This briefing summarises the key elements of the Treasury Laws Amendment Bill 2024: Climate-Related Financial Disclosure which makes changes to the Corporations Act 2001 that requires in scope Australian companies to disclose climate change-related financial risks and opportunities. 

The amendments require these disclosures to comply with the Australian Sustainability Reporting Standards (ASRS) developed by the Australian Accounting Standards Board (AASB). ASRS is composed of AASB S1 and S2, which respectively correspond to IFRS S1 and S2, of which AASB S1 is a voluntary standard, and AASB S2 is mandatory.

Download the briefing below.

Downloads

Topics