A new era of sustainability reporting
Understanding Australia’s mandatory sustainability reporting framework effective January 2025
The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 became law on 18 September 2024 and is the enabling legislation providing the legislative framework for the new Australian Sustainability Reporting Standards (ASRS).
The first two ASRSs were issued by the Australian Accounting Standards Board (AASB) on 20 September 2024 with an effective date from 1 January 2025.
This publication:
Provides background to the new reporting framework
Explains the Australian regulatory requirements, including the Australian enabling legislation, phase-in of reporting, reporting relief, assurance requirements, the location and timing of climate disclosures, the modified liability framework and directors’ declaration
Explores the Australian Sustainability Reporting Standards (ASRSs), including differences to IFRS Sustainability Disclosure Standards
- Works through the requirements of IFRS Sustainability Disclosure Standards
- Provides helpful next steps in preparing for implementation, explains the role of ASIC as regulator and provides links to key resources.
Download the publication to learn more.
Also available is A director’s guide to mandatory climate reporting (Version 2), which is an updated co-authored publication of the Australian Institute of Company Directors, Deloitte and MinterEllison.
