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20 Januari 2025 - SAK Update
On December 17, 2024, the Indonesian Sustainability Standards Board (Dewan Standar Keberlanjutan/DSK IAI) ratified Exposure Draft Sustainability Disclosure Standards (SPK). DE SPK consists of Statement of Sustainability Disclosure Standards 1 on General Requirements for Disclosure of Sustainability-related Financial Information (DE PSPK 1) and Statement of Sustainability Disclosure Standards 2 on Climate-related Disclosures (DE PSPK 2). DE PSPK 1 refers to IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information, while DE PSPK 2 refers to IFRS S2 – Climate-related Disclosures. IFRS S1 and IFRS S2 were part of IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB).
DE PSPK 1 and DE PSPK 2 are part of the SPK, which serve as the foundation for preparing disclosures of sustainability-related financial information. These disclosures, along with financial statements, are components of general-purpose financial reports.
DE PSPK 1 provides general provisions on the conceptual framework, general requirements, as well as considerations of uncertainty and errors. The conceptual framework explains fair presentation, the concept of materiality, the reporting entity, and connected information. The general requirements cover guidance sources, disclosure locations, reporting timelines, comparative information, and compliance statements.
Both DE PSPK 1 and DE PSPK 2 provide core content provisions on governance, strategy, risk management, and metrics and targets. DE PSPK 1 requires entities to apply these core contents to sustainability-related risks and opportunities, while DE PSPK 2 focuses on climate-related risks and opportunities.
IAI invites all stakeholders, including regulators, associations, business entities, practitioners, academics, and the general public, to provide feedback on DE PSPK 1 and DE PSPK 2. Feedback is expected to be submitted no later than March 31, 2025, via email to dsk@iaiglobal.or.id and iai-info@iaiglobal.or.id.
The Exposure Drafts are published in the Indonesian language only. Nevertheless, for the convenience of English speakers, the Technical Teams of the DSK IAI issued the summary of differences between the Exposure Drafts and the IFRS Sustainability Disclosure Standards in English language.
The summary of differences and Exposure Draft files can be downloaded from the links below.
Attached Files: