The Australian Government is committed to introducing internationally-aligned mandatory climate-related financial reporting for large businesses and financial institutions and the AASB has, therefore, decided to use the work of the ISSB as a foundation, with modifications for Australian matters and requirements where necessary to meet the needs of Australian stakeholders.

ED SR1 includes three draft Australian Sustainability Reporting Standards (ASRS Standards):

1. [draft] ASRS 1 General Requirements for Disclosure of Climate-related Financial Information, developed using IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information as the baseline but with a scope limitation to climate-related financial disclosure;
2. [draft] ASRS 2 Climate-related Financial Disclosures, developed using IFRS S2 Climate-related Disclosures as the baseline; and
3. [draft] ASRS 101 References in Australian Sustainability Reporting Standards, developed as a service standard that would be updated periodically to list the relevant versions of any non-legislative documents published in Australia and foreign documents that are referenced in ASRS Standards.

Please click to access the exposure draft on the AASB website.