A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com

In this episode, we highlight the proposed amendments to IFRS S2, the climate-related disclosure standard from the International Sustainability Standards Board (ISSB). Learn how the changes aim to clarify greenhouse gas (GHG) reporting, specifically scope 3 emissions, and the potential implications they have on reporting.

In this episode, we discuss:

• 0:57 – Overview of IFRS S2, the role of the Transition Implementation Group, and what’s driving the amendments
• 3:52 – Clarifying the definition of scope 3 category 15 (investments) emissions
• 12:23 – Industry classification requirements for entities engaging in commercial banking and insurance-related activities
• 16:28 – How to apply jurisdictional relief for GHG measurement methodology
• 19:47 – Global warming potential (GWP) values and jurisdictional relief
• 22:55 – Next steps for the exposure draft and recommendations for reporters in the interim

Looking for the latest developments in sustainability reporting?

• Refer to our publication on the ISSB’s exposure draft proposing amendments to IFRS S2
• Read PwC’s Sustainability reporting guide
• Check out other episodes in our sustainability reporting podcast series

About our guest

Marcin Olewinski is a PwC Assurance practice partner with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within the National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We continue our lease accounting miniseries with an episode focused on modifications and terminations. From determining whether a change results in a new lease to navigating remeasurement requirements, we share practical insights and key reminders for applying the guidance.

In this episode, we discuss:

• 1:12 – How to determine if a lease modification should be treated as a new lease or a remeasurement of the existing lease
• 10:31 – Key accounting steps in a lease modification and remeasurement
• 17:49 – Differentiating a lease termination from a modification
• 20:59 – Example of a lease modification for downsizing leased space
• 24:07 – Modifications to combined versus separate lease contracts

For more information, see chapter 5 of our Leases guide. You can also listen to the first episode in this series, Lease accounting reset - Presentation and disclosure. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership.

About our guests

Marc Jerusalem is a managing director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications.

Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows as well as the application and interpretation of the accounting guidance related to financing and leasing transactions.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com

The European Commission’s Omnibus package continues to make its way through the legislative process. In this episode, we cover the most recent developments, including insights from recently leaked information and how businesses are reacting to potential changes.

In this episode, we discuss:

• 2:53 – The legislative status of the content proposal and areas of debate
• 7:40 – Preparer feedback on the proposed changes in the content proposal
• 10:13 – Leak of Delegated Acts proposed to be deleted: Highlights and implications
• 14:46 – Changes to expect in the forthcoming ESRS drafts and timing of the comment period
• 17:10 – Themes in feedback shared with EFRAG
• 23:22 – Potential ESRS reliefs: materiality expansion, use of estimates, and grace periods for acquisitions

Get caught up on the EU Omnibus package:

• Sustainability now: EU Omnibus in motion – May 2025 update
• Sustainability now: Navigating "Omnibus" uncertainty
• European Commission publishes ‘Omnibus’ proposals

Looking for the latest developments in sustainability reporting?

• Read PwC’s Sustainability reporting guide
• Check out other episodes in our sustainability reporting podcast series

About our guest

Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.