Volume 6—Multiline and Specialty Retailers & Distributors

Industry-based Guidance on implementing

Climate-related Disclosures

June 2023

IFRS S2

IFRS

® Sustainability Disclosure Standard

International Sustainability Standards Board

This Industry-based Guidance accompanies IFRS S2 Climate related Disclosures (published

June 2023; see separate booklet) and is issued by the International Sustainability

Standards Board (ISSB).

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IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

Introduction

This volume is part of the Industry-based Guidance on Implementing IFRS S2 Climate-related

Disclosures. This guidance suggests possible ways to apply some of the disclosure requirements in

IFRS S2 but does not create additional requirements.

This volume suggests possible ways to identify, measure and disclose information about

climate-related risks and opportunities that are associated with particular business

models, economic activities and other common features that characterise participation in

this industry.

This industry-based guidance has been derived from Sustainability Accounting Standards

Board (SASB) Standards, which are maintained by the International Sustainability

Standards Board (ISSB). The metric codes used in SASB Standards have been included for

ease of reference. For additional context regarding the industry-based guidance contained

in this volume, including structure and terminology, application and illustrative

examples, refer to Section III of the Accompanying Guidance to IFRS S2.

IFRS S2 INDUSTRY-BASED GUIDANCE

Volume 6—Multiline and Specialty Retailers & Distributors

Industry Description

The Multiline and Specialty Retailers & Distributors industry encompasses a variety of

retailing categories such as department stores, mass merchants, home products stores

and warehouse clubs, as well as a smaller segment of distributors like electronics

wholesalers and automotive wholesalers. These entities (except for the distribution

segment) commonly manage global supply chains to anticipate consumer demands, keep

costs low and keep products stocked in their brick-and-mortar storefronts. This is a

highly competitive industry in which each category generally has a small number of

important players characterised by generally low margins. The relatively substitutable

nature of retail makes entities in this industry especially susceptible to reputational risks.

Note: Separate standards exist for the Food Retailers & Distributors (FB-FR), Drug Retailers

(HC-DR), E-Commerce (CG-EC) and Apparel, Accessories & Footwear (CG-AA) industries.

Retail entities involved in food or drug retail, e-commerce, or apparel, accessories and

footwear manufacturing should also consider the disclosure topics and metrics outlined

in these other standards.

Sustainability Disclosure Topics & Metrics

Table 1. Sustainability Disclosure Topics & Metrics

TOPIC

METRIC

CATEGORY

UNIT OF

MEASURE

CODE

Number of: (1) retail locations and (2) distribution centres

Quantitative

Number

CG-MR-000.A

Total area of: (1) retail space and (2) distribution centres

Quantitative

Square

metres (m²)

CG-MR-000.B

Energy Management in Retail & Distribution

Topic Summary

Entities in this industry require significant amounts of energy for retail facilities and

warehouses. An increasing number of greenhouse gas (GHG) emissions regulations and

incentives for energy efficiency and renewable energy may result in price increases for

conventional electricity sources while making alternative sources more cost-competitive.

Fossil fuel-based energy production and consumption contribute to significant

environmental impacts, including climate change and pollution. Energy sourcing

decisions can create trade-offs related to energy supply costs and operational reliability.

Overall energy efficiency and access to alternative energy sources are becoming

increasingly important for entities to manage. Efficiency in this area can have financial

IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

implications through direct cost savings, which are particularly beneficial in this low-

margin industry.

Metrics

CG-MR-130a.1. (1) Total energy consumed, (2) percentage grid electricity and

(3) percentage renewable

The entity shall disclose (1) the total amount of energy it consumed as an

aggregate figure, in gigajoules (GJ).

1.1

The scope of energy consumption includes energy from all sources,

including energy purchased from external sources and energy produced by

the entity itself (self-generated). For example, direct fuel usage, purchased

electricity, and heating, cooling and steam energy are all included within

the scope of energy consumption.

1.2

The scope of energy consumption includes only energy directly consumed

by the entity during the reporting period.

1.3

In calculating energy consumption from fuels and biofuels, the entity shall

use higher heating values (HHV), also known as gross calorific values

(GCV), which are measured directly or taken from the Intergovernmental

Panel on Climate Change (IPCC).

The entity shall disclose (2) the percentage of energy it consumed that was

supplied from grid electricity.

2.1

The percentage shall be calculated as purchased grid electricity

consumption divided by total energy consumption.

The entity shall disclose (3) the percentage of energy it consumed that was

renewable energy.

3.1

Renewable energy is defined as energy from sources that are replenished

at a rate greater than or equal to their rate of depletion, such as

geothermal, wind, solar, hydro and biomass.

3.2

The percentage shall be calculated as renewable energy consumption

divided by total energy consumption.

3.3

The scope of renewable energy includes renewable fuel the entity

consumed, renewable energy the entity directly produced and renewable

energy the entity purchased, if purchased through a renewable power

purchase agreement (PPA) that explicitly includes renewable energy

certificates (RECs) or Guarantees of Origin (GOs), a Green‐e Energy

Certified utility or supplier programme, or other green power products

that explicitly include RECs or GOs, or for which Green‐e Energy Certified

RECs are paired with grid electricity.

3.3.1

For any renewable electricity generated on-site, any RECs and GOs

shall be retained (not sold) and retired or cancelled on behalf of the

entity for the entity to claim them as renewable energy.

IFRS S2 INDUSTRY-BASED GUIDANCE

3.3.2

For renewable PPAs and green power products, the agreement shall

explicitly include and convey that RECs and GOs be retained or

replaced and retired or cancelled on behalf of the entity for the

entity to claim them as renewable energy.

3.3.3

The renewable portion of the electricity grid mix that is outside of

the control or influence of the entity is excluded from the scope of

renewable energy.

3.4

For the purposes of this disclosure, the scope of renewable energy from

biomass sources is limited to materials certified to a third-party standard

(for example, Forest Stewardship Council, Sustainable Forest Initiative,

Programme for the Endorsement of Forest Certification or American Tree

Farm System), materials considered eligible sources of supply according to

the Green-e Framework for Renewable Energy Certification, Version 1.0 (2017) or

Green-e regional standards, or materials eligible for an applicable

jurisdictional renewable portfolio standard.

The entity shall apply conversion factors consistently for all data reported under

this disclosure, such as the use of HHVs for fuel usage (including biofuels) and

conversion of kilowatt hours (kWh) to GJ (for energy data including electricity

from solar or wind energy).

IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

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Volume 6—Multiline and Specialty Retailers & Distributors

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