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Sustainability Disclosure Hub

• Australian Sustainability Reporting Standards

  Australia’s mandatory climate-related reporting regime began on 1 January 2025.

  The Australian Accounting Standards Board has produced the voluntaryAASB S1 General Requirements for Disclosure of Sustainability-related Financial Information and the mandatoryAASB S2 Climate-related Disclosures.

  The first wave of companies required to comply with AASB S2 includes those that meet at least two of three thresholds: consolidated gross assets of $1 billion; consolidated revenue of $500 million; or 500 employees. Other large companies will be phased in progressively in 2026 and 2027. This marks a critical shift as sustainability and financial reporting are integrated for the first time.

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• Aotearoa New Zealand Climate Standards

  Aotearoa New Zealand introduced itsClimate-Related Disclosure Standards on 1 January 2023. These standards, issued by the External Reporting Board (XRB), require around 200 listed issuers and large financial institutions to produce climate-related disclosures. The goal of these standards is to:

  • Ensure that the effects of climate change are routinely considered in business, investment, lending and insurance underwriting decisions
  • Help climate reporting entities better demonstrate responsibility and foresight in their consideration of climate issues
  • Lead to more efficient allocation of capital, and help smooth the transition to a more sustainable, low emissions economy.

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• International Sustainability Standards Board (ISSB)

  Established by the International Financial Reporting Standards (IFRS) Foundation, the ISSB develops standards that set a high-quality, comprehensive global baseline of sustainability disclosures, focused on the needs of investors and the financial markets.

  • The two inaugural standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, were issued in June 2023.
  • IFRS S1 covers the disclosure of information about a company’s sustainability-related risks and opportunities with core content on its governance, strategy, risk management, metrics and targets.
  • IFRS S2 requires companies to disclose information about their climate-related risks and opportunities, including physical and transition risks and their potential impact on the move toward a low-carbon economy.

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• Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS)

  Australian and New Zealand companies headquartered locally but with significant operations or presence in Europe may need to comply with theCorporate Sustainability Reporting Directive (CSRD) and theEuropean Sustainability Reporting Standards (ESRS). This may include companies with EU-based subsidiaries or branches that exceed certain turnover thresholds and those listed on EU-regulated markets.

  The CSRD requires companies in the EU to publicly disclose information and data around environmental, social affairs and governance (ESG) matters, using the ESRS as a reporting framework.

  The CSRD supports theEuropean Green Deal, a set of policy measures intended to combat the climate crisis by transforming the EU into a modern, resource-efficient and competitive economy, and achieving net zero emissions by 2050.

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