As the national accountancy body, ICATT recognises the growing imperative for high-quality, globally comparable sustainability reporting, especially for markets like ours that are deeply interconnected with international business/stakeholders.

We understand the increasing importance of robust, comparable, and transparent sustainability reporting. We recognize that these standards, IFRS S1, which sets out general requirements for sustainability-related financial information, and IFRS S2, focusing specifically on climate-related disclosures, are critical for investors and the wider market in making informed decisions.

At this time, while the IFRS Sustainability Disclosure Standards S1 and S2 are not mandatory in Trinidad and Tobago, ICATT fully supports the direction and intent of these standards. We see them as a vital step toward building trust, transparency, and resilience in the financial ecosystem.

Our commitment is clear: we are actively working toward adoption of these standards in a way that is practical, context-sensitive, and aligned with the country and region’s development goals.

ICATT intends to finalise a clear position on the implementation of S1 and S2 by the end of 2026. This will be informed by consultation with key stakeholders, regulators, preparers, auditors, and the wider business community. As for our next steps, we are actively:

• Continuing our stakeholder engagement: We are holding discussions, workshops, and soliciting feedback to understand the challenges and opportunities associated with implementing these standards in our local context.
• Monitoring international developments: We are closely tracking how other jurisdictions are approaching the adoption and implementation of IFRS S1 and S2, learning from global best practices.
• Developing guidance and resources: To support our members and the broader business community, we are working on educational materials and practical guidance to facilitate the voluntary adoption and prepare for future mandatory requirements.

In closing, ICATT recognises the vital role that professional accountants play in advancing the sustainability agenda. As trusted advisors, stewards of information, and champions of transparency, accountants are uniquely positioned to bridge financial and non-financial reporting, ensuring that sustainability disclosures are credible, consistent, and decision useful. We remain committed at ICATT to supporting our members in building the competencies required to meet this responsibility and to strengthening the profession’s contribution to sustainable development and public trust.