The draft Sustainability Standards have been prepared by referring to IFRS, GRI, SEC, EU, TCFD and BRSR frameworks and the draft Sustainability Standards have been prepared by carve out an approach with focus on BRSR.
The draft Sustainability Standards have been prepared incorporating Cost and Management Accounting dimensions. It has been prepared keeping in view the Indian Context and has been prepared as per structure and template of Cost Accounting Standards.
These Standards have been prepared with focus on users and are sector agnostic. The draft Sustainability Standards refer to and revolve around - risks, their impact and opportunities that may affect or impact the performance, prospects and cash flows of an entity over the short, medium and long term.
The draft Sustainability Standards are focused on stakeholders – instead of The users of general purpose financial reports.
Accordingly, Sustainability Standards Board of the Institute developed the standards in its 10th meeting held on 30th December 2024 approved the draft and decided to expose it for seeking views/comments from all stakeholders by giving time of 21 days.
The comments / suggestions so received shall be compiled and would be placed before the SSB for consideration. Once approved by the SSB the standards will be released as per the directions of the Council.
In the above background, the SSB seeks your views / comments / suggestions on the Exposure Draft of standards in the following format latest by January 27, 2025 through email at ssb@icmai.in
To download the Exposure Draft of "ICMAI Sustainability Standard ISS1 pertains to Sustainability Standard on General Requirements for Disclosure of Sustainability-related Information", please click here
To download the Exposure Draft of "ICMAI Sustainability Standard ISS2 Sustainability Standard for Climate risk disclosures", please click here
Date: January 7, 2025
With best regards, CMA (Dr.) Ashish P. Thatte Chairman, SSB (2024-25) The Institute of Cost Accountants of India (ICMAI )
