The Colombo Stock Exchange (CSE) hosted a free online workshop on the implementation of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards on Tuesday, 23rd June 2026, which saw a strong turnout of more than 410 participants.
The workshop was conducted in collaboration with the United Nations Sustainable Stock Exchange Initiative (UN SSE), the International Finance Corporation (IFC), and International Financial Reporting Standards (IFRS) Foundation. The International Sustainability Standards Board (ISSB) Sustainability Standards, first released in June 2023, consist of IFRS S1, “General Requirements for Sustainability-related Financial Information”, and IFRS S2, “Climate-related Disclosures”, which set the new global standard for corporate sustainability-related disclosure to capital markets. The workshop was open to the public, with participants registering via the CSE website.
The free online workshop offered participants a unique opportunity to engage directly with experts from the IFRS Foundation and UN SSE who were involved in developing the sustainability disclosure standards. The session was interactive and included a Q&A segment, providing a high-level overview of the standards. The forum served as an ideal platform for corporates, enabling report preparers, organisational oversight personnel, and staff beyond the reporting function to become familiar with the ISSB Standards.
Remarking upon the event in his opening address, CEO of the CSE, Mr Rajeeva Bandaranaike, remarked upon the significance of Sri Lanka’s early adoption of the ISSB Standards: “Through the IFRS S1 and S2, we can establish clear requirements for how companies identify, measure, and communicate sustainability-related risks and opportunities. The IFRS S1 and S2 standards aim to close the information gap between companies and the capital market. In doing so we can enable greater direct investment towards more resilient and sustainable enterprises.”
He further remarked on the adoption and implementation of the ISSB Standards complementing CSE’s drive towards a green economy for Sri Lanka, adding “The adoption of the IFRS Sustainability Disclosure Standard notwithstanding, the CSE in collaboration with its partners, has over the past few years successfully integrated introduced and upheld a culture of sustainable finance in the Sri Lankan capital markets, setting new investor expectations and issuer standards. Since the 2024 GSS+ bond framework was introduced, LKR 82 billion has been raised.”
Participants took part in modules focused on governance and leadership, strategy development and implementation, risk management, accounting and finance, and sustainability and climate strategy. They gained practical insights on building upon existing sustainability-related disclosure resources, applying the ISSB Standards in alignment with the global baseline in accordance with sectoral and regulatory requirements, and preparing reports on sustainability-linked disclosures.
Sri Lanka was among the first batch of 17 jurisdictions to adopt the ISSB Standards by issuing localised versions of these standards, designated as SLFRS S1 and SLFRS S2, which became effective from January 1, 2025. The phased adoption of the ISSB Standards between 2025 and 2030 ensures inclusiveness by tailoring requirements based on the size of businesses. In 2025, the first 100 listed entities on the CSE, based on market capitalisation as of January 1, 2025, were mandatorily required to comply with the new sustainability standards. This requirement was extended to all listed entities on the Main Board of the CSE for financial years beginning on or after January 1, 2026. By 2027, all CSE-listed entities, except those on the Empower Board, will be required to comply with the standards for financial years beginning on or after January 1, 2027.
The training content was developed collaboratively by the UN SSE, IFRS Foundation, and IFC through its integrated ESG program, implemented in partnership with the State Secretariat for Economic Affairs of Switzerland (SECO).
