asic.gov.au From 1 January 2025, many large Australian businesses and financial institutions will need to prepare annual sustainability reports containing mandatory climate-related financial disclosures, following the passage of a major bill through Parliament.
The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) passed Parliament on 9 September 2024 and received Royal Assent on 17 September 2024.
ASIC Commissioner Kate O’Rourke urged those entities captured by the rollout to proactively engage with these mandatory climate reporting requirements.
‘Large businesses and financial institutions should ensure that they implement appropriate governance arrangements and sustainability record-keeping processes ahead of the mandatory climate reporting requirements taking effect from 1 January 2025,’ said Commissioner O’Rourke.
‘This is a significant reform that will have far-reaching implications for many of our key stakeholders. ASIC recognises there will be a period of transition as organisations develop the capabilities required to comply. We will take a proportional and pragmatic approach to supervision and enforcement as industry adjusts to these new requirements.’
…
Read Full Article Here…(asic.gov.au)
Home | Caravan to Midnight (zutalk.com)
Live Stream + Chat (zutalk.com)
