Carbon Accounting and Corporate Disclosure: Assessing the Readiness of Listed Firms for Global Sustainability Standards (ISSB/IFRS S1 & S2) in Ghana and Comparative Insights from Nigeria and South Africa.

Vivianne Akosua Adu Boakye; Jill Achia Kodua Boafo

doi:10.36948/ijfmr.2025.v07i06.63144

Carbon Accounting and Corporate Disclosure: Assessing the Readiness of Listed Firms for Global Sustainability Standards (ISSB/IFRS S1 & S2) in Ghana and Comparative Insights from Nigeria and South Africa.

Author(s)	Ms. Vivianne Akosua Adu Boakye, Ms. Jill Achia Kodua Boafo
Country	Ghana
Abstract	The release of IFRS Sustainability Standards, IFRS S1 and IFRS S2, by the International Sustainability Standards Board in 2023, therefore, presents a global move toward harmonized sustainability reporting. However, preparedness for the implementation of such standards remains highly varied, especially between developing economies. Within this context, the study assesses the preparedness of listed firms in Ghana towards the adoption of IFRS S1 and S2, focusing on carbon accounting and corporate disclosure practices, while providing comparative insights from Nigeria and South Africa. The study, through content analysis of reports of 60 listed firms over the period 2018-2024 and a survey of 102 professional accountants and regulators, assesses the level of compliance of existing sustainability reporting with the requirements of ISSB. The results indicate that firms in Ghana show a moderate state of preparedness, mean disclosure index of 46%, which, however, is constrained by a lack of technical expertise, weak enforcement, and inconsistent data on GHG emissions. In comparison, firms in South Africa present higher levels of preparedness, at 78%, due to mandatory disclosure frameworks, alongside professional capacity. Firms in Nigeria equally present similar challenges as those of Ghana, at 48%. Results of regression analysis identify firm size, audit firm type, and industry sector as significant determinants of preparedness levels. The study, therefore, concludes that successful adoption of IFRS S1 and IFRS S2 within sub-Saharan Africa requires appropriate institutional capacity and regulatory coordination. Policy implications highlight the need for professional training, clearer regulatory mandates, and harmonized regional frameworks.
Keywords	carbon accounting, sustainability reporting, ISSB, IFRS S1, IFRS S2, Ghana, Nigeria, South Africa, disclosure readiness.
Field	Business Administration
Published In	Volume 7, Issue 6, November-December 2025
Published On	2025-12-11
DOI	https://doi.org/10.36948/ijfmr.2025.v07i06.63144

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Carbon Accounting and Corporate Disclosure: Assessing the Readiness of Listed Firms for Global Sustainability Standards (ISSB/IFRS S1 & S2) in Ghana and Comparative Insights from Nigeria and South Africa.

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