IPSASB Issues SRS 1: Climate-related Disclosures for Governments

Posted 20 February 2026 Written by Acts Online
Category Sustainability Reporting

Brought to you by SA Accounting Academy: The International Public Sector Accounting Standards Board (IPSASB) has released its inaugural sustainability reporting standard, IPSASB Sustainability Reporting Standard (SRS) 1, Climate-related Disclosures, to regulate how public sector entities report climate risks and opportunities.

In terms of IPSASB SRS 1, public sector entities are required to disclose information regarding climate-related risks and opportunities that is useful to primary users of general-purpose financial reports. This standard is designed to close the gap in public sector guidance regarding climate change exposure and extreme weather events, ensuring that such factors are integrated into accountability and decision-making processes.

The standard follows the draft issued in October 2024 and establishes a global baseline for climate disclosure specifically tailored for the public sector. Key objectives of the standard include:

  • Requiring entities to disclose climate-related risks and opportunities that could reasonably be expected to affect the entity’s prospects;
  • Enhancing transparency and accountability for governments and public sector entities; and
  • Providing primary users with information necessary for informed decision-making regarding resource allocation.

IPSASB SRS 1 is effective for reporting periods beginning on or after 1 January 2028. The Board has confirmed that earlier adoption of the standard is permitted for entities wishing to implement these disclosures ahead of the mandatory deadline.

Click here to download the At a Glance summary or access the full IPSASB SRS 1: Climate-related Disclosures standard.

What this means for you, your business, or your clients

  • For yourself: You must familiarise yourself with the specific disclosure requirements of IPSASB SRS 1 to ensure your professional advisory remains compliant with emerging public sector sustainability frameworks.
  • For your business: Audit and accounting firms serving public sector clients must update their internal compliance checklists and reporting templates to incorporate these climate-related disclosure requirements before the 2028 effective date.
  • For your clients: Public sector entities and government departments must begin establishing data collection systems to identify and quantify climate-related risks and opportunities to meet the mandatory reporting deadline of 1 January 2028.

Originally published at https://accountingacademy.co.za/news/read/ipsasb-srs-1-climate-related-disclosures-rules-for-governments

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