Australian Government consults on climate-related financial disclosure legislation
12 Jan 2024
The Treasury of the Australian Government has published an exposure draft legislation for corporate climate-related financial disclosure requirements. The comment period for the exposure draft legislation and accompanying explanatory materials ends on 9 February 2024.
The legislation would amend parts of the Australian Securities and Investment Commissions Act 2001 and the Corporations Act 2001 (Cth) and seeks to introduce mandatory requirements for large businesses and financial institutions to disclose their climate-related risks and opportunities.
It follows an exposure draft by the Australian Accounting Standards Board (AASB) published in October 2023 that used the work of the International Sustainability Standards Board (ISSB) as a foundation, with modifications for Australian matters and requirements where necessary to meet the needs of Australian stakeholders.
For more information and to access the exposure draft legislation, see the consultation on the Australian Government website.
