Contributions of frameworks to the advancement of public sector sustainability standards in the Volta Region are as follows:

(a) International Sustainability Standards Board (ISSB)
The International Sustainability Standards Board (ISSB), established by the International Financial Reporting Standards Foundation (IFRS Foundation), has assumed responsibility for the standards issued by the Sustainable Accounting Standards Board (SASB). The ISSB is committed to maintaining, enhancing, and evolving the SASB Standards and encourages preparers and investors to continue using them.
The ISSB issued its first two Sustainability Disclosure Standards in June 2023, following an extensive consultation process. These standards build on the climate-related disclosures established by the TCFD and meet its recommendations, meaning that organizations adopting the ISSB Standards do not need to apply the TCFD recommendations separately. The two standards are the International Financial Reporting Standards on Sustainability 1 and 2 (IFRS S1 and IFRS S2):

• IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information enables entities to disclose information about all sustainability-related risks and opportunities in the short, medium, and long term. Aimed at investors, its objective is to provide a comprehensive baseline of sustainability-related financial information to meet the needs of global capital markets in the Volta Region.
• IFRS S2 Climate-related Disclosures, used together with IFRS S1, focuses on disclosing specific climate-related risks and opportunities. It integrates TCFD recommendations and specifies disclosure of information about both cross-industry and industry-specific climate-related risks and opportunities, benefiting public sector entities in the Volta Region.

(b) Global Reporting Initiative (GRI)
GRI is one of the most widely used sustainability reporting frameworks globally. It provides guidelines for reporting on economic, environmental, and social performance, covering a wide range of indicators and topics. GRI offers both comprehensive and sector-specific standards tailored to different types of organizations, including public sector entities in the Volta Region.
The GRI standards are designed as a modular system of three series of interconnected standards:

• Universal Standards apply to all organizations, outlining the purpose of GRI standards, general disclosures, and material topics, providing a structural approach for reporting information.
• Sector Standards, being developed for 40 sectors starting with those with the highest impact, list material topics and disclosures relevant for each sector, enabling more consistent reporting on sector-specific impacts.
• Topic Standards contain disclosures for specific topics, such as waste, occupational health and safety, and tax, which are relevant for public sector reporting in the Volta Region.

(c) Carbon Disclosure Project (CDP)
The Carbon Disclosure Project (CDP) is a global non-profit organization that operates a disclosure system allowing companies, cities, states, and regions to measure and manage their environmental impacts, particularly in relation to carbon emissions and climate change. Founded in 2000, CDP incentivizes organizations to disclose their environmental data and strategies for reducing carbon emissions. It focuses specifically on environmental reporting, particularly on carbon emissions and climate-related risks and opportunities, enabling public sector entities in the Volta Region to disclose their environmental data and strategies for addressing climate change and environmental sustainability.

(d) Integrated Reporting Framework (IRF)
The Integrated Reporting Framework, developed by the International Integrated Reporting Council (IIRC), now merged with the Value Reporting Foundation (VRF), aims to enhance corporate reporting by providing a holistic view of an organization’s value creation over time. Integrated reporting integrates financial, environmental, social, and governance (ESG) information into a single report. While not specifically designed for the public sector, it supports Volta Region public entities by promoting a comprehensive approach to reporting that aligns financial and sustainability performance, enhancing stakeholder understanding of long-term value creation.

(e) Task Force on Climate-related Financial Disclosures (TCFD)
The Task Force on Climate-related Financial Disclosures (TCFD) provides recommendations for disclosing climate-related financial risks and opportunities. Its framework focuses on governance, strategy, risk management, and metrics and targets related to climate change. TCFD’s recommendations are incorporated into the ISSB’s IFRS S2 standard, but they remain relevant for public sector entities in the Volta Region seeking to disclose climate-related financial impacts, enhancing transparency and supporting investor and stakeholder decision-making.