Australia is planning to introduce mandatory reporting on climate related financial topics starting 2024.
It will start with large companies and then smaller businesses will be "added over the following three years.
The current proposal/paper concentrates on core issues such as governance, strategy, details risks and opportunities and metrics & targets. Scope 1 and 2 and material Scope 3 emissions are to be included in the report. The step-wise introduction regarding the size of company will be based on employee number +500, +200 and +100 in addition to numbers on revenue and assets.
The consultation paper can be found here.
The Government has committed to ensuring large businesses and financial institutions provide Australians and investors with greater transparency and accountability when it comes to their climate-related plans, financial risks, and opportunities. As part of this commitment, the Government will introduce standardised, internationally-aligned reporting requirements for businesses to make disclosures regarding governance, strategy, risk management, targets and metrics – including greenhouse gasses.
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