{"id":13590,"date":"2025-12-04T18:18:13","date_gmt":"2025-12-04T10:18:13","guid":{"rendered":"https:\/\/uhy.com.my\/?page_id=13590"},"modified":"2026-01-12T18:08:07","modified_gmt":"2026-01-12T10:08:07","slug":"ifrs-s1-s2-implementation-roadmap-for-listed-issuers","status":"publish","type":"page","link":"https:\/\/uhy.com.my\/zh\/services\/esg-and-sustainability\/ifrs-s1-s2-implementation-roadmap-for-listed-issuers\/","title":{"rendered":"IFRS S1 &amp; S2: Implementation Roadmap for Listed Issuers"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"13590\" class=\"elementor elementor-13590\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6f81cb5 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"6f81cb5\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8e07115\" data-id=\"8e07115\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-910ae92 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"910ae92\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">IFRS S1 & S2 Are Coming: <br>\nA Complete Implementation Roadmap for Main and ACE Market Listed Issuers<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-faaf9ed elementor-widget elementor-widget-spacer\" data-id=\"faaf9ed\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-405640b elementor-widget elementor-widget-text-editor\" data-id=\"405640b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #005844;\"><b><span style=\"text-decoration: underline;\"><a style=\"color: #005844; text-decoration: underline;\" href=\"https:\/\/uhy.com.my\/zh\/our-leadership-team\/frank-tam\/\" target=\"_blank\" rel=\"noopener\">Frank Tam<\/a><\/span><\/b><\/span><span style=\"color: #252422;\"><span style=\"color: #005844;\">\u00a0<\/span> |\u00a0 <span style=\"color: #999999; font-size: 16px;\">December 2025<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60a6795 elementor-widget elementor-widget-heading\" data-id=\"60a6795\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Highlights<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-23c80e9 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"23c80e9\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#phased-market\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-forward\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Phased Market Implementation Timeline<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#climate-first\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-forward\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">The \"Climate-First\" Transition Strategy<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#mandatory-assurance\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-forward\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Mandatory Assurance Roadmap<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f8fec63 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"f8fec63\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-abaf53e\" data-id=\"abaf53e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15dc8ff elementor-widget elementor-widget-text-editor\" data-id=\"15dc8ff\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe launch of the National Sustainability Reporting Framework (NSRF) signals a definitive shift in corporate Malaysia\u2019s reporting landscape. While the headlines have focused on large cap companies, the framework actually sets a trajectory for all listed issuers on Bursa Malaysia.\n\nWhether you are a large conglomerate, a mid-sized Main Market player, or an ACE Market innovator, the destination is the same moving towards full adoption of the ISSB Standards (IFRS S1 &amp; IFRS S2). However, your starting line and pace of travel will differ.\n\nHere is the comprehensive guide for <span style=\"color: #43b02a;\"><b> Group 1<\/b><span style=\"color: #252422;\">,<\/span> <b>Group 2<\/b><span style=\"color: #252422;\">,<\/span><\/span> and <span style=\"color: #43b02a;\"><b>ACE Market<\/b><\/span> issuers to navigate the upcoming transition.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-0ef300c\" data-id=\"0ef300c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3c9bda3 elementor-widget elementor-widget-image\" data-id=\"3c9bda3\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"600\" src=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-1024x768.jpg\" class=\"attachment-large size-large wp-image-13609\" alt=\"\" srcset=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-1024x768.jpg 1024w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-300x225.jpg 300w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-768x576.jpg 768w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-1536x1152.jpg 1536w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-2048x1536.jpg 2048w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-16x12.jpg 16w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c6cf8cb elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"c6cf8cb\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7dd44b4\" data-id=\"7dd44b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c8d636f elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"c8d636f\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-aba4ab2\" data-id=\"aba4ab2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eb18a89 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"eb18a89\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Know Your Classification<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3de4030 elementor-widget elementor-widget-text-editor\" data-id=\"3de4030\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The implementation timeline is tiered based on market capitalisation and market board.<\/p><p>Determine which category your company falls into:<\/p><ul><li><strong>Group 1:<\/strong> Main Market issuers with a market capitalisation of <strong>RM2 billion and above<\/strong> (as at 31 December 2024 or upon admission).<\/li><li><strong>Group 2:<\/strong> All other <strong>Main Market<\/strong> issuers.<\/li><li><strong>Group 3 (ACE Market):<\/strong> All <strong>ACE Market<\/strong> listed issuers.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-ba3cdfd elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"ba3cdfd\" data-element_type=\"section\" id=\"phased-market\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-27472dc\" data-id=\"27472dc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cabc5aa elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"cabc5aa\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">The Master Timeline: When Do You Start?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b46c9ab elementor-widget elementor-widget-text-editor\" data-id=\"b46c9ab\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Adoption is not immediate for everyone. The framework utilises a phased approach, meaning smaller companies have a longer runway to prepare data and systems.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d3fb95 eael-table-align-center eael-dt-th-align-left elementor-widget elementor-widget-eael-data-table\" data-id=\"4d3fb95\" data-element_type=\"widget\" data-widget_type=\"eael-data-table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\n\t\t\t@media (max-width: 767px) {\n\t\t\t   #eael-data-table-wrapper-4d3fb95.custom-responsive-option-enable .eael-data-table thead {\n                    display: none;\n               }\n               #eael-data-table-wrapper-4d3fb95.custom-responsive-option-enable .eael-data-table tbody tr td {\n                    float: none;\n                    clear: left;\n                    width: 100%;\n                    text-align: left;\n                    display: flex;\n                    align-items: center;\n                }\n\t\t\t}\n\t\t\t<\/style>\t\t<div class=\"eael-data-table-wrap custom-responsive-option-enable\" data-table_id=\"4d3fb95\" id=\"eael-data-table-wrapper-4d3fb95\" data-custom_responsive=\"true\">\n\t\t\t<table class=\"tablesorter eael-data-table center\" id=\"eael-data-table-4d3fb95\">\n\t\t\t    <thead>\n\t\t\t        <tr class=\"table-header\">\n\t\t\t\t\t\t\t\t\t            <th class=\"\" id=\"\" colspan=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"data-table-header-text\">Category<\/span><\/th>\n\t\t\t        \t\t\t\t            <th class=\"\" id=\"\" colspan=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"data-table-header-text\">First Financial Year Ending (FYE) for implementation of NSRF<\/span><\/th>\n\t\t\t        \t\t\t\t        <\/tr>\n\t\t\t    <\/thead>\n\t\t\t  \t<tbody>\n\t\t\t\t\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<b>Group 1\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tFYE ending on or after 31 December 2025\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t        \t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<b>Group 2\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tFYE ending on or after 31 December 2026\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t        \t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<b>ACE Market\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tACE Market\tFYE ending on or after 31 December 2027\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t        \t\t\t    <\/tbody>\n\t\t\t<\/table>\n\t\t<\/div>\n\t  \t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-771a928 elementor-widget elementor-widget-text-editor\" data-id=\"771a928\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Note on Pre-Transition Reporting:<\/strong> Until your specific effective date arrives, you must continue reporting under the existing Bursa Malaysia sustainability framework.<\/p><p><strong>Main Market (Group 2):<\/strong> Continue disclosing the &#8220;Common Sustainability Matters&#8221; and 3 years of data through FYE 2025.<\/p><p><strong>ACE Market:<\/strong> Maintain current disclosures through FYE 2026. Notably, the requirement to provide TCFD-aligned disclosures (originally planned for 2027) has been <strong>disapplied<\/strong> to allow you to focus directly on preparing for IFRS S2.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2491950 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"2491950\" data-element_type=\"section\" id=\"climate-first\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-31544b4\" data-id=\"31544b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8244172 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"8244172\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">The \"Climate-First\" Transition Strategy<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fa5d209 elementor-widget elementor-widget-text-editor\" data-id=\"fa5d209\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Recognising that full IFRS compliance is a heavy lift, the NSRF allows all issuers to adopt a <strong>&#8220;Climate-First&#8221; approach<\/strong> during their initial years of adoption.<\/p><p>Regardless of whether you are Group 1, 2, or ACE, when you hit your effective date, you can utilise the following <b>Additional Transition Reliefs (ATRs)<\/b>:<\/p><ol><li><span style=\"color: #43b02a;\"><b>Climate Only (IFRS S2):<\/b><\/span> You are permitted to report <strong>only<\/strong> on climate-related risks and opportunities (IFRS S2). You do not need to apply IFRS S1 to non-climate matters (like social or governance issues) during the relief period;<\/li><li><span style=\"color: #43b02a;\"><b>Principal Segments:<\/b><\/span> You may limit your climate disclosures to your <strong>principal business segments<\/strong>, rather than covering all segments immediately,<\/li><li><span style=\"color: #43b02a;\"><b>Scope 3 Deferral:<\/b><\/span> You are <strong>not required<\/strong> to disclose Scope 3 (value chain) GHG emissions yet, unless mandated by other regulators.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-417e24a elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"417e24a\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4ce10a2\" data-id=\"4ce10a2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7fee36e elementor-widget elementor-widget-heading\" data-id=\"7fee36e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">How long do these reliefs last?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29a3ea0 elementor-widget elementor-widget-text-editor\" data-id=\"29a3ea0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>Main Market (Groups 1 &amp; 2): Available for the first 2 financial years of adoption.<\/li><li>ACE Market: Available for the first 3 financial years of adoption.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-8136d2e elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"8136d2e\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-96f107b\" data-id=\"96f107b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c02ee8d elementor-widget elementor-widget-image\" data-id=\"c02ee8d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" data-src=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-1024x683.jpg\" class=\"attachment-large size-large wp-image-13597 lazyload\" alt=\"\" data-srcset=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-1024x683.jpg 1024w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-300x200.jpg 300w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-768x512.jpg 768w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-1536x1024.jpg 1536w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-2048x1365.jpg 2048w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/IFRS-02-18x12.jpg 18w\" data-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 800px; --smush-placeholder-aspect-ratio: 800\/534;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a069cb8\" data-id=\"a069cb8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-82aa258 elementor-widget elementor-widget-heading\" data-id=\"82aa258\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">What happens to non-climate sustainability matters?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75a8b34 elementor-widget elementor-widget-text-editor\" data-id=\"75a8b34\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A common question is \u201c<em>If we use the relief to report only on climate (IFRS S2), do we ignore other sustainability issues?\u201d<\/em><\/p><p><span style=\"color: #43b02a;\"><b>No.<\/b><\/span> While you transition to IFRS S2 for climate, you must continue to report on other material sustainability matters (e.g., labor practices, anti-corruption, diversity).<\/p><p>However, for FYE 2025, these non-climate matters will continue to be reported under the existing Bursa Malaysia &#8220;Common Sustainability Matters&#8221; framework, not yet under the full IFRS S1 methodology.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-0d3a00c elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"0d3a00c\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-a117f2c\" data-id=\"a117f2c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ec58fe8 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"ec58fe8\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Data Readiness<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b15701f elementor-widget elementor-widget-text-editor\" data-id=\"b15701f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><span style=\"color: #43b20a;\"><b>Financial Effects:<\/b><\/span> You must assess the financial effects of climate risks. However, the framework allows the use of &#8220;reasonable and supportable information available without undue cost or effort.&#8221; If your company lacks the necessary skills or capabilities, qualitative approaches (descriptive) are permitted over quantitative ones during this phase. <em>(Application of Proportionality Mechanisms under ISSB standards)<\/em><\/li><li><span style=\"color: #43b20a;\"><b>Reporting Boundary:<\/b><\/span> Ensure your sustainability data shares the same reporting boundary as your financial statements. This includes consolidated group data.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e20e432 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"e20e432\" data-element_type=\"section\" id=\"mandatory-assurance\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-ca03b8f\" data-id=\"ca03b8f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d5db36 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"9d5db36\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Moving Toward Assurance<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15dacc8 elementor-widget elementor-widget-text-editor\" data-id=\"15dacc8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Trust in data is as important as the data itself. The NSRF sets out a roadmap for mandatory <strong>reasonable assurance<\/strong> on Scope 1 and Scope 2 GHG emissions. This will move sustainability reporting closer to the rigour of financial auditing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5daa8e9 eael-table-align-center eael-dt-th-align-left elementor-widget elementor-widget-eael-data-table\" data-id=\"5daa8e9\" data-element_type=\"widget\" data-widget_type=\"eael-data-table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\n\t\t\t@media (max-width: 767px) {\n\t\t\t   #eael-data-table-wrapper-5daa8e9.custom-responsive-option-enable .eael-data-table thead {\n                    display: none;\n               }\n               #eael-data-table-wrapper-5daa8e9.custom-responsive-option-enable .eael-data-table tbody tr td {\n                    float: none;\n                    clear: left;\n                    width: 100%;\n                    text-align: left;\n                    display: flex;\n                    align-items: center;\n                }\n\t\t\t}\n\t\t\t<\/style>\t\t<div class=\"eael-data-table-wrap custom-responsive-option-enable\" data-table_id=\"5daa8e9\" id=\"eael-data-table-wrapper-5daa8e9\" data-custom_responsive=\"true\">\n\t\t\t<table class=\"tablesorter eael-data-table center\" id=\"eael-data-table-5daa8e9\">\n\t\t\t    <thead>\n\t\t\t        <tr class=\"table-header\">\n\t\t\t\t\t\t\t\t\t            <th class=\"\" id=\"\" colspan=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"data-table-header-text\">Category<\/span><\/th>\n\t\t\t        \t\t\t\t            <th class=\"\" id=\"\" colspan=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"data-table-header-text\">Category\tMandatory Reasonable Assurance Begins<\/span><\/th>\n\t\t\t        \t\t\t\t        <\/tr>\n\t\t\t    <\/thead>\n\t\t\t  \t<tbody>\n\t\t\t\t\t\t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<b>Group 1\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tFYE ending on or after 31 December 2027\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t        \t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<b>Group 2\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tGroup 2\tFYE ending on or after 31 December 2028\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t        \t\t\t\t\t\t<tr>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<b>ACE Market\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t<td colspan=\"\" rowspan=\"\" class=\"\" id=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"td-content-wrapper\"><div class=\"td-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\tACE Market FYE ending on or after 31 December 2029\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t        \t\t\t    <\/tbody>\n\t\t\t<\/table>\n\t\t<\/div>\n\t  \t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c6719e elementor-widget elementor-widget-text-editor\" data-id=\"4c6719e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>(Note: These dates are subject to final confirmation following further consultation by the ACSR through a dedicated sub-committee led by AOB.)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-b71172c elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"b71172c\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-27fb53e\" data-id=\"27fb53e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-25f8736 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"25f8736\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Actionable Steps for All Issuers<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e5192d elementor-widget elementor-widget-text-editor\" data-id=\"6e5192d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Even if you are in Group 2 or the ACE Market with years to spare, the complexity of IFRS S2 requires early action.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cf6b9a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"cf6b9a0\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-c4851e5\" data-id=\"c4851e5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9515abc elementor-widget elementor-widget-spacer\" data-id=\"9515abc\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-862312c elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"862312c\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-9475a3d\" data-id=\"9475a3d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-acd6836 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"acd6836\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">For Group 2 (Deadline: Dec 2026):<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e377f97 elementor-widget elementor-widget-text-editor\" data-id=\"e377f97\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>You should use 2025 to perform a &#8220;dry run.&#8221; Assess your data gaps against IFRS S2 requirements. Since TCFD-aligned disclosures are disapplied, pivot your resources immediately toward IFRS S2 gap analysis.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-abcb0b5 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"abcb0b5\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">For ACE Market (Deadline: Dec 2027):<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9aa95a elementor-widget elementor-widget-text-editor\" data-id=\"d9aa95a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>While you have the longest runway, you often have fewer resources. Use the <strong>PACE<\/strong> (Policy, Assumptions, Calculators, Education) resources provided by the Securities Commission to upskill your team without incurring high consultancy costs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f75003 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1f75003\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Governance Check:<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eca3f27 elementor-widget elementor-widget-text-editor\" data-id=\"eca3f27\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Does your Board understand these timelines? The new framework requires a cross-functional approach involving finance, risk, and sustainability teams.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f390d4 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"8f390d4\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">For Group 1<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4ed2744 elementor-widget elementor-widget-text-editor\" data-id=\"4ed2744\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The FYE 2025 deadline represents a significant step up in compliance for Malaysia\u2019s large listed issuers (Group 1). By leveraging the available transition reliefs specifically the &#8220;climate-first&#8221; approach, Group 1 companies can manage this transition effectively focusing resources on building robust climate data foundations before expanding to full IFRS S1 adoption in 2027.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-92120cb elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"92120cb\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-03cedec\" data-id=\"03cedec\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9bbc881 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"9bbc881\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInLeft&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Overview of Disclosure Requirements of Main Market and ACE Market Listed Issuers under amended Bursa Malaysia\u2019s Listing Requirements<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-77eff7d elementor-widget elementor-widget-text-editor\" data-id=\"77eff7d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>To help visualise the timeline, the following tables summarise the transition from the existing framework to full IFRS S1 &amp; S2 adoption for different groups.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c9be0a elementor-widget elementor-widget-heading\" data-id=\"7c9be0a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">For Main Market<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f4948ec elementor-widget elementor-widget-text-editor\" data-id=\"f4948ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Implementation is split into two (2) groups based on market capitalisation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18c04d7 elementor-widget elementor-widget-image\" data-id=\"18c04d7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"2560\" height=\"1440\" data-src=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-scaled.png\" class=\"attachment-full size-full wp-image-13600 lazyload\" alt=\"\" data-srcset=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-scaled.png 2560w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-300x169.png 300w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-1024x576.png 1024w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-768x432.png 768w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-1536x864.png 1536w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-2048x1152.png 2048w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_01-18x10.png 18w\" data-sizes=\"(max-width: 2560px) 100vw, 2560px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2560px; --smush-placeholder-aspect-ratio: 2560\/1440;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0a7d6a elementor-widget elementor-widget-heading\" data-id=\"c0a7d6a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">For ACE Market<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1872567 elementor-widget elementor-widget-text-editor\" data-id=\"1872567\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>ACE Market issuers have a longer runway maintaining the current &#8220;Common Sustainability Matters&#8221; framework through FYE 2026.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b12babf elementor-widget elementor-widget-image\" data-id=\"b12babf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"2560\" height=\"1108\" data-src=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-scaled.png\" class=\"attachment-full size-full wp-image-13601 lazyload\" alt=\"\" data-srcset=\"https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-scaled.png 2560w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-300x130.png 300w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-1024x443.png 1024w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-768x332.png 768w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-1536x665.png 1536w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-2048x886.png 2048w, https:\/\/uhy.com.my\/wp-content\/uploads\/2025\/12\/Table_02-18x8.png 18w\" data-sizes=\"(max-width: 2560px) 100vw, 2560px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 2560px; --smush-placeholder-aspect-ratio: 2560\/1108;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>IFRS S1 &#038; S2 Are Coming: A Complete Implementation Roadmap for Main and ACE Market Listed Issuers Frank Tam\u00a0 |\u00a0 December 2025 Highlights Phased Market Implementation Timeline The &#8220;Climate-First&#8221; Transition Strategy Mandatory Assurance Roadmap The launch of the National Sustainability Reporting Framework (NSRF) signals a definitive shift in corporate Malaysia\u2019s reporting landscape. While the headlines have focused on large cap companies, the framework actually sets a trajectory for all listed issuers on Bursa Malaysia. Whether you are a large conglomerate, a mid-sized Main Market player, or an ACE Market innovator, the destination is the same moving towards full adoption of the ISSB Standards (IFRS S1 &amp; IFRS S2). However, your starting line and pace of travel will differ. Here is the comprehensive guide for Group 1, Group 2, and ACE Market issuers to navigate the upcoming transition. Know Your Classification The implementation timeline is tiered based on market capitalisation and market board. Determine which category your company falls into: Group 1: Main Market issuers with a market capitalisation of RM2 billion and above (as at 31 December 2024 or upon admission). Group 2: All other Main Market issuers. Group 3 (ACE Market): All ACE Market listed issuers. The Master Timeline: When Do You Start? Adoption is not immediate for everyone. The framework utilises a phased approach, meaning smaller companies have a longer runway to prepare data and systems. Category First Financial Year Ending (FYE) for implementation of NSRF Group 1 FYE ending on or after 31 December 2025 Group 2 FYE ending on or after 31 December 2026 ACE Market ACE Market FYE ending on or after 31 December 2027 Note on Pre-Transition Reporting: Until your specific effective date arrives, you must continue reporting under the existing Bursa Malaysia sustainability framework. Main Market (Group 2): Continue disclosing the &#8220;Common Sustainability Matters&#8221; and 3 years of data through FYE 2025. ACE Market: Maintain current disclosures through FYE 2026. Notably, the requirement to provide TCFD-aligned disclosures (originally planned for 2027) has been disapplied to allow you to focus directly on preparing for IFRS S2. The &#8220;Climate-First&#8221; Transition Strategy Recognising that full IFRS compliance is a heavy lift, the NSRF allows all issuers to adopt a &#8220;Climate-First&#8221; approach during their initial years of adoption. Regardless of whether you are Group 1, 2, or ACE, when you hit your effective date, you can utilise the following Additional Transition Reliefs (ATRs): Climate Only (IFRS S2): You are permitted to report only on climate-related risks and opportunities (IFRS S2). You do not need to apply IFRS S1 to non-climate matters (like social or governance issues) during the relief period; Principal Segments: You may limit your climate disclosures to your principal business segments, rather than covering all segments immediately, Scope 3 Deferral: You are not required to disclose Scope 3 (value chain) GHG emissions yet, unless mandated by other regulators. How long do these reliefs last? Main Market (Groups 1 &amp; 2): Available for the first 2 financial years of adoption. ACE Market: Available for the first 3 financial years of adoption. What happens to non-climate sustainability matters? A common question is \u201cIf we use the relief to report only on climate (IFRS S2), do we ignore other sustainability issues?\u201d No. While you transition to IFRS S2 for climate, you must continue to report on other material sustainability matters (e.g., labor practices, anti-corruption, diversity). However, for FYE 2025, these non-climate matters will continue to be reported under the existing Bursa Malaysia &#8220;Common Sustainability Matters&#8221; framework, not yet under the full IFRS S1 methodology. Data Readiness Financial Effects: You must assess the financial effects of climate risks. However, the framework allows the use of &#8220;reasonable and supportable information available without undue cost or effort.&#8221; If your company lacks the necessary skills or capabilities, qualitative approaches (descriptive) are permitted over quantitative ones during this phase. (Application of Proportionality Mechanisms under ISSB standards) Reporting Boundary: Ensure your sustainability data shares the same reporting boundary as your financial statements. This includes consolidated group data. Moving Toward Assurance Trust in data is as important as the data itself. The NSRF sets out a roadmap for mandatory reasonable assurance on Scope 1 and Scope 2 GHG emissions. This will move sustainability reporting closer to the rigour of financial auditing. Category Category Mandatory Reasonable Assurance Begins Group 1 FYE ending on or after 31 December 2027 Group 2 Group 2 FYE ending on or after 31 December 2028 ACE Market ACE Market FYE ending on or after 31 December 2029 (Note: These dates are subject to final confirmation following further consultation by the ACSR through a dedicated sub-committee led by AOB.) Actionable Steps for All Issuers Even if you are in Group 2 or the ACE Market with years to spare, the complexity of IFRS S2 requires early action. For Group 2 (Deadline: Dec 2026): You should use 2025 to perform a &#8220;dry run.&#8221; Assess your data gaps against IFRS S2 requirements. Since TCFD-aligned disclosures are disapplied, pivot your resources immediately toward IFRS S2 gap analysis. For ACE Market (Deadline: Dec 2027): While you have the longest runway, you often have fewer resources. Use the PACE (Policy, Assumptions, Calculators, Education) resources provided by the Securities Commission to upskill your team without incurring high consultancy costs. Governance Check: Does your Board understand these timelines? The new framework requires a cross-functional approach involving finance, risk, and sustainability teams. For Group 1 The FYE 2025 deadline represents a significant step up in compliance for Malaysia\u2019s large listed issuers (Group 1). By leveraging the available transition reliefs specifically the &#8220;climate-first&#8221; approach, Group 1 companies can manage this transition effectively focusing resources on building robust climate data foundations before expanding to full IFRS S1 adoption in 2027. Overview of Disclosure Requirements of Main Market and ACE Market Listed Issuers under amended Bursa Malaysia\u2019s Listing Requirements To help visualise the timeline, the following tables summarise the transition from the existing framework to full IFRS S1 &amp; S2 adoption for different groups. For Main Market Implementation is split into two<\/p>","protected":false},"author":1,"featured_media":0,"parent":13179,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-13590","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IFRS S1 &amp; S2: Implementation Roadmap for Listed Issuers | UHY Malaysia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uhy.com.my\/zh\/services\/esg-and-sustainability\/ifrs-s1-s2-implementation-roadmap-for-listed-issuers\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFRS S1 &amp; S2: Implementation Roadmap for Listed Issuers | UHY Malaysia\" \/>\n<meta property=\"og:description\" content=\"IFRS S1 &#038; S2 Are Coming: A Complete Implementation Roadmap for Main and ACE Market Listed Issuers Frank Tam\u00a0 |\u00a0 December 2025 Highlights Phased Market Implementation Timeline The &#8220;Climate-First&#8221; Transition Strategy Mandatory Assurance Roadmap The launch of the National Sustainability Reporting Framework (NSRF) signals a definitive shift in corporate Malaysia\u2019s reporting landscape. While the headlines have focused on large cap companies, the framework actually sets a trajectory for all listed issuers on Bursa Malaysia. Whether you are a large conglomerate, a mid-sized Main Market player, or an ACE Market innovator, the destination is the same moving towards full adoption of the ISSB Standards (IFRS S1 &amp; IFRS S2). However, your starting line and pace of travel will differ. Here is the comprehensive guide for Group 1, Group 2, and ACE Market issuers to navigate the upcoming transition. Know Your Classification The implementation timeline is tiered based on market capitalisation and market board. Determine which category your company falls into: Group 1: Main Market issuers with a market capitalisation of RM2 billion and above (as at 31 December 2024 or upon admission). Group 2: All other Main Market issuers. Group 3 (ACE Market): All ACE Market listed issuers. The Master Timeline: When Do You Start? Adoption is not immediate for everyone. The framework utilises a phased approach, meaning smaller companies have a longer runway to prepare data and systems. Category First Financial Year Ending (FYE) for implementation of NSRF Group 1 FYE ending on or after 31 December 2025 Group 2 FYE ending on or after 31 December 2026 ACE Market ACE Market FYE ending on or after 31 December 2027 Note on Pre-Transition Reporting: Until your specific effective date arrives, you must continue reporting under the existing Bursa Malaysia sustainability framework. Main Market (Group 2): Continue disclosing the &#8220;Common Sustainability Matters&#8221; and 3 years of data through FYE 2025. ACE Market: Maintain current disclosures through FYE 2026. Notably, the requirement to provide TCFD-aligned disclosures (originally planned for 2027) has been disapplied to allow you to focus directly on preparing for IFRS S2. The &#8220;Climate-First&#8221; Transition Strategy Recognising that full IFRS compliance is a heavy lift, the NSRF allows all issuers to adopt a &#8220;Climate-First&#8221; approach during their initial years of adoption. Regardless of whether you are Group 1, 2, or ACE, when you hit your effective date, you can utilise the following Additional Transition Reliefs (ATRs): Climate Only (IFRS S2): You are permitted to report only on climate-related risks and opportunities (IFRS S2). You do not need to apply IFRS S1 to non-climate matters (like social or governance issues) during the relief period; Principal Segments: You may limit your climate disclosures to your principal business segments, rather than covering all segments immediately, Scope 3 Deferral: You are not required to disclose Scope 3 (value chain) GHG emissions yet, unless mandated by other regulators. How long do these reliefs last? Main Market (Groups 1 &amp; 2): Available for the first 2 financial years of adoption. ACE Market: Available for the first 3 financial years of adoption. What happens to non-climate sustainability matters? A common question is \u201cIf we use the relief to report only on climate (IFRS S2), do we ignore other sustainability issues?\u201d No. While you transition to IFRS S2 for climate, you must continue to report on other material sustainability matters (e.g., labor practices, anti-corruption, diversity). However, for FYE 2025, these non-climate matters will continue to be reported under the existing Bursa Malaysia &#8220;Common Sustainability Matters&#8221; framework, not yet under the full IFRS S1 methodology. Data Readiness Financial Effects: You must assess the financial effects of climate risks. However, the framework allows the use of &#8220;reasonable and supportable information available without undue cost or effort.&#8221; If your company lacks the necessary skills or capabilities, qualitative approaches (descriptive) are permitted over quantitative ones during this phase. (Application of Proportionality Mechanisms under ISSB standards) Reporting Boundary: Ensure your sustainability data shares the same reporting boundary as your financial statements. This includes consolidated group data. Moving Toward Assurance Trust in data is as important as the data itself. The NSRF sets out a roadmap for mandatory reasonable assurance on Scope 1 and Scope 2 GHG emissions. This will move sustainability reporting closer to the rigour of financial auditing. Category Category Mandatory Reasonable Assurance Begins Group 1 FYE ending on or after 31 December 2027 Group 2 Group 2 FYE ending on or after 31 December 2028 ACE Market ACE Market FYE ending on or after 31 December 2029 (Note: These dates are subject to final confirmation following further consultation by the ACSR through a dedicated sub-committee led by AOB.) Actionable Steps for All Issuers Even if you are in Group 2 or the ACE Market with years to spare, the complexity of IFRS S2 requires early action. For Group 2 (Deadline: Dec 2026): You should use 2025 to perform a &#8220;dry run.&#8221; Assess your data gaps against IFRS S2 requirements. Since TCFD-aligned disclosures are disapplied, pivot your resources immediately toward IFRS S2 gap analysis. For ACE Market (Deadline: Dec 2027): While you have the longest runway, you often have fewer resources. Use the PACE (Policy, Assumptions, Calculators, Education) resources provided by the Securities Commission to upskill your team without incurring high consultancy costs. Governance Check: Does your Board understand these timelines? The new framework requires a cross-functional approach involving finance, risk, and sustainability teams. For Group 1 The FYE 2025 deadline represents a significant step up in compliance for Malaysia\u2019s large listed issuers (Group 1). By leveraging the available transition reliefs specifically the &#8220;climate-first&#8221; approach, Group 1 companies can manage this transition effectively focusing resources on building robust climate data foundations before expanding to full IFRS S1 adoption in 2027. Overview of Disclosure Requirements of Main Market and ACE Market Listed Issuers under amended Bursa Malaysia\u2019s Listing Requirements To help visualise the timeline, the following tables summarise the transition from the existing framework to full IFRS S1 &amp; S2 adoption for different groups. 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S2: Implementation Roadmap for Listed Issuers | UHY Malaysia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uhy.com.my\/zh\/services\/esg-and-sustainability\/ifrs-s1-s2-implementation-roadmap-for-listed-issuers\/","og_locale":"zh_CN","og_type":"article","og_title":"IFRS S1 &amp; S2: Implementation Roadmap for Listed Issuers | UHY Malaysia","og_description":"IFRS S1 &#038; S2 Are Coming: A Complete Implementation Roadmap for Main and ACE Market Listed Issuers Frank Tam\u00a0 |\u00a0 December 2025 Highlights Phased Market Implementation Timeline The &#8220;Climate-First&#8221; Transition Strategy Mandatory Assurance Roadmap The launch of the National Sustainability Reporting Framework (NSRF) signals a definitive shift in corporate Malaysia\u2019s reporting landscape. While the headlines have focused on large cap companies, the framework actually sets a trajectory for all listed issuers on Bursa Malaysia. Whether you are a large conglomerate, a mid-sized Main Market player, or an ACE Market innovator, the destination is the same moving towards full adoption of the ISSB Standards (IFRS S1 &amp; IFRS S2). However, your starting line and pace of travel will differ. Here is the comprehensive guide for Group 1, Group 2, and ACE Market issuers to navigate the upcoming transition. Know Your Classification The implementation timeline is tiered based on market capitalisation and market board. Determine which category your company falls into: Group 1: Main Market issuers with a market capitalisation of RM2 billion and above (as at 31 December 2024 or upon admission). Group 2: All other Main Market issuers. Group 3 (ACE Market): All ACE Market listed issuers. The Master Timeline: When Do You Start? Adoption is not immediate for everyone. The framework utilises a phased approach, meaning smaller companies have a longer runway to prepare data and systems. Category First Financial Year Ending (FYE) for implementation of NSRF Group 1 FYE ending on or after 31 December 2025 Group 2 FYE ending on or after 31 December 2026 ACE Market ACE Market FYE ending on or after 31 December 2027 Note on Pre-Transition Reporting: Until your specific effective date arrives, you must continue reporting under the existing Bursa Malaysia sustainability framework. Main Market (Group 2): Continue disclosing the &#8220;Common Sustainability Matters&#8221; and 3 years of data through FYE 2025. ACE Market: Maintain current disclosures through FYE 2026. Notably, the requirement to provide TCFD-aligned disclosures (originally planned for 2027) has been disapplied to allow you to focus directly on preparing for IFRS S2. The &#8220;Climate-First&#8221; Transition Strategy Recognising that full IFRS compliance is a heavy lift, the NSRF allows all issuers to adopt a &#8220;Climate-First&#8221; approach during their initial years of adoption. Regardless of whether you are Group 1, 2, or ACE, when you hit your effective date, you can utilise the following Additional Transition Reliefs (ATRs): Climate Only (IFRS S2): You are permitted to report only on climate-related risks and opportunities (IFRS S2). You do not need to apply IFRS S1 to non-climate matters (like social or governance issues) during the relief period; Principal Segments: You may limit your climate disclosures to your principal business segments, rather than covering all segments immediately, Scope 3 Deferral: You are not required to disclose Scope 3 (value chain) GHG emissions yet, unless mandated by other regulators. How long do these reliefs last? Main Market (Groups 1 &amp; 2): Available for the first 2 financial years of adoption. ACE Market: Available for the first 3 financial years of adoption. What happens to non-climate sustainability matters? A common question is \u201cIf we use the relief to report only on climate (IFRS S2), do we ignore other sustainability issues?\u201d No. While you transition to IFRS S2 for climate, you must continue to report on other material sustainability matters (e.g., labor practices, anti-corruption, diversity). However, for FYE 2025, these non-climate matters will continue to be reported under the existing Bursa Malaysia &#8220;Common Sustainability Matters&#8221; framework, not yet under the full IFRS S1 methodology. Data Readiness Financial Effects: You must assess the financial effects of climate risks. However, the framework allows the use of &#8220;reasonable and supportable information available without undue cost or effort.&#8221; If your company lacks the necessary skills or capabilities, qualitative approaches (descriptive) are permitted over quantitative ones during this phase. (Application of Proportionality Mechanisms under ISSB standards) Reporting Boundary: Ensure your sustainability data shares the same reporting boundary as your financial statements. This includes consolidated group data. Moving Toward Assurance Trust in data is as important as the data itself. The NSRF sets out a roadmap for mandatory reasonable assurance on Scope 1 and Scope 2 GHG emissions. This will move sustainability reporting closer to the rigour of financial auditing. Category Category Mandatory Reasonable Assurance Begins Group 1 FYE ending on or after 31 December 2027 Group 2 Group 2 FYE ending on or after 31 December 2028 ACE Market ACE Market FYE ending on or after 31 December 2029 (Note: These dates are subject to final confirmation following further consultation by the ACSR through a dedicated sub-committee led by AOB.) Actionable Steps for All Issuers Even if you are in Group 2 or the ACE Market with years to spare, the complexity of IFRS S2 requires early action. For Group 2 (Deadline: Dec 2026): You should use 2025 to perform a &#8220;dry run.&#8221; Assess your data gaps against IFRS S2 requirements. Since TCFD-aligned disclosures are disapplied, pivot your resources immediately toward IFRS S2 gap analysis. For ACE Market (Deadline: Dec 2027): While you have the longest runway, you often have fewer resources. Use the PACE (Policy, Assumptions, Calculators, Education) resources provided by the Securities Commission to upskill your team without incurring high consultancy costs. Governance Check: Does your Board understand these timelines? The new framework requires a cross-functional approach involving finance, risk, and sustainability teams. For Group 1 The FYE 2025 deadline represents a significant step up in compliance for Malaysia\u2019s large listed issuers (Group 1). By leveraging the available transition reliefs specifically the &#8220;climate-first&#8221; approach, Group 1 companies can manage this transition effectively focusing resources on building robust climate data foundations before expanding to full IFRS S1 adoption in 2027. Overview of Disclosure Requirements of Main Market and ACE Market Listed Issuers under amended Bursa Malaysia\u2019s Listing Requirements To help visualise the timeline, the following tables summarise the transition from the existing framework to full IFRS S1 &amp; S2 adoption for different groups. 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