Colombian Standard Setter, IPSASB and IFAC Share Sustainability Reporting Progress at Latin American Partnership Meeting
The first 2026 meeting of the Latin American Partnership for the Promotion of Sustainability and SDG Reporting was held online on 26 March 2026. The new Chair, Mr. Oscar Nuñez del Arco, President of the National Accounting Council of Peru, moderated the meeting.
Mr. Manuel Arias, Global Head of Member Engagement and Experience at the International Federation of Accountants (IFAC), presented the current state of play, sustainability disclosures and assurance. Mr. Arias provided an overview of sustainability reporting and assurance practices across G20 countries from 2019 to 2023. He highlighted key findings from G20 economies, including a comparative analysis of the Americas region versus the European Union, the rest of Europe, the Middle East and Africa (EMEA), and the Asia‑Pacific region. The findings covered corporate reporting on environmental, social and governance (ESG) issues, assurance rates, types of firms issuing assurance reports, and the application of standards by the International Auditing and Assurance Standards Board (IAASB).
Ms. Sandra Consuelo Muñoz Moreno, Member of the Public Accounting Technical Council of Colombia (CTCP), then presented Colombia’s convergence efforts in sustainability reporting. She outlined the role, functions and due process of the CTCP. Ms. Muñoz provided an update on Colombia’s progress in sustainability reporting, including requirements and initiatives for the private sector issued by the Superintendency of Finance and the Superintendency of Companies, requirements promoted for the public sector by the General Accounting Office, and developments led by the CTCP. She explained that a multi‑stakeholder committee had recommended that adoption of ISSB standards follow a principles‑based, phased, proportional and sectoral approach. To support this, the CTCP has developed a roadmap with recommendations for establishing sustainability reporting standards in Colombia aligned with the ISSB.
Ms. Judith Apaza, Member of the International Public Sector Accounting Standards Board (IPSASB), provided an overview of the development process and specific requirements of IPSASB Sustainability Reporting Standard 1: Climate‑related Disclosures for Public Sector Entities. Ms. Apaza noted that the standard is aligned with IFRS S2 while addressing the broader needs of stakeholders and adapting terminology and operating models to the public sector. She explained the standard’s key requirements and transitional reliefs to support implementation. She outlined IPSASB’s priorities for 2026, including developing implementation materials for IPSASB SRS 1 and finalizing a standard on climate‑related disclosures for public policy programs. Finally, she presented countries currently implementing or adopting sustainability reporting standards for the public sector.
Ms. Isabel Garza Rodriguez, Programme Management Officer at the United Nations Conference on Trade and Development (UNCTAD), highlighted that UNCTAD is developing a training manual to support implementation of IPSASB SRS 1. She also announced that the World Bank has joined the Partnership as an observer. She invited Partnership members to attend the upcoming 43rd session of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), scheduled from 30 September to 2 October. Ms. Garza further informed members of the Latin American Partnership (ARL) that UNCTAD is implementing a technical assistance project to strengthen sustainability reporting in Ecuador and Peru to foster sustainable finance and investment. These countries will share their experience and results with the ARL.
Mr. Oscar Nuñez del Arco noted that IPSASB SRS 1 has been well received in the region. He then announced that the ARL Chairmanship will hold meetings with members to better understand their needs and expectations, as well as sustainability reporting developments in their countries. Before closing the meeting, he thanked all members for their active participation and announced that the next Partnership meeting will be held in early July.The meeting was attended by 67 participants (29 women) from 12 countries.
Website：https://unctad.org/meeting/meeting-regional-partnership-promotion-sustainability-and-sdg-reporting-latin-america-3
