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IFRS S2: Climate-related Disclosures·Paragraphs 29–e
Capital deployment metric
Practical guidance for preparing this disclosure. Use this card to identify the information to prepare, verify claims and organise supporting evidence. For exact requirements, always refer to the official IFRS source.
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Prepared from official source material and published report evidence. No named approver is recorded yet, so this page carries no byline.
Use it alongside the official IFRS source while that review is in progress.
Standard
IFRS S2: Climate-related Disclosures
Paragraphs 29–e · 2024
Last reviewed
—
LRA educational guidance · Not issued or endorsed by IFRS
To prepare this disclosure
Disclosure focus
This disclosure asks an organisation to explain how much capital it is deploying in relation to climate-related matters, and to make clear what that figure covers. In practice, the key point is not just the amount itself, but whether it reflects the whole business, a particular business unit, or only selected projects or sites.
The practical focus is on scope and consistency: readers should be able to see whether the metric captures spending across operations, specific assets, or only flagship initiatives. The organisation should present the measure in a way that helps users understand what is included, what is left out, and how the figure connects to its climate strategy and investment decisions.
This LRA educational guidance supports disclosure preparation. For the exact requirements, always refer to the official IFRS source.
Before you start
Before you start
A quick mental checklist before you prepare this disclosure — tick each as you settle it.
Preparation
Key information to prepare
| Preparation field | What to capture | Evidence hint | Owner |
|---|---|---|---|
| Capital spend deployed | Capture the amount of capital expenditure that has actually been put to use for the relevant activity in the reporting period, using the same basis as the finance records and the project ledger. | Capex register, project approvals, fixed asset additions, and finance close pack that ties to the general ledger. | Finance / Capital Projects |
| Funding deployed | Capture the amount of financing that has been provided and used for the relevant purpose in the period, on the same basis as treasury and deal records. | Treasury records, loan or facility drawdown notices, funding agreements, and period-end finance reconciliations. | Treasury / Finance |
| Investment deployed | Capture the amount of investment placed into the relevant activity during the period, aligned to the investment book and accounting records. | Investment portfolio records, transaction confirmations, valuation or accounting schedules, and period close support. | Investments / Finance |
| Impact split | Capture how the reported amount is divided between emissions reduction, climate resilience, and other opportunity-related activity, using a consistent classification for each item. | Deal or project classification file, methodology note, and supporting business case or impact assessment for each allocation. | Sustainability / Strategy / Finance |
| Period and scope split | Capture the reporting period covered and how the amount is allocated across business lines and locations, using the same cut used in management reporting. | Reporting calendar, management accounts, segment reporting pack, and geographic allocation schedule. | Finance / Reporting / Business Unit Controllers |
＋ Show s2-29-e sub-elements (LRA working checklist)
Record capital spending that has been put to work.
Record funding that has been put to work.
Record investment that has been put to work.
Show how the amounts are divided between mitigation, adaptation and opportunity.
State the reporting period and how the amounts are allocated by business area and geography.
How to prepare it
Set the reporting boundary first: decide which time window you will use, and which parts of the business and which locations are included in the figures or narrative.
Agree your definitions before you start collecting data: separate the three spending or funding streams you need to report, and make sure the team uses the same meaning for each one.
Gather supporting records for each amount or statement: keep the source documents that show the spending, funding or investment, and the basis used to classify it.
Build the disclosure from the evidence: prepare the amounts or narrative so they can be split into climate mitigation, climate adaptation, and climate-related opportunity where relevant.
Record any exclusions, reclassifications or changes in method: explain what was left out, what moved between categories, and any shift in the way the numbers were allocated across time, business lines or geographies.
Check the draft against the official source before sign-off: confirm the boundary, definitions, splits and supporting evidence all match the underlying requirement, and correct any gaps or inconsistencies.
Request the data
Request the capital deployment schedule
Translate the disclosure into an internal business question — then adapt it to your organisation's own language.
How much money has been put into climate-related activity in the period, and how is it split across spending, funding and investment, with the relevant business and geography mapping?
Use your organisation’s own labels first, then map them to the disclosure categories. For example, ask for the internal project, spend and funding terms the business already uses, then translate those into the reporting split only at the end. Check the source records before sign-off.
Weak request
Please provide the IFRS S2 capital deployment metric data for the period, including the split by mitigation, adaptation and opportunity and the business/geographic allocation.
Why it fails: This uses framework language rather than the organisation’s own terms, so the owner may not know which internal reports or fields to pull. It also does not say which system, boundary, period, or source evidence to use, so the response may be incomplete or inconsistent.
Better request
Please send the climate-related spend, funding and investment figures for [period] across [boundary], using your normal project and finance labels. For each line, include the amount, whether it sits in mitigation, adaptation or opportunity, and the business and geography mapping. Please attach the source extract or workbook and note any classification judgement.
Formal email template
Subject: Request for capital deployment data for [reporting period] Hi [name/team], Could you please share the data and supporting evidence for climate-related capital deployment for [reporting period] across [boundary]? Please use the organisation’s own internal labels where possible, and include a short mapping to the reporting split we need at the end. We need: - amounts for capital spend, funding and investment linked to climate-related activity - the split between mitigation, adaptation and opportunity-related items - the business and geographic allocation for each line - the source system or workbook used - the basis used to classify each item - any notes on exclusions, reallocations or judgement calls Please return this in a table and attach the source extract or workbook used. If helpful, I can send a template. Please check the source records before we finalise. Thanks, [preparer name]
Short Teams / Slack version
Hi [name/team] — could you send the climate-related capital deployment data for [period] across [boundary]? Please use your usual internal terms, and include the split by mitigation / adaptation / opportunity plus the business and geography mapping. Attach the source extract/workbook and any notes on classification. Thanks, [name]
Industry examples
Utilities
Context. A regulated utility tracks grid resilience upgrades, renewable connections and customer energy-efficiency programmes in separate planning tools.
Adapted request. Please share the climate-related capital spend, project funding and investment figures for [period] across [boundary]. Use the project names and finance codes already in the planning tool, then add a mapping to mitigation, adaptation or opportunity, plus the network area and region for each line. Attach the source extract and note any reclassifications.
Example response. A table listing each project code, internal project name, amount, mapped reporting category, network region, business unit, source workbook, and reviewer sign-off.
Manufacturing
Context. A manufacturer records plant upgrades, process changes and strategic investments in ERP and capex approval packs.
Adapted request. Please provide the climate-related capex, financing and investment lines for [period] across [boundary]. Use the plant, programme and finance terms already used internally, and add the split into mitigation, adaptation or opportunity, plus site and business line mapping. Include the approval pack or ERP extract used.
Example response. A schedule with asset/project ID, internal label, amount, reporting category mapped, site, business line, source system, and approval reference.
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
State the basis used to define each deployed amount, including how the team grouped spending, financing and broader investment activity, and how it assigned figures to time periods and to business or geographic locations.
Context note
Explain what the figures show in practice: where the organisation directed resources, which climate-related aims they supported, and how the split helps readers understand the balance of effort across the portfolio.
Fluctuation statement
If any category moved materially, describe the operational or portfolio reasons for the change, such as a shift in project mix, timing of deployment, or a different spread across businesses or locations.
Content index entry
s2-29-e Capital deployment metric — [location / page] / [notes]Download Centre
Preparation tools & forms
Professional preparation tools for s2-29-e — free with an LRA Community membership. Register once (it's free) and every download unlocks, together with the Disclosure Library, templates and the LRA AI Assistant.
Assurance readiness
For each claim, check the evidence
| Claim | Risk | Evidence to check |
|---|---|---|
| We used the amount actually committed or spent in the reporting period, and we tied it back to the underlying project records. | The amount may mix planned figures with actual deployment, or include items outside the period being reported. | Project ledgers, approval papers, payment records, fixed-asset or financing schedules, and a reconciliation from source records to the published figure. |
| We separated the figure into the relevant business lines or locations that the underlying records support. | The allocation may be based on estimates without a clear basis, or the same spend may be counted in more than one place. | Allocation methodology, cost-centre or asset registers, mapping of projects to business units or sites, and checks showing no double counting. |
| We split the disclosed amount into the categories used in the report, and we kept the labels consistent with the working papers. | The category split may be inconsistent, incomplete, or driven by presentation choices rather than source data. | Working papers showing the category mapping, source documents for each line item, and a review trail confirming the totals add up. |
| We stated the reporting period and the relevant organisational or location basis used for the figure. | Readers may be misled if the period, entity boundary, or site coverage is unclear or differs from the rest of the report. | Reporting calendar, consolidation or boundary papers, scope notes, and the final draft showing the period and basis disclosed alongside the number. |
| Before publication, we checked the figure against the source files, reviewed the calculations, and confirmed the published total matches the supporting records. | Arithmetic errors, broken links between source data and the published number, or unsupported adjustments may remain in the final version. | Calculation sheets, review sign-off, version control, audit trail, and evidence of management review or internal assurance over the final draft. |
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 ownerThe request goes to the finance or sustainability team in framework language, so the person who actually tracks capex, lending, or investment records is never asked for the source data.
Scope left vagueThe team pulls figures without first agreeing which projects, portfolios, or entities sit inside the reporting boundary, so later extracts do not line up.
Timing basis mixed upOne source uses booking date while another uses payment or commitment date, and the final file blends them without a single period rule.
Counting basis not fixedAmounts are gathered from different ledgers or systems that treat deployed value differently, so like-for-like comparison is lost before any narrative is drafted.
Original labels stripped outThe extract is copied into a clean spreadsheet and the source system names, project codes, and line-item tags are removed, making trace-back difficult.
Separate groups mergedMitigation, adaptation, and opportunity-related amounts are added together too early, even though they need to stay distinct for the split.
Evidence details missingThe file contains numbers but not the supporting document reference, owner, or extraction date, so the data cannot be checked later.
No sign-off trailThe working paper is passed around informally and no one records who reviewed or approved the figures, leaving no clear audit trail.
Where judgement is often needed
Choose the cut-off date for the reporting windowState the date used to lock the period, explain why that cut-off was chosen, and keep it consistent with the evidence trail for the amounts reported.
Decide how to treat deals that start or finish mid-periodIf a business, asset or portfolio enters or leaves the group during the year, explain whether you include only the time it was under your control and how you avoid double counting or omission.
Set a single rule for classifying spend across countriesWhere local labels or product categories differ, map them to one internal classification approach, disclose the mapping rule, and note any country-specific exceptions.
Define the boundary for mixed-use or shared activitiesFor items that support more than one line of business or geography, explain the allocation method used and disclose any judgement where the split is based on estimates rather than direct records.
Explain how you separate mitigation, adaptation and opportunity spendWhen one project could fit more than one bucket, disclose the basis used to assign it to one category, and say whether the split is based on management judgement, project tags or another method.
Decide whether to use booked amounts or cash movementIf the organisation tracks deployment using commitments, invoices, payments or another basis, state which measure you used and why it best matches the way the business monitors deployment.
Show how estimates were used where records were incompleteWhere exact figures were not available, disclose the estimation method, the main assumptions, and whether the numbers were later adjusted when better evidence became available.
Round figures in a way that still ties back to the source dataIf you round or simplify the numbers for presentation, explain the rounding rule and make sure the published totals still reconcile to the underlying records.
Aggregate small or sensitive items to protect confidentialityIf detailed location, project or counterparty data cannot be shown without revealing sensitive information, combine it into broader groupings and explain the level at which the figures are presented.
Examples
Illustrative examples
Synthetic, written by LRA — not from a company report, not text from any standard.
Illustrative (synthetic) example — Electricity generation
We set out the money we put into low-carbon and resilience-related activity during the year, split between spending from our own balance sheet, funds arranged through lenders, and equity-style backing from investors. For the 12 months ended 31 December 2025, our group allocated £420 million in total: £260 million to emissions-cutting projects, £110 million to weather-resilience work, and £50 million to growth opportunities; of that total, £300 million was capital spending, £80 million was lender-backed funding, and £40 million came from investor financing. By geography, £250 million related to the UK, £120 million to continental Europe, and £50 million to North America.
This example shows how to describe climate-related spending and funding in plain language, while separating the amounts by purpose and by where the activity sits in the business.
Illustrative (synthetic) example — Commercial banking
During 2025, we reported the resources we directed to climate-related activity, distinguishing between our own spending, debt-style support, and equity-style support. Across our retail and corporate lending operations, we deployed £180 million in total: £90 million for emissions-reduction measures, £60 million for adaptation work, and £30 million for opportunity-led projects; within that total, £70 million was capital expenditure, £50 million was financing provided, and £60 million was investment placed. The amounts were split across our UK business (£100 million), our European business (£50 million), and our Asia-Pacific business (£30 million).
This example illustrates a financial-services style narrative that separates the same pool of climate-related resources by use, funding type, and business/geographic location.
Company reports
How companies report S2-29-e in practice
Examples of full and partial reporting practice. These are evidence-led reviews, not exact disclosure templates to copy.
Hang Lung Properties Limited
Real Estate · Hong Kong · 2025
Hang Lung Properties Limited’s Sustainability Report 2025 provides clear disclosure on capital expenditure and financing deployed towards climate-related initiatives, specifically noted on page 195. The report includes references to capital deployment but does not provide explicit figures or details on investment deployed, as no evidence was found for this datapoint. Additionally, while there is related context on climate resilience and adaptation versus mitigation strategies on page 190, the report does not clearly disclose the split of capital deployment by these categories, nor does it specify the time period or geographic allocation of the capital deployment.
DBS Group Holdings
None · Singapore · 2025
DBS Group Holdings’ Sustainability Report 2025 provides reported values for capital expenditure and financing deployed towards climate-related activities on page 115, indicating coverage of these datapoints. However, the report does not include a clear figure for investment deployed, as no quotable evidence was found. Additionally, while there is related context on investment across climate mitigation and adaptation on page 14, the split by mitigation, adaptation, and opportunity is not clearly disclosed, and there is no information on the time period or geographic allocation of these deployments.
COSCO SHIPPING Ports
Water Transportation — Ports and Services · China / Hong Kong · 2025
COSCO SHIPPING Ports’ Sustainability Report 2025 provides data on capital expenditure and financing deployed towards climate-related risks and opportunities, specifically referenced on page 72 within Chapter 8 – Climate Resilience. The report includes a reported value for capital expenditure and financing but does not provide a distinct figure for investment deployed. Additionally, the report lacks disclosure on the split of these amounts by mitigation, adaptation, or opportunity, as well as details on the time period and geographic allocation of the deployed capital.
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Scenarios to work through
A group has spent £12 million on new heat-pump equipment in the current year, but the finance team also wants to include a £3 million software upgrade that was booked as an operating cost. The sustainability team is unsure whether both items belong in the same deployment metric.
QShould the report separate the spending that is genuinely tied to long-term asset deployment from other outlays, and keep the metric focused on the relevant deployment type?
Reveal model answer →Hide answer ↑
Yes. The figure should reflect the type of deployment being tracked, so the team should exclude items that do not fit that category and present the amount that does. If the organisation has more than one deployment type to report, each should be shown on its own basis rather than blended together.
Why this matters · Keep the metric aligned to the actual form of deployment being described, not to every related spend item.
A preparer has one total for climate-related spending of £40 million, made up of £18 million for emissions-cutting projects, £9 million for flood-resilience work, and £13 million for a new low-carbon product line. The draft note currently shows only the total.
QDoes the disclosure need a breakdown that shows how the total is divided between different climate purposes?
Reveal model answer →Hide answer ↑
Yes. A single combined total is not enough on its own if the organisation has identified different purposes for the deployment. The report should show how much relates to reducing emissions, how much supports adapting to climate impacts, and how much is linked to a climate-related business opportunity, using a clear split that adds back to the total.
Why this matters · Where deployment serves different climate aims, the reader should be able to see the split and reconcile it to the whole.
A company approved £25 million for a factory retrofit in December 2025, but the cash will be paid in stages through 2026 and 2027. The team is unsure whether to show the full approved amount in 2025 or only the cash paid that year.
QWhich period should the metric follow: the approval date, the payment date, or another clearly explained time basis?
Reveal model answer →Hide answer ↑
The organisation should use a time basis that is clear and consistent, and explain it in the disclosure. If the metric is built on approvals, commitments, or cash outflows, the chosen period must be stated so users can understand what the number covers and compare it with other periods.
Why this matters · State the time basis plainly so the number is not misunderstood.
A multinational has £30 million of deployment in Europe and £20 million in Asia, but the project team only tracked the amounts by business line and did not keep a geographic split. The draft report also groups all amounts together without saying which business units they relate to.
QCan the organisation leave out the business and location breakdown if it has the total amount, or does it need to show how the deployment is allocated?
Reveal model answer →Hide answer ↑
It should not stop at the total if the underlying tracking is meant to show where the deployment sits in the business and where it is located. The disclosure should explain the allocation by business area and by geography in a way that matches the organisation’s records, so the reader can see how the total is distributed.
Why this matters · A total alone is weaker than a total plus the way it is assigned across business areas and places.
Framework references
Relevant IFRS / ISSB requirements and related disclosures
Available framework references and nearby disclosures relevant to preparing this requirement.
IFRS / ISSB
s2-29-e
within IFRS S2: Climate-related Disclosures
Related & explore
Climate-related risks and opportunities → CardIdentification inputs and industry topics → CardObjective →Business model and value chain impact → CardStrategy response and transition plan → Card
Browse all disclosures →
More in IFRS S2 → Browse full catalogue → Disclosure Library home → Search all disclosures →
FAQ
Questions this page answers
For s2-29-e, what data do I need to gather before I start drafting the disclosure?+−
The page says to prepare five datapoints: capital spend deployed, funding deployed, investment deployed, impact split, and period and scope split. Use the step-by-step preparation section to turn those into a draft and keep the evidence pack ready for review.
How should I set the scope and period for s2-29-e so the numbers line up?+−
The page highlights a period and scope split as one of the datapoints to prepare, so the first job is to define what period the figures cover and how the scope is split before drafting. Keep the supporting evidence aligned to that split so the disclosure can be checked later.
Who should own the s2-29-e data collection in practice — ESG, HR, finance, or a business data owner?+−
The page is designed for sustainability/ESG managers, HR or data owners, and assurance reviewers, so ownership should sit with the people who can source and explain the underlying figures. The workbook and evidence pack are there to help you assign and track that responsibility.
What should I put in the evidence pack for s2-29-e to make it assurance-ready?+−
The page includes an evidence pack with five items for assurance readiness, alongside five assurance claims to verify. Use those materials to keep the claim, the risk, and the supporting evidence together before the draft is finalised.
What are the common mistakes people make when reporting s2-29-e?+−
The page lists common reporting gaps and mistakes, so it is meant to help you spot issues before you publish a draft. A practical use is to compare your numbers, scope split, and evidence pack against those gaps and fix anything that is incomplete or inconsistent.
How do I use the s2-29-e workbook download to prepare the disclosure?+−
The Download Centre includes a Prep & Assurance workbook in .xlsx format and a printable Library Card in .pdf. Use the workbook to organise the preparation steps, the datapoints, and the assurance evidence before turning the data into a draft.
Can I use the synthetic example on the s2-29-e page as a template for my own disclosure?+−
Yes, but only as a synthetic illustration. The page’s example is there to show how the disclosure can look in practice, including a quantitative table, so you should adapt it to your own data and keep the figures internally consistent.
What does the draft-output section give me for s2-29-e once the data is ready?+−
The draft-output section gives visualisation ideas, narrative starters, and a content-index line. That makes it easier to turn prepared data into a first-pass disclosure rather than starting from a blank page.
How do I use the 'From company reports' table for s2-29-e when I am drafting?+−
The table links to real published reports at the pages where the topic is disclosed, so it is useful for seeing how others present similar information. Treat it as a reference point for structure and presentation, not as a substitute for your own data and evidence.
Is the s2-29-e page reusable if I am also mapping to ESRS E1 (Climate Change)?+−
The page notes ESRS E1 (Climate Change) as the closest correspondence, so the data may be reusable across frameworks. Use that as a cross-check for your own mapping, but do not assume the reporting requirements are identical.
More questions this page can help with
s2-29-e disclosure checklist for capital spend deployed, funding deployed and investment deployedHow to build an evidence pack for s2-29-e climate-related disclosuress2-29-e assurance claims to verify before sign-offWhat is the period and scope split in s2-29-e and how do I document it?s2-29-e common reporting gaps and mistakes to avoidHow to use the Prep & Assurance workbook for s2-29-es2-29-e draft narrative starters and content-index line examplesWhere can I find company report examples for s2-29-e disclosure?s2-29-e synthetic example disclosure table explainedESRS E1 climate change correspondence for s2-29-e data reuseWho should own s2-29-e data collection and evidence gathering?How do I turn s2-29-e data into a first draft disclosure?
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