IFRS S2 is a global climate reporting standard developed by the ISSB. It sets requirements for disclosing physical and transition climate risks, scenario analysis, financial impacts, and climate-related metrics across value chains.
You're working with an insurance firm preparing its first ISSB-aligned climate disclosures. IFRS S2 requires them to assess flood and heat risk at asset level, and to explain how these risks might affect future underwriting and investment decisions.