Are you prepared for mandatory climate reporting in Australia?
If the answer is ‘no’, then you’re not alone.
RSM conducted an independent study to find out if corporate Australia is ready for the greatest corporate disclosure challenge of our time.
Our results show that corporations are spending too much time on sustainability marketing, when they need sustainability accounting.
Australia's corporate landscape is on the brink of a transformation, with new climate-reporting standards set to reshape the way companies operate. Companies must start preparing now for mandatory disclosure schemes and the transition to a net-zero economy.
Inside the report:
- A comprehensive overview of Australia's new reporting requirements for climate-related financial disclosures
- Recommendations for navigating the evolving reporting landscape, unpacking how you can actually deliver on these new requirements.
- First-of-its-kind research into corporate sustainability reporting practices covering a broad sample of 1650 companies, with a comprehensive analysis beyond ASX top 100 across public and private sector.
- Case studies from Australian companies who are already one step ahead in their climate risk mitigation and reporting compliance
What is changing?
Starting from 2024/2025, reporting entities will be required to disclose material physical risks of climate change and transition risks associated with moving towards a net-zero economy. Failure to implement robust governance frameworks for climate-risk reporting could lead to penalties for both companies and their directors.
As more companies are required to report their financial climate risks, this requirement will extend throughout the supply chain and affect the broader economy.