EFRAG has published its Endorsement Advice Letter to the European Commission regarding the IASB’s Amendments to IFRS 9 and IFRS 7 on Contracts Referencing Nature-dependent Electricity.
The IASB issued these Amendments on December 18, 2024, following their initial exposure draft (ED/2024/3) published in May 2024.
The Amendments aim to improve the financial reporting of physical and virtual contracts tied to nature-dependent electricity through narrow-scope updates to:
- The Own-use Assessment
- Hedge Accounting Requirements
- Disclosure Requirements
For more information [here]