium, and long-term from sustainability factors”. The directive entered into force on 28 January 2025, with Member States required to transpose it into national law by 29 January 2027, and full application from 30 January 2027. Detailed technical standards will follow in delegated regulations and implementing technical standards from EIOPA, expected to apply from October 2027.

The EU Emissions Trading Scheme (ETS) also requires high emitters to establish “climate-neutrality plans” in order to receive allocations under the ETS.

The ISSB and European Commission have stated that the ESRS climate disclosure requirements have a high degree of alignment to the ISSB standards, IFRS S1 and S2, where they overlap.

In January 2026, the European Central Bank (ECB) identified assessing banks’ prudential transition plans as a priority area under its forward work programme, following conclusion of its Climate and Nature Plan 2024–2025.

Under the Omnibus “simplification” process package, approved by the EU Commission and EU Parliament in December 2025, the mandatory transition plan requirement has been removed from the Corporate Sustainability Due Diligence Directive (CSDDD). The requirement to disclose a transition plan (if the undertaking has one) remains in place under the CSRD. The Omnibus I Directive entered into force in March 2026.

(Updated June 2026)

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

Türkiye has formally adopted ISSB-aligned sustainability disclosure standards through its own national framework. In December 2023, the Public Oversight Accounting and Auditing Standards Authority (KGK) issued the Turkish Sustainability Reporting Standards (TSRS) 1 and 2, which are direct translations and adaptations of IFRS S1 and S2. This therefore includes “disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies”.

These standards became mandatory for fiscal periods after January 1, 2024, for all banks and for large and listed companies and financial institutions meeting specific thresholds. The implementation is being phased in, with limited assurance required in the early years and plans for reasonable assurance over time. Türkiye is one of the first countries to fully mandate ISSB-aligned disclosures, including transition-plan elements, across key sectors of its economy.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

The Technical National Council of Auditing and Accounting (CTNAC) in Bolivia issued Resolution CTNAC 01/2024 mandating the application of IFRS S1 and S2 without modifications, effective for reporting periods beginning on or after 1 January 2027.

Resolution CTNAC 01/2024 adopts IFRS S1 and IFRS S2 in full, thereby requiring entities to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

The scope of application (e.g. thresholds, sectors) will be clarified through further regulatory processes led by the Authority for Fiscal Control of Businesses (AEMP). No external assurance is mandated under this resolution.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in place

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

From January 2026, public companies and major financial institutions have been required to provide annual sustainability and climate-related disclosures aligned with ISSB recommendations, following a period of voluntary reporting since January 2024 for public companies.

In October 2024 the Brazilian Securities and Exchange Commission (CVM) adopted ISSB aligned disclosure standards CBPS 01 and CBPS 02, confirming their voluntary application by publicly held companies, investment funds, and securitisation companies from 2024 and mandatory application by publicly held companies from 2026. Likewise, the National Monetary Council also adopted the ISSB-aligned disclosure standards CBPS 01 and CBPS 02 for financial institutions in November 2024. These standards became mandatory for major financial institutions in 2026 and for medium-sized financial entities in 2028 (Resolution CMN no. 5,185/2024).

CBPS 02 matches IFRS S2 language on transition plans, which includes “disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies”.

In additon, since 2021 most financial institutions and other institutions licensed by Brazil Central Bank (BCB) have been required to publish a Report on Social, Environmental and Climate-related Risks and Opportunities (GRSAC Report).

In May 2024, the BCB issued a consultation on inclusion of disclosure metrics in GRSAC Report. A question was posed on whether transition plan requirements should be introduced for financial institutions. In November 2025, the BCB launched a public consultation, closing on 13 February 2026, proposing changes to the GRSAC Report to include new quantitative disclosure requirements aligned with the Basel Committee on Banking Supervision (BCBS) framework for disclosure of climate-related financial risks. These changes are also consistent with IFRS S1 and S2. The proposal contains a requirement to disclose transition plan information if a financial institution has one.

(Updated: February 2026)

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

In December 2024, the Canadian Sustainability Standards Board released Canadian Sustainability Disclosure Standards (CSDS) 1 and 2, which are closely based on IFRS S1 and S2. CSDS 2 matches IFRS S2 language for an entity to disclose information about any climate-related transition plan the entity has, including information about key assumptions and dependencies. These standards became effective from 1January 2025 on a voluntary basis. In April 2025, the Canadian Securities Administrators (CSA) paused work on a mandatory disclosure rule.

In March 2025, The Office of the Superintendent of Financial Institutions (OFSI) introduced climate risk management guidelines for federally regulated financial institutions s which includes that they should develop and implement a Climate Transition Plan. The plan should include physical and transition risks, assessment of achievability under different scenarios and how it would measure and assess progress against the plan. The implementation timeline is to be determined.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in place

Chile has mandated reporting against IFRS S1 and S2 for all listed entities, and non-listed publicly accountable entities regulated by the Financial Market Commission (CMF), beginning with annual reporting periods starting in 2026, to be reported in 2027. under the CMF’s General Rule No. 519.

This includes requiring disclosure of “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies” as per IFRS S2.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in place

Costa Rica formally adopted ISSB’s IFRS S1 and S2 standards via its professional accounting body in December 2023. Reporting was voluntary from 1 January 2024 and becomes mandatory from FY 2027, with first reports expected in 2028.

Mandatory requirements will be for publicly regulated financial companies under the financial regulator CONASSIF (El Consejo Nacional de Supervisión del Sistema Financiero ) and entities categorised as ‘large taxpayers’ by the tax authority. IFRS S2 includes “disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies”.

(Updated: October 2025)

Voluntary transition plan guidance in place

ISSB or ISSB-aligned standards in progress

Voluntary application of IFRS S1 and S2 in company reporting was permitted from 1 January 2025 via the Supervisory Board of the Public Accounting and Auditing Profession’s Resolution 82, published in August 2024. As such, under IFRS S2, entities may disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

The time and scope of any mandatory reporting, for both non-publicly accountable and publicly accountable entities, is yet to be determined by the regulators.

(Updated: October 2025)

Mandatory transition plan rules, regulations or guidance in place

ISSB or ISSB-aligned standards in place

Mexico is moving toward mandatory, ISSB-aligned sustainability disclosures for listed companies. This excludes financial institutions.

In 2024, the Mexican Banking and Securities Commission announced that publicly listed companies will be required to report using IFRS S1 and S2 starting from fiscal year 2025, with first reports due in 2026. This therefore includes “disclosure of information about any climate-related transition plan the entity has, including information about key assumptions and dependencies”. Initially, reporting will be subject to limited assurance, moving to reasonable assurance by 2027. These requirements only apply to listed entities.

(Updated: October 2025)

Voluntary transition plan guidance in place

In 2023, the Superintendency of Banks publicly expressed support of work on the ISSB Standards – IFRS S1 and S2. However, Panama has not yet indicated regulation to align with or mandate the standards.

Panama is a member of IOSCO’s “Growth and Emerging Markets Committee Network”, which is aimed at supporting members in adopting or making use of the ISSB Standards.

(Updated: October 2025)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

On 18 March 2026, Peru’s Technical National Council of Accounting (Consejo Normativo de Contabilidad – CNC) approved the mandatory application of IFRS S1 and S2. This adoption includes, under IFRS S2, a requirement to disclose “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies.”

Under the approval, mandatory implementation will apply to companies regulated by the Superintendence of the Securities Market (SMV) or the Superintendence of Banking, Insurance and AFPs (SBS), and companies not within the regulatory scope of those organisiations whose annual revenues are equal to or greater than 2,300 UIT (Unidades Impositivas Tributarias). Companies in scope will be required to report how sustainability and climate issues influence their performance, strategy, and risk management, integrating this information into their financial and accounting reporting package.

The reporting obligation will come into force on 1 January 2029. During this process, the CNC will issue complementary rules and procedures, while the SMV and the SBS will develop specific provisions applicable to the entities under their regulatory and supervisory scope.

(Updated June 2026)

Mandatory transition plan rules, regulation or guidance in progress

ISSB or ISSB-aligned standards in progress

There is no mandatory or voluntary guidance for transition plans in the USA.

Some states (e.g. California) are in the process of devising climate related risk disclosures that align with TCFD models or the ISSB standards IFRS S1 and S2

(Updated: October 2025)

Australia
New Zealand

Mandatory transition plan rules, regulation or guidance in place

ISSB or ISSB-aligned standards in place

In September 2024 the Australia Accounting Standards Board published AASB S1 and S2, based on IFRS S1 and S2. AASB became effective for certain entities from 1 January 2025. AASB S2 matches IFRS S2 on transition plans, requiring disclosure of “information about any climate-related transition plan the entity has, including information about key assumptions used in developing its transition plan, and dependencies on which the entity’s transition plan relies”. Reporting became mandatory for the largest companies from 1 January 2025, with a phasing in for smaller companies in 2026 and 2027.

For the first three years (2025–2028), forward looking disclosures and statements on transition plans, Scope 3 emissions reporting and scenario analysis receive limited liability exemptions and are protected from legal action.

Over August to September 2025, the Australian Treasury consulted on draft Climate-related Transition Planning Guidance to support organisations undertaking transition planning. Following this period of consultation the Australian Treasury is in the process of finalising this voluntary guidance.

(Updated: February 2026)

Mandatory transition plan rules, regulations or guidance in place

ISSB or ISSB-aligned standards in place

New Zealand was the first country to issue mandatory reporting standards for climate-related disclosures (NZ CS). These apply to certain large financial institutions and listed companies as specified in primary legislation. Since January 2023, entities meeting the size thresholds have been reporting their climate-related governance, strategy, risks & opportunities and metrics & targets in line with NZ CS (which are based on the TCFD’s recommendations). Under NZ CS, transition planning is about describing how an entity will position itself as the global and domestic economy transitions towards a low-emissions, climate-resilient future.

New Zealand has not formally adopted ISSB standards, since IFRS S1 and IFRS S2 were issued after the start of the mandatory reporting period in New Zealand. The External Reporting Board (XRB) has published an interoperability assessment with IFRS S1/S2 that shows a strong degree of alignment between NZ CS and the climate disclosure elements of IFRS S1/S2.

The XRB has also released disclosure guidance and a range of supporting guidance on topics including transition planning, scenario analysis, sector-level scenario analysis, anticipated financial impacts, scope 3 greenhouse gas emissions, FAQs, and comparison guides showing interoperability between NZ CS and IFRS S2 and the Australian Sustainability Reporting Standard AASB S2.

In its recent consultation on the international alignment of climate reporting, the XRB heard that international alignment, particularly with IFRS S2 and the Australian climate standard based on IFRS S2 is important. It also heard the need for stability and a phased approach for change. The XRB is considering next steps following this consultation.

The XRB aims for its standards to be international aligned, and locally relevant.

(Updated: November 2025)

About the data

Where jurisdictions have ISSB, or ISSB-aligned, disclosure rules, reporting entities must disclose “information about any climate-related transition plan the entity has, including information about key assumptions and dependencies.” Under this rule, companies are required to disclose transition plan information where they have one – they are not mandated to develop a transition plan to comply. Many are now moving toward making ISSB reporting mandatory.

Some governments and regulators are also publishing dedicated transition plan guidance. Historically, these rules came mainly from securities regulators, prudential supervisors, or accounting bodies. Increasingly, however, government departments are stepping in – for example through emissions trading schemes or public procurement requirements.

As of 19 February 2026, this map covers 42 jurisdictions, including G20 members and ISSB adopters. This map will be updated periodically as rules, regulation and guidance continue to progress globally.

We welcome updates and additional information from policymakers, regulators, and other stakeholders to keep this resource accurate and comprehensive. Please contact us to learn more about our methodology and sources.