The introduction of a mandatory climate-related financial disclosure regime in Australia (for financial years starting on or after 1 January 2025) will require companies to disclose how climate-related issues are embedded within their governance approach, along with their strategy, risk management, and metrics and targets.
The two sides of governance in climate-related reporting explores the role of governance in two dimensions:
- Governance of climate risks and opportunities as required by the proposed Australian Sustainability Accounting Standards (ASRS standards)
- Governance of reporting to enable robust disclosure and manage reporting risk For many organisations, the transition represents a significant uplift in the amount of disclosures that an entity must make.