Climate risk reporting: Pressure builds for disclosure by Australian corporates

  • Australia lags behind other developed countries when it comes to environmental reporting.
  • While the Corporations Act 2001 outlines requirements for corporate reporting, the requirements don't include the disclosure of climate risks.
  • Corporations can anticipate increasing scrutiny and move towards disclosing climate risks in their reports

Businessman looking out towards green land and dry land

Australian corporations are facing increasing pressure to disclose their exposure to climate-related risk in their public reports and to catch up with the EU, who are embracing mandatory environmental and climate risk reporting.

Pressure is building for Australian corporate entities to improve their identification and reporting of the risks climate change poses to their financial position and business operations, but Australia still lags behind other developed countries when it comes to environmental reporting (according to the Organisation for Economic Co-operation and Development).

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