Preparing for Australia’s Mandatory Climate-Related Financial Disclosures
Start Small and Use What You Have
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August 09, 2024
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Mandatory climate disclosure is coming to Australia. Businesses should see these new regulatory requirements as an opportunity to use climate reporting to drive business value. Beginning now and taking small steps will help you to be ready when reporting becomes compulsory from 1 January 2025.1
Many companies wait until mandatory climate reporting is imminent to pull together a tick-box governance and reporting process. At FTI Consulting, we advise our clients to start preparing for climate reporting as soon as possible to develop climate risk governance, management and reporting processes that deliver value to an organisation.
While climate reporting can be treated as a compliance matter, it can also be used for a strategic, governance and reporting refresh, assessing for new business risks, adding new metrics for business performance and developing reporting that will interest a wide range of stakeholders.
Our ClimateReady team can help you with mapping reporting requirements, identifying gaps in your reporting and developing a roadmap, peer benchmarking and assessment, and an organisational readiness assessment. With an expansive range of capabilities and industry experience, we deliver authentic, impactful solutions tailored to your unique business needs and stakeholder priorities.
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Footnotes:
1: Mandatory climate reporting will be implemented using a phased approach, with three groups of companies reporting between 1 January 2025 - 1 July 2027. Reporting will start with large emitters and large companies, as per specific Treasury thresholds, subject to legislation passing: Link
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August 09, 2024
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