Q: How does ASRS mandatory climate reporting affect Australian companies?

Australia’s new mandatory climate reporting regime – the Australian Sustainability Reporting Standards (ASRS), implemented through AASB S2 – requires eligible businesses to disclose climate-related risks, opportunities, and greenhouse gas emissions with the same rigour as financial statements.

The regime is phased across three groups: Group 1 (500+ employees or $1B+ revenue or assets) reports from FY2025; Group 2 (250+ employees or $500M+ revenue or assets) from FY2026; and Group 3 (smaller listed entities) from FY2027.

Disclosures must cover four areas: governance (how your board oversees climate risk), strategy (how climate risks and opportunities affect your business), risk management (how you identify and manage climate risk), and metrics and targets (your Scope 1, 2, and 3 emissions and any net zero or reduction targets).

For Australian companies in mining, resources, agriculture, logistics, and manufacturing, the ASRS obligations are particularly significant because emissions profiles tend to be large and complex.

We help organisations assess their ASRS obligations, build the data infrastructure needed for compliant disclosure, and prepare audit-ready reports on time and at lower cost than traditional consulting approaches.