Why are so many organisations struggling with sustainability reporting even before their first S2 statement is due? In this episode, Wayne and Siobhan unpack the biggest myths they’re seeing across the market and explain why these misunderstandings are creating unnecessary work, bad advice, and real reporting risks.

They break down the areas causing the most confusion: whether S2 is only about emissions, how greenhouse gas boundaries differ from financial reporting, the truth about transition plans, what materiality really means for Group 1–3 entities, and why double materiality does not apply to S2 Sustainability Reporting. You’ll also hear practical insights on industry metrics, value chain data, scenario analysis, and the assurance implications that many preparers are missing.

Whether you're preparing your first climate statement or reviewing one, this conversation gives you clear, practical steps to approach S2 Sustainability Reporting confidently and avoid the traps that are already emerging in the market.

🎧 In this episode, you’ll learn:

• Why S2 is not just about emissions
• How GHG boundaries can differ from financial reporting
• When a transition plan is actually required
• Why double materiality is not part of S2
• How to approach scenario analysis, industry metrics, and value chain data

Financial Reporting Conversations is brought to you by Basford Consulting helping professionals go beyond compliance and get financial reporting right.

For technical insights, training, and resources that make the unknowns in financial reporting known, visit basfordconsulting.com

🔗 Connect with us:
LinkedIn: Wayne Basford & Judith Leung
YouTube: @BasfordConsulting
Website: basfordconsulting.com