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 information 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 — manufacturing
We set a group-wide climate goal for our own operations and purchased electricity, using 2024 as the starting point and 2035 as the end date. The goal is framed on an absolute basis for direct emissions and on an intensity basis for emissions per tonne of output, with progress tracked against a 1.5°C pathway aligned to the Paris Agreement.
- Our interim checkpoints are 2028 and 2031, each measured against the same 2024 starting point.
- By 2028 we aim to cut direct emissions by 25% from 2024 levels, and by 2031 by 45%; for emissions intensity, we target a 20% reduction by 2028 and 35% by 2031.
- The target covers our manufacturing sites and logistics operations in the UK and EU, but excludes joint ventures we do not control.
This example shows how a reporter can describe a climate target in plain language while covering the starting point, end point, interim checkpoints, the metric used, the organisational boundary, and the link to a recognised international climate pathway. It also shows that a target can be expressed both as a total reduction and as a reduction per unit of output, provided the basis is made clear.
Illustrative (synthetic) example — financial services
We have set a group climate objective for our lending and investment portfolio, with 2023 as the reference year and 2040 as the target year. The aim is expressed as an intensity measure for financed emissions, while also tracking an absolute reduction for the portfolio overall, and it is designed to support a net-zero pathway consistent with the Paris Agreement.
- Our milestone dates are 2027 and 2032, both compared with the 2023 reference year.
- By 2027 we plan to reduce portfolio emissions intensity by 18% and total financed emissions by 12%; by 2032 the intended reductions are 40% and 28% respectively.
- The scope includes corporate lending and listed equity holdings managed by our group, excluding client assets where we act only as custodian.
This example illustrates how a financial reporter can explain a climate target for a portfolio using both total and per-unit measures, while identifying the base year, the final date, interim milestones, the business area covered, and the international agreement connection. The figures are internally consistent and purely illustrative.
How companies report S2-33 in practice
Examples of full and partial reporting practice. These are evidence-led reviews, not exact disclosure templates to copy.
SITC International Holdings Company Limited
Water Transportation · Hong Kong · 2025
SITC International Holdings Company Limited’s 2025 Environmental, Social and Governance Report provides a clear base year for its emissions data as 2021, specifically for scope 1 and 2 emissions (p.106). The report also references alignment with the Paris Agreement emission reduction curves, indicating an update to its emission reduction targets based on this international framework (p.77). However, the report lacks explicit disclosure on whether targets are expressed on an absolute or intensity basis, interim milestones, organisational scope, and the target period, while the metric used to set targets is mentioned but not clearly defined (p.197).
Chunghwa Telecom Co., Ltd.
Telecommunication Services · Taiwan · 2025
Chunghwa Telecom Co., Ltd.’s 2025 Sustainability Report provides absolute targets for GHG emission reductions with a base year of 2020, reporting actual emissions of 681.3 thousand for Scope 1 and 2 (p.37), and sets a target to reduce electricity consumption by 216 million kWh by 2030 compared to 2020 levels (p.34). The report includes partial information on interim milestones and target periods related to climate resilience products and services but lacks clear headline values for these (pp.34-36). Notably, there is no evidence of linkage to international agreements, organisational scope, or specific target metrics within the report.
Hyundai Engineering & Construction Co.,Ltd.
Construction and Engineering · South Korea · 2025
Hyundai Engineering & Construction Co., Ltd.'s 2025 Sustainability Report provides a base year value for non-renewable energy consumption in 2019, reported in MWh on page 50. The report includes some contextual references to climate-related targets and plans, such as mentions of target metrics on page 142 and climate-related transition plans on pages 41-42, but these disclosures are unclear and lack specific details. Notably, the report does not provide clear information on absolute versus intensity basis, interim milestones, target periods, organisational scope, or a narrative item related to the disclosure.
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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
Relevant IFRS / ISSB requirements and related disclosures
Available framework references and nearby disclosures relevant to preparing this requirement.
Primary
Related & explore
FAQ
Questions this page answers
How do I use the s2-33 page to draft the disclosure from scratch?+−
Start with the plain-language explainer, then work through the step-by-step preparation section and the datapoints list. The page also gives draft-output ideas, narrative starters and a content-index line you can adapt into your own draft.
What data do I need to collect for s2-33 before I start writing the disclosure?+−
The page says to prepare reporting basis, reference year, agreement alignment, progress checkpoints, target statement, entity coverage, measurement metric and target timeframe. Use those as your data checklist before drafting.
How should I set the scope and methodology for the s2-33 disclosure?+−
Use the page’s preparation section and the datapoints list to define the reporting basis, entity coverage, measurement metric and reference year. That gives you the core scope and method inputs before you turn the data into narrative.
Who should own the inputs for s2-33 in practice?+−
The page is useful for splitting ownership across sustainability, HR or other data owners because it tells you exactly which datapoints to prepare. Assign each item in the checklist to the person who can evidence it and explain the method.
What should go into the evidence pack for s2-33 assurance?+−
The page includes an evidence pack with five items and a separate set of five assurance claims to verify. Use those together so each claim has a clear claim, risk and evidence trail.
What are the main assurance checks I should be ready for on s2-33?+−
The page highlights five assurance claims to verify, each framed around claim, risk and evidence. Build your file so a reviewer can trace the reported figure or statement back to source support without having to chase missing context.
What are the common mistakes people make when preparing s2-33?+−
The page lists common reporting gaps and mistakes, so it is designed to help you spot weak points before sign-off. Use it as a pre-submission check against your draft, workbook and evidence pack.
How do I use the Prep & Assurance workbook for s2-33?+−
The Download Centre includes a Prep & Assurance workbook in .xlsx format and a printable Library Card in .pdf. Use the workbook to organise the datapoints, evidence and assurance checks, then use the PDF as a quick reference.
What can I take from the synthetic example disclosures for s2-33?+−
The page includes synthetic illustrative examples, including a quantitative table, to show how the disclosure can be presented. Treat them as formatting and drafting aids only, not as real-world benchmarks.
Is there a cross-framework reference I can use when working on s2-33 and ESRS E1?+−
Yes — the page notes ESRS E1 (Climate Change) as the closest ESRS correspondence. That can help you reuse data across frameworks, but the page does not say the requirements are identical.
More questions this page can help with
What is the reporting basis I need to capture for s2-33?How do I choose the reference year for s2-33?What does agreement alignment mean in the s2-33 prep checklist?How do progress checkpoints fit into the s2-33 disclosure?What should the target statement include for s2-33?How do I define entity coverage for s2-33?What measurement metric should I use for s2-33?How do I set the target timeframe for s2-33?What should I put in the content-index line for the s2-33 draft?Where can I find real published report examples for s2-33?How do I make the s2-33 disclosure assurance-ready before review?What visualisation ideas does the s2-33 page suggest for the draft output?
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