industry
All
Location
Australia
Status
In effect
Overview
In September 2024, the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 was enacted, amending the existing Australian Securities and Investment Commission Act 2001 and the Corporations Act 2001 to now require large businesses and financial institutions to include climate-related disclosures in their annual reports. Companies covered by these standards are categorized into three groups based on company size. There is a phase-in compliance timeframe for entities of different sizes.
Requirements
Report climate-related risks and opportunities
Report scope 1 and scope 2 emissions
Set climate targets and report metrics
Disclose risk management strategies and processes
Affected Companies
Revenue thresholds
More than AUD 330 million
Company size
More than 500 employees
Company Type
Publicly listed and private
Geography
Australia
industry
All
Status:
timeline for compliance
Reporting requirements for larger entities (group 1) will begin in January 2025. Medium-sized companies (group 2) will be required to report the following year, and smaller entities (group 3) will be required to report in 2027–2028.
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