Preparing for climate reporting: Insights from small ASX firms
The Australian Government has made a proposal to introduce mandatory climate-related financial disclosures for a large number of companies in Australia, whether listed or unlisted. With this proposed mandate looming, how prepared are these companies to report according to the disclosure standards?
The climate-related financial disclosures proposal follows on from the Corporate Sustainability Reporting Directive (CSRD) that was entered into force and introduced specific climate disclosure requirements throughout Europe. In the same year, the International Sustainability Standards Board issued IFRS S1 and S2 that are progressively endorsed by different countries around the world, including Australia.
In Australia, the proposed reporting period for climate-related financial disclosures would start as early as 1st July 2024 for companies meeting two of these three criteria:
- consolidated revenue ≥ $500 million;
- consolidated gross assets ≥ $1 billion; or
- number of employees ≥ 500.
This led our Mazars experts to investigate how prepared these companies are to report according to the proposed Australian climate-related financial disclosure standards.
Our research is based on the 2023 reporting (up to 10 January 2024) of 52 Australian Securities Exchange (ASX) listed companies with a market capitalisation between $1 billion and $1.5 billion.
Download our full report below to learn how small ASX listed companies have made progress in their climate reporting in Australia.
Authors: Damien Lambert & Corentin Cachard
Published: 10/04/2024
Our experts
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