Mandatory Climate Reporting to be Introduced in Australia

Australia is set to introduce mandatory climate reporting for large companies and financial institutions from July 1, 2024. This initiative follows international trends and aims at enhancing transparency and accountability regarding climate-related plans and risks. The proposed requirements are aligned with international standards and will cover governance, strategy, risk management, and the disclosure of greenhouse gas emissions, including Scope 1, 2, and material Scope 3 emissions. This move reflects a global shift towards mandatory climate disclosure, with Australia joining other countries in adopting these practices.

For more detailed information, you can read the full article on Sustainability Magazine's website here.