International requirements for enterprise reporting on climate impact




information, climate, reporting, integrated reporting, legal regulation, structure, IFRS S2.


Introduction. In the 21st century humanity faced challenges related to its survival: pandemic, wars, global climate change. Therefore, for business entities, there are important issues regarding the development of legal regulations in the field of disclosure of information related to climate change in the reporting of business entities.

Problem. There is currently no mandatory requirement to disclose information about the impact of the enterprise on the climate in the reporting of both domestic and foreign economic entities, therefore the adoption of the draft IFRS S2 «Disclosure of information related to the climate» requires a wide discussion among practitioners and scientists.

The aim of the study is to highlight the content, structure, and main components of the IFRS S2 project «Disclosure of climate-related information» taking into account domestic and international experience in the conditions of global climate change.

Methods. During the research, the following methods were used: theoretical generalization and grouping; graphic method; systematization; logical generalization of the results.

Results. The structure and content of the draft IFRS S2 «Disclosure of climate-related information» is highlighted, as well as information on taking immediate measures to combat climate change in the integrated reporting of Ukrainian and foreign enterprises is displayed.

Conclusions. The adoption and application of the draft IFRS S2 «Disclosure of climate-related information» will make it possible to reflect in the reporting information on the impact of business entities on climate change in the world, which will be organized according to the appropriate structure, which will ensure transparency, completeness, as well as its comparability between different business entities.

Author Biographies

Kostiantyn BEZVERKHYI, State University of Trade and Economics

PhD (Economics), Associate Professor, Associate Professor at the Department of Financial Analysis and Audit

Nataliia PODDUBNA, Management Office PJSC «UKRNAFTA»

PhD (Economics), CAP, ACCA DipIFR, Auditor at the Department of Internal Audit


Transforming our world: the 2030 Agenda for Sustainable Development. [In English].

The Global risks report 2022. [In English].

[Draft] IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information. [In English].

Monasterolo, I., Battiston, S., Janetos, A.C., & Zheng, Z. (2017). Vulnerable yet relevant: the two dimensions of climate-related financial disclosure. Climatic Change. (Vol. 145 (3-4), (pp. 495-507). [In English]

Brown, L. (2022). The climate-related financial disclosure regulations 2022: A step in the right direction for ESG in the private sector. Environmental Law Review. (Vol. 24(3), (pp. 214-223). [In English]

Edwards, I., Yapp, K., Mackay, S., & Mackey, B. (2020). Climate-related financial disclosures in the public sector. Nature Climate Change, (Vol. 10(7), (pp. 588-591). [In English]

Lombardi, R., Schimperna, F., Paoloni, P., & Galeotti, M. (2022). The climate-related information in the changing EU directive on non-financial reporting and disclosure: first evidence by Italian large companies. Journal of Applied Accounting Research. (Vol. 23(1), (pp. 250-273). [In English]

Siew, R.Y.J. (2020). Climate-related financial disclosure and the property and construction sector. Proceedings of the Institution of Civil Engineers: Engineering Sustainability. (Vol. 174(1), (pp. 3-8). [In English]

Tóth, Á., Suta, A., & Szauter, F. (2022). Interrelation between the climate-related sustainability and the financial reporting disclosures of the European automotive industry. Clean Technologies and Environmental Policy. (Vol. 24(1), (pp. 437-445). [In English]

Farbotko, C. (2019). Global financial stability, rapid transition to a low-carbon economy and social justice: can climate-related financial risk disclosure do it all? Australian Geographer. (Vol. 50(3), (pp. 273-278). [In English]

Farbotko, C. (2019). Global financial stability, rapid transition to a low-carbon economy and social justice: can climate-related financial risk disclosure do it all? Australian Geographer. (Vol. 50 (3), (pp. 273-278). [In English]

Integrovanyj zvit 2020: finansovi ta nefinansovi pokaznyky [Integrated report 2020: financial and non-financial indicators]. [In Ukrainian].

Richnyj zvit za 2021 rik: rozshyrena prezentacija [Annual report for 2021: extended presentation]. [In Ukrainian].

Integrovanyj zvit AT «Ukrzaliznycja» za 2020 r. [Integrated report of JSC «Ukrzaliznytsia» for 2020]. [In Ukrainian].

Integrovanyj zvit pro prozorist' BDO v Ukrai'ni za 2021 rik [Integrated report on transparency of BDO in Ukraine for 2021]. [In Ukrainian].

Mitsubishi Corporation Integrated Report 2022. [In English].

Philips Annual Report 2021. [In English].

SAP Integrated Report 2021. [In English].

Vodacom Group Ltd Integrated Report 2021. [In English].



How to Cite

BEZVERKHYI К., & PODDUBNA Н. (2023). International requirements for enterprise reporting on climate impact. oreign rade: onomics, inance, aw, 126(1), 81–93.