Embrace technology to meet ASRS AASB S2 reporting requirements

Australian Sustainability Reporting Standards (ASRS) AASB S1 and AASB S2 are now available on the AASB’s Digital Standards Portal (https://standards.aasb.gov.au/). Over the next few months, many Australian companies will have to come up with plans on how to meet the ASRS reporting requirements, especially for Group 1 organisations. The requirements are not just a compliance formality—they represent a transformative shift toward more structure, transparency, and accountability, in line with the global ISSB IFRS S1 and IFRS S2.

Group 1 organisations, which are the largest and most complex entities, have the added responsibility to lead by example. The ASRS AASB S2 (mandatory) outlines rigorous standards for climate-related disclosures, covering Governance, Strategy, Risk Management and Metrics and Targets. Without leveraging modern technology, meeting these requirements efficiently and accurately can become a daunting task.

How IBM Envizi can help

• Carbon Accounting: Envizi can enable data flow automation to capture activity data automatically, reducing human error and time spent on manual processes. AASB decided to prioritize the alignment of the GHG emission calculation with the GHG Protocol. IBM Envizi has been reviewed by the WRI for conformance with the GHG Protocol and awarded the “Built on GHG Protocol” mark.
• Assess Climate Risks: Envizi can help organistions quantify climate-related physical risks to fixed assets and leverage these insights to make informed investment decisions, enhance risk management strategies, and meet disclosure requirements.
• Build Climate Transition Plan: Envizi supports organisations to model, track and analyze emissions reduction trajectories utilizing advanced planning tools and built-in planning templates.
• Streamlining Reporting: Utilize Envizi’s ESG reporting solution to prepare metrics and qualitative responses for ASRS disclosure.?
• Auditable Trails: Envizi ensures that every data point is traceable and auditable, which is critical for meeting the rigorous transparency requirements of the ASRS.

Although a technical platform such as IBM Envizi can help a great deal in fulfilling organisations reporting requirements, the power of the platform can only be unleashed from a thorough understanding of organisational specific reporting requirements, data maturity into a well-planned and executed configuration. That’s why now is the time for Group 1 organisations to embrace technology and future-proof their sustainability reporting. Delaying action not only jeopardizes compliance but also misses the opportunity to demonstrate leadership in sustainable practices. Adopting the right tools will make your sustainability reporting more efficient, transparent, and impactful. https://www.ibm.com/downloads/cas/QOE1BWG4

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