Disclosure focus
This disclosure asks an organisation to explain the features of its climate-related targets in a way that lets readers understand what is being measured and how far the target reaches. In practice, that means setting out the target’s scope, the parts of the business it covers, the time period it applies to, and any assumptions or conditions attached to it. The aim is to make clear whether the target is broad and organisation-wide, or narrower and limited to particular activities, locations, or emissions sources.
The practical focus is on coverage and comparability: users should be able to see whether the target applies across all operations or only selected sites, business units, or value-chain activities. An organisation should therefore describe the boundaries of the target clearly enough for someone to judge how representative it is and how it should be interpreted alongside other climate disclosures.
This LRA educational guidance supports disclosure preparation. For the exact requirements, always refer to the official IFRS source.
Before you start
A quick mental checklist before you prepare this disclosure — tick each as you settle it.
Preparation
Key datapoints to prepare
＋ Show s2-33 sub-elements (LRA working checklist)
State whether the target is set on a total-volume basis or adjusted for intensity.
Identify the reference year used to anchor the target.
Explain how the target connects to an international agreement, where relevant.
Set out any interim steps or checkpoint dates on the way to the target.
Describe the intended outcome the target is meant to achieve.
Specify which parts of the organisation are covered by the target.
Name the measure used to track progress against the target.
State the time frame over which the target applies.
How to prepare it
1Set the boundary first: decide which parts of the business are included in the target and make that scope clear before you draft anything else.
2Define the target itself in business terms: state the aim, the measure you will use, the period it covers, and whether progress is tracked as a total amount or as a rate against activity.
3Pin down the reference point and pathway: record the starting year, the key waypoints on the route, and any link to an external international commitment that the target is tied to.
4Gather support for each data point: collect the records, calculations, approvals, and source documents that back the scope, target wording, timing, and progress markers.
5Prepare the disclosure content: assemble the figures or narrative for every required item, and make sure each one is complete, internally consistent, and aligned to the evidence you have.
6Explain any gaps or revisions, then check the final wording against the official source so exclusions, changes, and definitions are all accurately reflected before issue.
Request the data
Request the target details and supporting evidence
Translate the disclosure into an internal business question — then adapt it to your organisation's own language.
What target have we set, over what period, for which part of the business, and what supporting records show the basis, milestones, and any link to an external climate pathway?
Use your organisation’s own terms first, then map them to the reporting fields. For example, if your team talks about a decarbonisation plan, net-zero roadmap, emissions reduction plan, or climate commitment, use that language in the request and only translate it into the reporting labels when you prepare the disclosure. Keep the ask practical and check the source records before sign-off.
Weak request
Please send the IFRS S2 target characteristics data for the disclosure.
Why it fails: This uses framework language only, so the owner may not know which internal records to pull. It also does not specify the business boundary, the target metric, the baseline, the time horizon, the milestones, or where the evidence sits, so the response is likely to be incomplete or inconsistent.
Better request
Please send the current climate target record for [boundary] for [period], including the metric used, baseline year and value, target end date, any interim checkpoints, whether it is set on an absolute or intensity-style basis, the objective it supports, any link to a named pathway or agreement, and the source document or system reference. Use your team’s own wording if that is how the record is held.
Industry examples
Draft your disclosure
Notes that turn data into a disclosure
LRA training templates — adapt them to your organisation, and check the official source before sign-off.
Method note
We have described the target using the chosen measure, the basis used to express it, the starting reference point, the period it covers, the parts of the organisation included, any interim checkpoints, and the external agreement it is linked to.
Context note
Taken together, these figures show what the organisation is aiming to achieve, how progress will be measured, which parts of the business are in scope, and how the target sits within a wider international commitment.
Fluctuation statement
If the target design or timing changes, explain whether the revision affects the measure used, the reference year, the coverage of the organisation, the interim steps, or the link to the external agreement.
Content index entry
s2-33 Target characteristics — [location / page] / [notes]
Download Centre
Preparation tools & forms
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Assurance readiness
For each claim, check the evidence
Evidence pack to prepare
Common reporting gaps
The information is presented without a date or as-at point.The scope or boundary of the statement is left undefined.Key terms are used inconsistently across the report.Material changes since the previous period are not disclosed.Assertions are made without supporting detail or a source record.Boilerplate is used that does not actually answer what is asked.
Common gaps
Mistakes to avoid when collecting the data
Wrong owner
The request goes to the wrong team, so the person who holds the target file or tracker never confirms the figures.
Framework terms first
The data ask is written in reporting jargon instead of the organisation’s own labels, and the source team cannot map it to their records.
Scope left vague
No one states which entities, sites, or activities sit inside the target set, so different teams pull different populations.
Wrong timing basis
The collection uses the reporting period when the target was set, or vice versa, so the dates do not line up with the underlying record.
Mixed counting basis
Absolute figures and ratio-based measures are gathered together without separation, which makes the target metric impossible to reconcile.
Source labels lost
Original file names, tracker codes, or system tags are stripped out during collation, so the evidence trail cannot be traced back.
Populations merged
Separate target groups are combined into one dataset, even though they should stay distinct for review and sign-off.
Evidence details missing
The pack arrives without the supporting dates, version marks, or document references needed to show where each figure came from.
No sign-off trail
The final data set is shared without a clear approval record, so nobody can show who checked it before it moved on.
Where judgement is often needed
Choosing the measurement basis
Decide whether the target is tracked as a whole-organisation figure or as a rate, keep that choice consistent, and explain why it fits the target and how progress will be read.
Setting the starting point
Use one clearly identified starting period for the target, explain how it was selected, and say whether later restatements or recalculations will be applied if the baseline changes.
Linking the target to an external pathway
If the target is tied to an outside climate pathway or similar reference point, state which one was used, how closely the target follows it, and where your own judgement departs from it.
Defining the covered part of the business
Spell out which entities, operations, sites or activities are included, and explain any exclusions so readers can see the same boundary used for the target and for progress reporting.
Handling acquisitions and disposals
Set out how bought, sold or closed parts of the business affect the target boundary and whether progress is adjusted, frozen or re-based when the group changes.
Reconciling different local definitions
Where countries or business units use different operational definitions for the same measure, choose one approach, describe any mapping or conversion used, and disclose the impact on comparability.
Treating near-boundary populations or assets
Explain how you deal with people, assets, customers or activities that sit partly inside and partly outside the target boundary, including the rule used to include, exclude or apportion them.
Using estimates versus direct readings
If some figures come from estimates, models or proxies rather than direct measurement, identify the method, explain the main assumptions, and note which parts of the target are more uncertain.
Rounding and presentation choices
State the rounding rule used for target values, milestones and progress updates, and make sure the same rule is applied consistently so small differences are not misleading.
Protecting sensitive data through aggregation
When detailed location, workforce or customer data cannot be shown for privacy or security reasons, present the target at a higher level, explain the aggregation used, and note any effect on precision.
Examples
Illustrative examples
Synthetic, written by LRA — not from a company report, not text from any standard.
Illustrative (synthetic) example — Electricity generation
We have set a group-wide climate goal for our own operations and value chain, measured on a **gross emissions** basis rather than per unit of output. The reference point is **2022**, the aim is to cut emissions by **42% by 2030**, and we have also set checkpoints for **2025 (15% below 2022)** and **2027 (28% below 2022)**; this pathway is aligned to the **Paris Agreement** and covers **our full consolidated group**. The target is tracked in **tonnes of CO2e**.
Synthetic illustration only: shows a company-wide target, the starting year, a long-dated goal with interim waypoints, the link to an international climate accord, and the measurement basis and unit.
Illustrative (synthetic) example — Food manufacturing
Our group has adopted a climate target for the businesses we control, expressed on an **emissions per tonne of product** basis rather than as an absolute cut. Using **2021** as the starting point, we aim to reduce the metric by **30% by 2028**, with interim steps of **10% by 2024** and **20% by 2026**; the target is designed to support the **Paris Agreement** and applies to **all majority-owned sites**. The measure is reported in **kg CO2e per tonne of output**.
Synthetic illustration only: shows an intensity-style target, the baseline year, the final date, staged milestones, the international agreement link, the organisational boundary, and the metric used.
How companies report s2-33
Real reports where this topic is disclosed. These are report practice, not exact disclosure templates to copy.
MTR Corporation
Ground Transportation — Railroads · Hong Kong · 2025
MTR Corporation’s Sustainability Report 2025 includes a clear reference to a base year for emissions reductions, identifying 2019 as the baseline against which progress is measured (p.68). However, the report does not provide evidence on whether the emissions data are presented on an absolute or intensity basis, nor does it specify target metrics, target periods, or interim milestones. Additionally, there is no mention of links to international agreements or detailed organisational scope related to the disclosure.
SITC International Holdings Company Limited
Water Transportation · Hong Kong · 2025
SITC International Holdings Company Limited’s 2025 ESG Report includes a base year for emissions set at 2021, applying to scope 1 and 2 emissions (p.106), and references alignment of its emission reduction targets with the Paris Agreement (p.77). The report mentions climate-related targets and monitoring of progress (p.192, p.193), but does not clearly disclose the specific target metrics or the target period, with related context on metrics found but unclear (p.197). Notably, there is no evidence found regarding absolute versus intensity basis for targets, interim milestones, organisational scope, or a narrative explanation of the targets.
Enel Chile S.A.
Electric Utilities / IPP / Energy Traders · Chile · 2025
Enel Chile S.A.'s 2025 Integrated Annual Report includes references to climate-related targets, such as a 2040 goal for zero direct emissions (scope 1) and targets for Scope 3 GHG absolute emissions related to Gas Retail, with some targets set by the parent company Enel S.p.A. (pp.171, 189, 191, 196). The report mentions that these targets are linked to sector-based decarbonization initiatives and are integrated into the company’s strategies and operations (pp.168, 189, 196). However, the report does not provide clear information on the base year, target metrics, target periods, organisational scope, interim milestones, or links to international agreements.
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Scenarios to work through
A group sets a 2035 emissions goal for its own operations, but the draft note only says the target is to 'cut emissions' and does not say whether that is measured as a total amount or per unit of output. The same draft also leaves out whether the target covers the whole group or only selected sites.
QWhat should the preparer check before signing off this target description?
Reveal model answer →Hide answer ↑The description should make clear the measurement basis being used, and it should also state which parts of the business are included. If the target is framed as a total reduction, that should be clear; if it is framed against activity or output, that should be clear too. The organisational boundary should not be left vague, because readers need to know whether the target applies to the whole group or only part of it.
Why this matters · A target description needs enough context for readers to understand both how it is measured and which entities or operations it covers.
A company has set a climate target against 2022 performance, but the draft report only gives the end date and the headline percentage change. It does not say what starting point the target is measured from, or how the target links to the wider climate pathway the company says it follows.
QWhat missing details matter here?
Reveal model answer →Hide answer ↑The preparer should add the starting reference point used for the target and explain how the target connects to the broader climate pathway or external framework the organisation says it is aligned with. Without the starting point, the reader cannot tell what the change is measured against. Without the link to the wider pathway, the reader cannot see how the target fits into the organisation’s stated climate approach.
Why this matters · A target should be anchored to a clear starting point and, where relevant, connected to the wider climate framework it is meant to support.
A preparer drafts a net-zero plan with a final date in 2040 and one interim checkpoint in 2030. The note says the company will 'make progress along the way' but does not spell out the intermediate steps or the specific milestones that management will use to track delivery.
QHow should the preparer treat the interim steps in the disclosure?
Reveal model answer →Hide answer ↑The disclosure should set out the milestones or interim targets that sit between today and the final date. A general statement about progress is not enough on its own, because readers need to see the planned stepping stones that show how the organisation expects to move toward the end target.
Why this matters · Where a long-term target is disclosed, the path to it should be broken into clear interim checkpoints or milestones.
A business reports a 2030 target to reduce emissions from its manufacturing sites, but the draft note does not say what the target is trying to achieve in practical terms beyond the percentage cut. It also omits the target metric, so readers cannot tell whether the figure is tonnes, intensity, or another measure.
QWhat should the preparer make explicit in the final wording?
Reveal model answer →Hide answer ↑The disclosure should state the aim of the target in plain business terms and identify the metric used to track it. The objective tells readers what the organisation is trying to achieve, while the metric tells them how performance will be measured. If either is missing, the target is too vague to understand properly.
Why this matters · A target needs both a clear purpose and a clear measure so readers can understand what success looks like.
Framework references
Related framework references
How this disclosure maps across the major reporting frameworks.
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Related & explore
FAQ
Questions this page answers
For s2-33, what should I gather before I start drafting the disclosure?+−
Use the page’s datapoint list as your starting checklist: reporting basis, reference year, agreement alignment, progress checkpoints, target statement, entity coverage, measurement metric and target timeframe. The page also has a step-by-step preparation section you can use to turn that list into a working draft.
How do I use the s2-33 step-by-step preparation section in practice?+−
Work through the preparation section to move from raw inputs to a draft disclosure, rather than trying to write the narrative first. It is designed to help you set scope, organise the data and then shape the output.
What data owner inputs do I need for s2-33 to make the disclosure usable?+−
The page points you to the core datapoints needed for the disclosure, including the reporting basis, reference year, entity coverage, measurement metric and target timeframe. Those inputs help a data owner provide information that can be used consistently in the draft.
How should I decide the scope and methodology for s2-33 using this page?+−
Use the datapoint list and the preparation section to define the reporting basis, entity coverage and measurement metric before drafting. That gives you a practical basis for explaining what is included and how the information has been prepared.
Who should own the s2-33 disclosure process in a company?+−
The page is set up for a practitioner team, so ownership usually sits with the person coordinating the disclosure and pulling together inputs from data owners. Use the preparation section and workbook to assign tasks and keep the evidence trail organised.
What evidence pack do I need to make s2-33 assurance-ready?+−
The page includes an evidence pack with five items for assurance readiness, alongside five assurance claims to verify. Use those together so you can link each claim to the supporting evidence before the draft is finalised.
What are the common mistakes to avoid when preparing s2-33?+−
The page lists common reporting gaps and mistakes, so it is worth checking those before you finalise the disclosure. A practical use is to compare your draft against that list and fix any missing datapoints, unclear scope or weak evidence early.
How do I use the Prep & Assurance workbook for s2-33?+−
The Download Centre includes a Prep & Assurance workbook in .xlsx format, which is there to help you organise the disclosure work and evidence. Use it alongside the page’s preparation steps, assurance claims and evidence pack to build a draft that is easier to review.
What can I do with the synthetic example disclosure on s2-33?+−
The page includes synthetic illustrative example disclosures, including a quantitative table where relevant, so you can see how the information might be presented in practice. Treat it as a drafting aid only and adapt it to your own data and scope.
Can I reuse data from s2-33 for ESRS E1 (Climate Change)?+−
The page notes ESRS E1 (Climate Change) as the closest correspondence, so the same underlying data may be useful across both contexts. That does not mean the reporting asks are identical, so you still need to check the receiving framework before reusing anything.
How do I turn the s2-33 data into a draft narrative and content index line?+−
The draft-output section gives you visualisation ideas, narrative starters and a content-index line to help convert the prepared data into report-ready text. Use those prompts to keep the narrative aligned to the datapoints you have collected.
More questions this page can help with
s2-33 disclosure checklist: what datapoints should I ask the business for first?How do I assign responsibilities for s2-33 between ESG, HR and data owners?What should go into the s2-33 evidence pack for assurance review?How do I use the s2-33 workbook to track preparation and evidence?What are the most common s2-33 reporting gaps to check before sign-off?How do I use the s2-33 example disclosure to draft my own wording?What should I include in the s2-33 reporting basis and reference year fields?How do I decide the entity coverage for s2-33?What is the best way to document progress checkpoints for s2-33?How do I build an assurance-ready s2-33 file from the page resources?Which s2-33 inputs are most likely to be reused for ESRS E1?How do I use the content-index line for s2-33 in a draft report?
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