Mandatory Climate Reporting - Are you ready?

Starting in 2025, Australian companies will be required to adhere to climate-related financial disclosure standards, with full implementation expected by 2027. The new climate disclosure standard, AASB S2, aligns with the International Sustainability Standards Board (ISSB)’s climate standards, IFRS S2. This represents the most significant shift in corporate reporting in decades, emphasising transparency around climate-related risks and opportunities.

Eligibility Criteria:

This regulation applies to businesses that meet at least two of the following criteria:

  • Consolidated revenue exceeding $50 million

  • Consolidated gross assets of $25 million or more

  • Workforce of 100 or more employees

What Companies Must Disclose

Organisations will need to provide comprehensive insights into how climate-related factors impact their business. This includes:

  • Governance: Structures and processes overseeing climate risks and opportunities

  • Strategy: How climate considerations influence business planning and resilience

  • Risk Management: Identification and management of climate-related risks

  • Metrics and Targets: Reporting on greenhouse gas emissions (Scope 1 and Scope 2) and progress toward net-zero goals

Key Disclosure Areas:

  • Climate-related risks and opportunities

  • Greenhouse gas emissions data

  • Climate governance and oversight

  • Emissions reduction targets and progress

  • Transition plans aligned with achieving net-zero emissions

As these requirements evolve, companies will be encouraged to take strategic actions aimed at reducing emissions, demonstrating accountability, and enhancing transparency to stakeholders.

We’ve got your business covered

  • Governance

    Establishing effective Climate Risk governance across the organisation including board oversight, management processes and disclosure practices.

  • Strategy

    Identifying the actual and potential impacts of climate-related risks (and opportunities) on your business, strategy and financial planning.

  • Risk Management

    Identification of climate risks, their integration into existing risk management processes, scenario analysis, resilience planning and risk management disclosures.

  • Metrics & Targets

    Metrics and targets used to assess and manage relevant climate related risks and opportunities, including a comprehensive Greenhouse Gas assessment of your organisation

  • Education

    Climate Risk training for your key personnel to ensure informed strategic decisions, enhance resilience against climate-related threats, and capitalise on emerging opportunities in a rapidly changing business landscape.

  • Get Started Now

    If you meet the reporting requirements, we recommend beginning preparations as early as possible and to build up capability over the roll-out phases.