Mandatory Climate Related Financial Disclosure
1 December 2023
The Australian Accounting Standards Board (AASB) has invited feedback on three exposure drafts of climate-related reporting standards by 1 March 2024 ahead of mandatory reporting proposed to commence from 1 July 2024 for large companies. This follows earlier consultation between Treasury and stakeholders on mandatory reporting and legislation amending the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) to introduce mandatory climate-related reporting requirements (see our briefing "Mandatory Climate Related Financial Disclosure is Coming for Australia"). The legislation amending the ASIC Act was assented to on 27 November 2023.