ISSB standards have arrived in Qatar: what your company should prepare

On 26 June 2023 the International Sustainability Standards Board (ISSB), part of the IFRS Foundation, issued its first two standards: IFRS S1, on general requirements for sustainability-related financial disclosures, and IFRS S2, on climate-related disclosures. Both apply to annual periods beginning on or after 1 January 2024, wherever regulators adopt them.

Qatar has adopted them. The IFRS Foundation’s jurisdictional profile for Qatar, updated in June 2026, describes the country’s approach as “adopting ISSB Standards with limited transition”, with full adoption as the target.

Who must report, and from when

Qatar has three financial sector regulators, each with its own rules:

• Qatar Financial Markets Authority (QFMA): the Governance Code for Listed Companies, issued under QFMA Board Decision No. 5 of 2025 and in force since 17 August 2025, requires listed firms to use ISSB Standards (Article 11 and Appendix 1.4). Venture Market companies may apply them voluntarily.
• QFC Regulatory Authority (QFCRA): Rule RM/2025-1, issued on 26 June 2025, requires IFRS S1 and S2 for all Category A firms, meaning banks, insurers and discretionary investment managers.
• Qatar Central Bank (QCB): on 4 December 2025 it issued its Sustainability Reporting Framework according to ISSB Standards for banks and insurance companies.

For all three, the requirements start with the financial year beginning on or after 1 January 2026.

What the standards ask for

The standards build on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). They ask for material information about sustainability-related risks and opportunities that could reasonably be expected to affect a company’s cash flows, access to finance or cost of capital. Disclosures are organised around four areas: governance, strategy, risk management, and metrics and targets.

IFRS S2 requires disclosure of Scope 1, 2 and 3 greenhouse gas emissions, measured using the GHG Protocol. The audience is investors, lenders and other creditors rather than the general public, which is why the disclosures sit within the company’s financial reporting.

Limited flexibility in the early years

The standards themselves offer first-year reliefs, chiefly reporting on climate only and leaving out Scope 3 emissions. In Qatar, two IFRS S2 reliefs are extended by one year, to two years in total: not disclosing Scope 3, and continuing to use a measurement method other than the GHG Protocol for companies that already did.

On the other hand, QFMA guidance does not allow listed companies to publish their sustainability disclosures later than their financial statements in the first year. The two reports come out together from the start, and that is the biggest practical challenge.

What about GRI?

Many Qatari companies are used to reporting under the Global Reporting Initiative (GRI) standards. The good news is that QFMA guidance does not rule that out: a company may use GRI alongside ISSB Standards, provided it does not obscure the material information ISSB requires. Earlier work is not wasted, but on its own it is no longer enough.

A suggested plan for the first reporting year

• Quarter one: identify material climate risks and opportunities, and document how the board and its committees oversee them.
• Quarter two: close Scope 1 and 2 data for the first half, and test internal controls over that data as you would for financial figures.
• Quarter three: draft the disclosures and review them with your external auditor, since QFMA guidance requires external assurance of the sustainability report.
• Quarter four: complete the year’s data, reconcile it with the financial statements, and prepare to publish on the same date.

What this means for your company

If your company is listed, or is a bank or insurer, the question is no longer whether, but whether your data will be ready on the date of the financial statements. Start with three things: board-level oversight of climate risk, reliable Scope 1 and 2 measurement, and a clear view of the material climate risks in your sector. QFMA has published guidance in Arabic and English on how to start the journey of applying ISSB Standards, which is a useful starting point.

If your company is not listed, the effect will reach you through the value chain. The bank that lends to you has to understand the risks in its portfolio, and the listed company you supply will need data from its suppliers, especially once the Scope 3 relief ends.

The national corporate sustainability survey measures how ready Qatari companies are for this shift, and the conference on 25 March 2027 will discuss its findings. Your answers make the picture of the gap between what is required and what exists more accurate.