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Climate change poses particularly difficult challenges for public sector institutions, because climate change impacts all sectors of the economy and society. Action to address these challenges requires long-term coordination among multiple governments and non-government entities and organizations. As the impacts of climate change increasingly affect public sector entities and society as a whole, including impacting public finances and service delivery, sustainability reporting is becoming a cornerstone of transparent and accountable governance, reflecting the growing scrutiny of how public sector institutions influence the environment and society.
The absence of standardized reporting frameworks specific to the public sector has hindered collaborative progress. Recognizing this gap, the International Public Sector Accounting Standards Board (IPSASB), with support from the World Bank, has developed and issued on January 29, 2026, the inaugural public sector standard, IPSASB SRS 1, Climate-related Disclosures. This is the first-ever public sector standard to help governments and public sector entities report climate-related risks and opportunities clearly and consistently.
It is expected that this standard will take climate reporting to a new level and will complement the reporting requirements of the Paris Agreement, which came into effect in 2024, under what is known as the Enhanced Transparency Framework (ETF). In turn, implementation of IPSASB SRS in the public sector will enable governments and public sector entities to prepare complete, consistent, and comparable sustainability information that is critical for designing evidenced based climate policies, managing climate risks, and attracting required climate finance, including foreign direct investment (FDI) and green or sustainability bonds. We invite you to join the standard launch event that will address the objectives below.
Objective
The main objectives of this event are:
- Officially launch the IPSASB SRS 1, Climate-related Disclosures.
- Enhance awareness of the purpose and value of sustainability reporting in the public sector.
- Offer space for exchange of ideas among international development community, global standard setters, and governmental officials on the main challenges and next steps for adoption and implementation of sustainability reporting in the public sector.