The Intersection of Climate-related Disclosures and Packaging Reporting in Corporate Responsibility

Alfred Tang

Alfred Tang

Jul 06, 20233 min read


The Intersection of Climate-related Disclosures and Packaging Reporting in Corporate Responsibility


In the current global landscape, environmental sustainability has become a paramount concern for businesses worldwide. The need to address climate change has prompted regulatory bodies to introduce guidelines and standards that aim to foster greater transparency and accountability. Two such initiatives are the IFRS S2 Climate-related Disclosures and the NEA Mandatory Packaging Reporting Guidebook. While seemingly disparate, these documents share common objectives and intertwine in the pursuit of corporate responsibility. In this article, we will explore the key points of both guidelines and discuss how businesses can align their practices with these requirements.

IFRS S2 Climate-related Disclosures:

The IFRS S2 Climate-related Disclosures is a comprehensive document that provides guidance on how organizations should disclose climate-related information in their financial statements. It emphasizes the importance of assessing and reporting the potential impact of climate change on a company's financial performance and position. By disclosing climate-related risks, opportunities, and their management strategies, businesses can enhance transparency and enable stakeholders to make informed decisions. The IFRS S2 also highlights the role of board-level governance in overseeing climate-related matters, emphasizing the need for effective risk management and long-term planning.

NEA Mandatory Packaging Reporting Guidebook:

In parallel, the NEA Mandatory Packaging Reporting Guidebook is aimed at addressing the environmental impact of packaging materials. It outlines the reporting obligations of companies that produce packaging materials, emphasizing the need for accurate and timely reporting of packaging waste generation and recycling efforts. By holding businesses accountable for their packaging waste, the guidebook aims to encourage sustainable packaging practices, reduce waste generation, and promote circular economy principles. Ultimately, this initiative seeks to minimize the environmental footprint associated with packaging materials and foster a more sustainable approach to product packaging.

The Overlapping Responsibilities:

While the IFRS S2 Climate-related Disclosures and the NEA Mandatory Packaging Reporting Guidebook target different aspects of corporate responsibility, they intersect in several key areas. Both frameworks emphasize the need for transparency and disclosure, albeit in different contexts. The IFRS S2 focuses on climate-related risks and opportunities, while the NEA guidebook centers around packaging waste. However, both demand accurate reporting and encourage companies to adopt sustainable practices.

Actionable Advice:

  • 1. Integrate climate-related disclosures into packaging reporting: Businesses should consider incorporating climate-related information into their packaging reporting processes. By highlighting the environmental impact of packaging materials and associated climate risks, companies can provide a comprehensive view of their sustainability efforts.
  • 2. Establish cross-functional teams: To effectively comply with both the IFRS S2 and the NEA guidebook, companies should establish cross-functional teams that include representatives from finance, sustainability, and operations departments. This collaboration ensures a holistic approach to reporting and enables the identification of synergies between climate-related disclosures and packaging waste management.
  • 3. Engage stakeholders: Engaging stakeholders is crucial for successful implementation of both guidelines. Businesses should proactively communicate their sustainability initiatives and progress to investors, customers, and the wider community. By transparently sharing their efforts, companies can build trust, attract responsible investors, and cultivate a positive brand image.


The convergence of climate-related disclosures and packaging reporting reflects the growing recognition of the interconnectedness between environmental factors, financial performance, and corporate responsibility. By aligning their practices with the IFRS S2 Climate-related Disclosures and the NEA Mandatory Packaging Reporting Guidebook, businesses can demonstrate their commitment to sustainability and contribute to a greener future. Integrating climate-related disclosures into packaging reporting, establishing cross-functional teams, and engaging stakeholders are actionable steps that organizations can take to navigate these overlapping responsibilities successfully. Through these efforts, businesses can not only meet regulatory requirements but also drive positive environmental change while improving their bottom line.

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