Malaysia National Sustainability Reporting Framework (NSRF) 2024 S1S2: Apply IFRS S1 and IFRS S2 as issued by the ISSB as the baseline standards

What does S1S2 require?

The NSRF requires applicable entities to use the two ISSB standards, IFRS S1 (the general requirements standard for sustainability-related financial disclosure) and IFRS S2 (the climate standard), as the baseline for their sustainability reporting, following the standards closely and using the reliefs the ISSB provides (Executive Summary and Section I). Any future ISSB standards will be adopted in Malaysia only after due process and consultation. Once the legislative amendments are made, the standards will be issued domestically by the MASB on the ISSB basis.