Regulations · Listed companies
QFMA Governance Code: ISSB sustainability reporting for Qatar listed companies
The QFMA Governance Code for Listed Companies requires companies listed in Qatar to report under the ISSB Standards, IFRS S1 and IFRS S2, with external assurance.
What it is
QFMA Board Decision No. 5 of 2025 issued the Governance Code for Listed Companies in the Official Gazette. It took effect immediately from 17 August 2025.
Article 11 and Appendix 1.4 of the Code require listed companies to use the ISSB Standards. The IFRS Foundation profile records no jurisdictional modifications to IFRS S1 and S2.
QFMA issued guidance for Main Market companies on how to start applying the ISSB Standards. It requires external assurance of the sustainability report under Chapter Five of the Code and refers to ISSA 5000.
The guidance does not allow the IFRS S1 relief to publish later than the financial statements in year one. Listed companies report at the same time as their accounts from the first year.
Two IFRS S2 reliefs are extended to two years: permission not to disclose Scope 3 emissions, and permission to keep a non-GHG Protocol method used before.
Who it applies to
- All companies listed on the Qatar Stock Exchange Main Market. This is mandatory.
- Venture Market companies are permitted, not required, to apply the ISSB Standards.
- Listed banks and insurers, which also fall under the QCB Sustainability Reporting Framework. Listed QFC firms also face the QFCRA rule.
Key dates
| 17 Aug 2025 | Governance Code takes effect under Board Decision No. 5 of 2025. |
|---|---|
| 1 Jan 2026 | First financial year in scope, as recorded in the IFRS Foundation Qatar profile. Check the QFMA text for your own case. |
| First report | Published with the related financial statements, with external assurance. |
| Reliefs | Scope 3 relief and the non-GHG Protocol method relief run for two years. |
What to do now
- Run a gap assessment against IFRS S1, IFRS S2 and the QFMA guidance. Start with governance and materiality.
- Lock your Scope 1 and 2 inventory now. Screen Scope 3 so the data is ready when the relief ends.
- Run at least a qualitative climate scenario analysis for year one.
- Agree the assurance scope with your external auditor early. Build data trails and controls they can test.
- Brief the board and audit committee on their ISSB duties and sign-off.
Sources
- IFRS Foundation, Qatar jurisdictional profile on use of ISSB Standards (updated June 2026)
- Qatar Financial Markets Authority, official website
- Gulf Times, QFMA issues Code of Governance for Listed Companies
- IAASB, ISSA 5000 General Requirements for Sustainability Assurance Engagements
Summary for orientation only, not legal advice. Always check the current text with the issuing authority.