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Australia’s first climate standards: no more waiting

With the release of Australia’s climate exposure draft, entities now have a clearer picture of what to prepare for reporting from 1 July 2024

On 23 October 2023, the Australian Accounting Standards Board (AASB) released Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information (Climate ED).

This publication analyses the Climate ED and discusses:

  • What’s happening – a summary of the three proposed Australian Sustainability Reporting Standards (ASRSs)
  • Australian focused standards – providing the key themes that are evident in the Climate ED and the background to key changes from the ISSB standards
  • Commonwealth Treasury proposals – explores the insights provided in the Climate ED about possible developments in the Federal Government’s policy development on climate-related financial disclosures
  • Comparison to global standards – a summary of the key changes from the ISSB’s standards that are important for Australian constituents to understand
  • Next steps – the AASB’s request for feedback and what to do now.


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