The Chilean Financial Market Commission (CMF) has published a consultation on using IFRS S1 and IFRS S2 as reference standards for requiring sustainability-related information. The consultation closes on 27 September 2024.
The proposed requirements would amend an existing CMF regulation from November 2021, which requires disclosure of integrated sustainability and corporate governance aspects in annual reports of issuers of publicly offered securities and other supervised entities. The CMF notes in the press release that the regulation is already based on the same principles as IFRS S1 and IFRS S2 and therefore, the proposals would not significantly change the existing regulation. Instead, it would offer more clarity in many areas.
The amended regulation would come into effect for the financial year 2026, which is reported on in 2027.
Please click to access the consultation via the press release (in Spanish language only) on the CMF website.