The International Public Sector Accounting Standards Board (IPSASB) is seeking comments on an exposure draft released Thursday that proposes additional guidance on how two previously published Recommended Practice Guidelines (RPGs) can be applied by governments and public sector entities to report on sustainability programme information.
ED 83, Reporting Sustainability Program Information — RPGs 1 and 3: Additional Non-Authoritative Guidance, aims to demonstrate how RPG 1, Reporting on the Long-Term Sustainability of an Entity's Finances, and RPG 3, Reporting Service Performance Information, can be immediately applied to report on sustainability programme information, according to a news release.
"As we explore the potential development of a public sector sustainability framework, we urge governments and jurisdictions in the interim to look to the strong foundations for reporting on programs addressing both climate change and the SDGs that the IPSASB has already provided in its RPGs," IPSASB Chair Ian Carruthers said. "This is now more explicitly addressed through the proposed additional guidance in this ED."
Additional implementation guidance is proposed, along with illustrative examples on such key topics as green bonds, carbon taxes, tax expenditures, and other programmes developed to mitigate the effects of climate change and achieve the United Nations' Sustainable Development Goals. The proposed guidance is intended to support implementation of the key areas highlighted in the recent Organisation for Economic Co-operation and Development paper Green Budgeting: A Way Forward. RPGs are intended to enhance the quality and transparency of public sector financial reporting by providing better information for public sector financial management and decision-making.
The deadline for comments is 16 January 2023.
— To comment on this article or to suggest an idea for another article, contact Kevin Brewer at Kevin.Brewer@aicpa-cima.com.