IFRS S1 AND S2: GLOBAL SUSTAINABILITY REPORTING STANDARDS AND STRATEGIC IMPLICATIONS FOR VIETNAMESE ENTERPRISES

Abstract

n the context of the global economy shifting strongly towards green, circular and carbonneutral development, transparency and standardization of sustainability information have become core requirements to maintain market confidence and mobilize international capital flows. In 2023, the International Financial Reporting Standards Board (ISSB - under the IFRS Foundation) issued two key standards: IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climaterelated Disclosures). This is considered a historic turning point, establishing the first global standard framework for sustainability disclosure, moving beyond the voluntary fragmentation of previous standards (GRI, SASB, TCFD, etc.) to a unified, comparable and directly linked reference system with financial performance.

This paper approaches the research direction of concepts - standards - practices, aiming to: (i) analyze the theoretical foundation and core content of IFRS S1 and S2; (ii) clarify the academic and practical significance of these standards in reshaping corporate disclosure behavior; (iii) assess the opportunities and challenges for Vietnamese enterprises, which are facing dual pressures: the requirement to integrate with the global value chain and the intrinsic responsibility for national sustainable development goals