BusinessClimate ChangeNewsESG

Australia's New Climate Reporting Disclosures

Australia is set to introduce a mandatory climate-related financial disclosure regime, marking a significant shift in corporate reporting standards. This move aligns with global trends in climate risk management and aims to enhance transparency and accountability in how companies assess and disclose climate-related risks and opportunities.

Who Needs to Report?

The new regulations will apply to large companies and financial institutions, with specific thresholds based on revenue, market capitalisation, and the number of employees. Here’s a breakdown of who needs to report and when:

• From January 1, 2025: Large companies (500+ employees, $500M+ revenue, $1B+ assets) and asset owners with $5B+ in assets.

• From January 1, 2026: Medium-sized companies (250+ employees, $200M+ revenue, $500M+ assets).

• From January 1, 2027: Small companies (100+ employees, $50M+ revenue, $25M+ assets).

What Needs to Be Reported?

Businesses will need to disclose information on how climate change impacts their operations, strategies, and financial planning. This includes the potential risks and opportunities posed by climate change, the governance and risk management processes in place to address these challenges, and the metrics and targets used to assess and manage climate-related risks.

The disclosures must be made in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, covering four key areas: governance, strategy, risk management, and metrics and targets.

How We Can Help

Navigating these new reporting requirements can be complex and time-consuming. At Terran Industries, we specialise in helping businesses like yours meet evolving ESG regulations. Our team of experts can guide you through the process, from assessing your current climate-related risks to developing comprehensive reporting strategies that align with the new standards. 

We use a science-backed framework to ensure that your disclosures not only meet regulatory requirements but also enhance your company's resilience and competitive edge.

Don’t wait until the last minute, contact us today to start preparing for these new mandatory climate disclosures and future-proof your business.