- Pamela Searle, Director of Market Development at the CMF, emphasized that the transition to international sustainability disclosure standards (IFRS S1 and S2) will lead to more consistent, comparable, and useful information for decision-making while also strengthening the resilience of financial institutions.
- Implementation of IFRS S1 and S2 begins in 2027 based on information from fiscal year 2026.
April 30, 2026 - The Financial Market Commission (CMF) announces that the 1st Workshop Cycle on Preparing 2026 Integrated Annual Reports concluded today. The Santiago Chamber of Commerce (CCS) and Governart sponsored this initiative.
The session, aimed at directors and executives responsible for preparing Integrated Reports, was held to address requirements related to managing and reporting on ESG practices under the Commission's General Rule No. 519, which adopts the international IFRS S1 and S2 standards.
One of the event's objectives was to encourage companies to begin preparing their Integrated Annual Reports in advance since implementation of IFRS S1 and S2 begins in 2027 based on information from fiscal year 2026. The program consisted of three in-person sessions held on April 21, 23, and 30 at CCS offices.
Pamela Searle, Director of Market Development at the CMF, made a presentation during the event's inaugural session about the Commission's role as a regulator and supervisor of the Chilean financial system. Searle stressed that risks linked to climate change and sustainability are an integral part of the CMF's legal mandates - they have a broad impact on financial stability, market behavior, and financial market development.
"The adoption of these ESG standards should result in more resilient organizations that are better equipped to manage risks and capitalize on opportunities in an increasingly demanding environment," Pamela Searle said.
Along this line, Verónica Torres, Sustainability Manager at the CCS, added: "At the CCS, we are committed to promoting capacity building in the business community, leading by example and creating opportunities like this one to help companies move forward with the adoption of the new IFRS S1 and S2 international standards for sustainable disclosure. This involves not only reporting but also managing risks, opening business opportunities, and making better decisions."
Regarding the regulatory framework, the CMF's Director of Market Development highlighted the evolution of General Rule No. 461 and its update to fully incorporate the IFRS S1 and IFRS S2 international standards, published by the International Sustainability Standards Board. "Convergence toward these international standards allows us to move toward higher-quality information that is more comparable and aligned with the needs of global investors," she said.
Pamela Searle also noted that the CMF will continue monitoring the development of international initiatives and working collaboratively with the private sector to advance improved sustainability reporting.
