Actuaries break down New Accounting Standards by IFRS17, Leading Insurers chime in.
IFRS 17, the global insurance accounting standard, took effect in 2023, with India aligning through Ind AS 117, issued in August 2024.
Sustainability • Finance • Technology • Governance
IFRS 17, the global insurance accounting standard, took effect in 2023, with India aligning through Ind AS 117, issued in August 2024.
The UAE adopted International Financial Reporting Standards (IFRS) as the mandatory framework for mainland companies under Federal Law No. 32 of 2021 (Commercial Companies Law). Unlike some jurisdictions with customized IFRS versions, the UAE requires full IFRS compliance as issued by the International Accounting Standards Board (IASB).
India’s sustainable finance ecosystem is evolving beyond green bonds toward a broader ESG-focused approach. In June 2025, SEBI introduced a landmark framework expanding ESG debt securities to include social, sustainability, and sustainability-linked bonds. Aligned with global standards such as ICMA Principles and the ASEAN Taxonomy, the framework reshapes how issuers and investors approach sustainable finance in India.
EFRAG has introduced a simplified ESRS framework aimed at reducing the reporting burden under CSRD. The revised standards cut mandatory disclosures and emphasize decision-relevant information, enabling organizations across the EU to streamline sustainability reporting while maintaining regulatory integrity.
The UK’s Financial Conduct Authority has proposed new regulations for ESG ratings providers to improve transparency, governance, and trust. The framework mandates clearer disclosure of methodologies, stronger internal controls, conflict-of-interest management, and a UK presence for supervisory oversight.
The European Commission has proposed reforms to simplify the Sustainable Finance Disclosure Regulation. The overhaul shifts focus toward product-level transparency, introduces clearer ESG product categories, and strengthens anti-greenwashing measures.
SAM Corporate has officially launched SAMESG® Lite, a streamlined emissions and ESG reporting solution designed for small and medium enterprises. The platform offers standardized emission templates, DEFRA-based calculations, cloud-based deployment, and ready-to-share reports.
The IFRS17 automation engine has been enhanced with faster reconciliation cycles, improved scenario modeling, greater transparency, and automated journal processing. Early adopters reported up to a 40% reduction in reporting timelines.
SAM Corporate showcased its unified ESG, Finance, and Risk ecosystem at the Singapore FinTech Festival. The platform attracted strong interest from global banks, regulators, and sustainability leaders seeking enterprise-grade ESG transformation.