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The International Accounting Standards Board (IASB) is considering changes to the IFRS Accounting Taxonomy resulting from the project on Power Purchase Agreements.

A proposed update to the IFRS Accounting Taxonomy reflecting proposed disclosure requirements in the Exposure Draft Contracts for Renewable Electricity was published for public comment on 15 August 2024.

This Proposed IFRS Taxonomy Update is based on proposed amendments to the IFRS Accounting Standards. The proposed amendments to IFRS Accounting Standards might change, and the proposals in this Proposed IFRS Taxonomy Update would change to reflect the amendments issued.

The deadline for submitting comments is 14 October 2024.

IASB® Update December 2024

The IASB met on 9 December 2024 to discuss the feedback on and the potential changes to:

  • IFRS Accounting Taxonomy 2024—Proposed Update 2 Contracts for Renewable Electricity (Proposed Update 2); and
  • IFRS Accounting Taxonomy 2024—Proposed Update 3 IFRS 19 Subsidiaries without Public Accountability: Disclosures, Amendments to the Classification and Measurement of Financial Instruments and Annual Improvements (Proposed Update 3).

IFRS Accounting Taxonomy 2024—Proposed Update 2 Contracts for Renewable Electricity (Agenda Paper 25A)

The IASB discussed:

  1. the feedback on Proposed Update 2;
  2. the potential changes to the taxonomy modelling proposals set out in Proposed Update 2, which would reflect the updated disclosure requirements in Contracts Referencing Nature-dependent Electricity; and
  3. the next steps in the project.

The IASB was not asked to make any decisions.

IFRS Accounting Taxonomy 2024—Proposed Update 3 IFRS 19 Subsidiaries without Public Accountability: Disclosures, Amendments to the Classification and Measurement of Financial Instruments and Annual Improvements (Agenda Paper 25B)

The IASB discussed:

  1. the feedback on Proposed Update 3; and
  2. the next steps in the project.

The IASB was not asked to make any decisions.

Next milestone

IFRS Taxonomy Update