IFRS S2 disclosure template in Excel: the seven cross-industry metrics, the target fields, and what paragraph 29 actually asks for
Most "IFRS S2 templates" are narrative outlines: governance, strategy, risk management, metrics and targets as four headings with prompts under each. The first three are prose and no spreadsheet helps much. The fourth is a list of numbers and facts the standard specifies almost line by line, and that is where a template earns its keep. This page walks the metrics and targets content of IFRS S2, with the paragraph references, and shows where a workbook does the arithmetic.
UK SRS S2, the UK-endorsed text published by the Department for Business and Trade in February 2026, keeps the same paragraph numbering, so everything below reads the same for UK reporters.
The seven cross-industry metric categories (paragraph 29)
Every entity discloses these regardless of industry. The industry-based metrics in the accompanying guidance sit on top, not instead.
| Category | What is disclosed | Reference |
|---|---|---|
| (a) Greenhouse gases | Absolute gross Scope 1, Scope 2 and Scope 3 emissions in tCO2e, measured per the GHG Protocol Corporate Standard unless a jurisdiction requires otherwise. Scope 1 and 2 are split between the consolidated accounting group and other investees (associates, joint ventures, unconsolidated subsidiaries). Scope 2 is location-based, with information about contractual instruments where needed. Scope 3 states which of the 15 GHG Protocol categories are included. | 29(a)(i) to (vi), B30 to B32 |
| (b) Climate-related transition risks | Amount and percentage of assets or business activities vulnerable to transition risks | 29(b) |
| (c) Climate-related physical risks | Amount and percentage of assets or business activities vulnerable to physical risks | 29(c) |
| (d) Climate-related opportunities | Amount and percentage of assets or business activities aligned with opportunities | 29(d) |
| (e) Capital deployment | Capital expenditure, financing or investment deployed towards climate-related risks and opportunities | 29(e) |
| (f) Internal carbon prices | Whether and how an internal carbon price is used in decision-making, and the price per tonne | 29(f) |
| (g) Remuneration | Whether and how climate considerations are factored into executive remuneration, and the percentage of executive remuneration recognised in the period that is linked to them | 29(g) |
Three things people get wrong here:
Scope 2 has one required number. The location-based figure is what paragraph 29(a)(v) asks for. Market-based is disclosed as information about contractual instruments, not as a substitute. The free Scope 2 calculator produces both from the same inputs. Scope 3 is fifteen flags, not one number. Paragraph 29(a)(vi) wants the categories included in the measurement stated. A total without the category list is incomplete. The percentages need a stated base. Categories (b), (c) and (d) are an amount and a percentage. The denominator (total assets, revenue, or activity) has to be the same one each time or the three figures do not add up.The measurement approach (paragraph 29(a)(iii))
For the GHG figures the entity discloses the approach, inputs and assumptions: the consolidation approach, whether any jurisdiction-required method other than the GHG Protocol was used, and for Scope 3 the measurement framework. This is a text disclosure that sits next to the numbers, and a template should leave room for it beside each figure rather than in a separate document.
Climate-related targets (paragraphs 33 to 36)
For each target the standard lists what to disclose. Set out one column per target and these rows:
| Field | Reference |
|---|---|
| Metric used to set the target | 33(a) |
| Objective of the target (mitigation, adaptation, conformance with a standard) | 33(b) |
| Part of the entity the target applies to | 33(c) |
| Period the target applies to, and the base period from which progress is measured | 33(d), 33(e) |
| Milestones and interim targets | 33(f) |
| Whether it is an absolute target or an intensity target | 33(g) |
| How the latest international agreement on climate change (and any jurisdictional commitment) informed the target | 33(h) |
| Whether and how the target was validated by a third party | 34(a) |
| The process for reviewing the target | 34(b) |
| The metrics used to monitor progress | 34(c) |
| Any revisions to the target and the explanation | 34(d) |
| Performance against each target and an analysis of trends | 35 |
GHG targets carry five more fields under paragraph 36: the gases covered, the scopes covered, whether the target is gross or net (a net target also requires the gross target to be disclosed), whether a sectoral decarbonisation approach was used, and the planned reliance on carbon credits, with the scheme, credit type and whether they are reductions or removals.
The arithmetic a template should do from base, current and target values: progress to date as a share of the total reduction, the change since the base period, whether the entity is on a straight line to the target year, and the compound annual rate now needed to reach it. The last one is the number a board asks for and the one most templates leave out.
Where the workbook fits
The IFRS S2 / UK SRS S2 Climate Disclosure Workbook is the two lists above as sheets. Cross-industry metrics: every category with current and prior period side by side, change and change %, the consolidated and other-investee split for Scopes 1 and 2, location-based and market-based Scope 2 alongside, and all 15 Scope 3 categories with an included flag. Targets: up to eight targets, one column each, every field in paragraphs 33 to 36 with its reference, and the progress, on-track and required-rate rows computed. A GWP converter carries the seven gases plus common HFCs and PFCs at IPCC AR6 100-year values (fossil and non-fossil methane separated), and a checklist marks each requirement entered or missing from the sheets where it can.
Requirements are paraphrased with paragraph references; the standard's text is not reproduced. Governance, strategy and risk management narrative, and industry-based metrics, are outside the workbook. It pairs with the GHG inventory workbook for the Scope 1 to 3 figures and the PCAF calculator for Scope 3 category 15.
Sources
- IFRS S2 Climate-related Disclosures, paragraphs 29, 29A to 29B, 33 to 37, B19 to B22, B30 to B32, as issued by the ISSB (June 2023) and read in the UK-endorsed text: UK SRS S2 Climate-related Disclosures, Department for Business and Trade, February 2026 (same paragraph numbering).
- GHG Protocol, "Global Warming Potential Values" (IPCC AR6 100-year values), August 2024: ghgprotocol.org.
- GHG Protocol Corporate Accounting and Reporting Standard (revised edition) and Corporate Value Chain (Scope 3) Standard: ghgprotocol.org/standards.
Last checked against the sources on 20 September 2026.
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