Socialsuite转发了
Most companies struggle to comprehend the new Australian Sustainability Reporting Standards #ASRS. The most pervasive mistake we hear at Socialsuite is the sole focus on GHG emissions, often going something like "yes, the Australian climate rules for GHG, but our emissions are low so we're good". Glad we partner with Ilona Marchetta to help educate Australian businesses on what the ASRS really is (spoiler: the mandatory AASB S2 on climate is effectively TCFD reporting). What's more, many do not realise that the ASRS are two separate standards: ??Voluntary?? AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (based on IFRS S1) ?? Do a materiality assessment, report on material disclosures ??Mandatory?? AASB S2 Climate-related Disclosures ?? TCFD climate disclosures including carbon footprint (Scope 1, 2, and 3) Together with Ilona, we can help you understand, prepare, and deliver on the ASRS. ? Start with our ASRS Readiness Assessment: https://lnkd.in/ee72i6vq
ESG transformation & compliant sustainability reports | GRI, IFRS (ISSB, SASB, TCFD) certified | ASRS | OCM, CAPM
For all the talk about sustainability reporting that I do during work hours, it’s generally not until I’m?at the pub that I get the honest truth from company executives about how prepared they are (or not) for Australia’s new corporate climate risk reporting legislation. The disclosures, commonly mistaken as ‘just’ emissions reporting, require companies to have completed a climate risk and opportunity assessment along their entire value chain, including scenario analysis. Reporting is to begin for the first wave of companies from the start of 2025. The Australian Sustainability Reporting Standards (ASRS) that underpin the legislation are based on the globally recognised, investor-focused ISSB standard IFRS S2 (of which I am a certified practitioner). But back to my opening par… and the lack of preparedness that persists among Australian companies. Here are three phrases I commonly hear that are tell-tale signs that a company is not prepared for the change, and these apply regardless of whether the company is required to report. “We’re not mandated to report - it doesn’t affect us” “We’re a virtual business - it doesn’t affect us” “We’re not in a high-emitting sector - it doesn’t affect us” I collaborated with Socialsuite and Tim Siegenbeek van Heukelom recently to develop an ASRS Readiness tool, I'll pop the link in the comments. To get prepared: - All publicly listed and large proprietary companies with scope 1 and 2 emissions should consider emissions accounting - All companies that rely heavily on partnerships or arrangements with publicly listed, large proprietary companies to deliver some component of their value chain should engage with those partners to understand their reporting needs - Conduct a climate risk assessment, even if just limited and iterative for now. It’s now just good business sense for any company that wishes to engage institutional investors to have considered their climate risks. #climaterisk #ASRS #ISSB #climatereporting #corporatereporting #ASX