WA PD - Understanding ASRS: Australia’s New Sustainability Reporting Standards

Understanding ASRS: Australia’s New Sustainability Reporting Standards

Australia’s sustainability landscape is undergoing a major shift with the introduction of the Australian Sustainability Reporting Standards (ASRS). This session will unpack the key elements of the ASRS, important deadlines, and practical steps businesses can take to ensure compliance.

The Australian Government has recently introduced Mandatory Disclosure of Climate Related Financial Information as part of the new Australian Sustainability Reporting Standards (ASRS). A large focus will be on the disclosure of climate-based risks and opportunities that may affect a company’s financial performance. The government will use a phased approach initially capturing Australia’s largest companies from the start of 2025 then expanding to include all other (proposed) groups from 2027-28 reporting year onwards. The detailed provisions are articulated in the recently published standards AASB 1 and AASB 2. The reporting requirements align closely with the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standard…