The Nigerian government has made its stance clear: IFRS S1 and S2 sustainability reporting is no longer optional. With the Financial Reporting Council (FRC) aligning Nigeria’s corporate reporting landscape with global expectations, companies are now required to adopt the International Sustainability Standards Board (ISSB) framework as the new baseline for sustainability disclosures.
This is not just a regulatory upgrade but a recalibration of corporate accountability. Businesses that once viewed ESG as a branding strategy must now embed sustainability into their financial DNA. The era of voluntary reporting is over; structured disclosure is here, and it demands rigour, transparency, and a whole-of-business approach.
Why This Matters: The Implications of Non-Compliance
IFRS S1 and S2 are designed to ensure that sustainability risks are treated with the same seriousness as financial risks. IFRS S1 focuses on general sustainability-related disclosures, while IFRS S2 dives into climate-related risks and opportunities. Together, they form a powerful tool for assessing how an organisation’s performance and prospects are shaped by ESG factors.
This signals a shift from fragmented ESG approaches to cohesive, investor-focused disclosures for Nigeria. Failing to align means more than missing a reporting deadline. It means risking investor confidence, jeopardising international partnerships, and facing potential regulatory scrutiny. In a market already under pressure from currency volatility, climate risk, and evolving compliance demands, no business can afford that.
Common Questions, Real Concerns
As momentum builds, many organisations—particularly in emerging markets—are asking:
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What exactly are we required to report under IFRS S1 and S2?
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How do we determine materiality and relevance?
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Who in our organisation should lead this?
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What if we’re already using GRI or other frameworks?
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Do we have the systems and teams in place to meet these new expectations?
These are valid concerns. And that’s precisely why clarity, education, and early action are critical.
Join the Conversation: CSR-in-Action’s Strategic Webinar
To help organisations navigate this new era of ESG disclosure, CSR-in-Action is hosting a high-impact webinar titled:
“IFRS S1 & S2 and the New Era of ESG Disclosure: What Every Business Should Know”
📅 Date: Tuesday, 17th June 2025
⏰ Time: 01:00pm (WAT)
📍 Venue: Virtual
🔗 Register Now: bit.ly/IFRS-WEBINAR
This session is designed to demystify IFRS S1 and S2, break down the technical language into strategic actions, and guide Nigerian businesses in building internal capacity for compliance. Whether you are a sustainability professional, CFO, compliance officer, or executive decision-maker, this is your opportunity to hear directly from experts and walk away with an actionable roadmap.
What You Will Gain
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Clear guidance on IFRS S1 and S2: What they mean and why they matter.
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Insights into aligning existing frameworks (GRI, TCFD, etc.) with IFRS standards.
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Practical steps for implementation, including governance, data systems, and training.
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Answers to your organisation’s specific questions during our live Q&A segment.
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A chance to explore CSR-in-Action’s IFRS-aligned training programmes.
This is a rare window of opportunity. The organisations that act now—by understanding the standards, building internal competence, and engaging stakeholders—will position themselves as leaders in responsible governance, transparency, and sustainable value creation.
Those who delay may soon find themselves outpaced by regulation and left behind by investors and global partners.
Register now and take the first step toward building credibility, resilience, and competitive advantage in a new era of ESG reporting.
🔗 bit.ly/IFRS-WEBINAR
Let CSR-in-Action be your guide in this transition.