Australian Treasury Consults on Climate Disclosures

Australia is consulting on the design and implementation of its proposed standards for the mandatory disclosure of climate‑related financial risks and opportunities. The consultation, issued by the Australian Treasury, also seeks feedback on possible changes to ensure Australia’s financial reporting bodies “are appropriately positioned” for the expansion of international standard‑setting priorities on climate and sustainability reporting. The consultation is due to run until 17 February. The consultation document said the reforms would seek to support climate goals and improve information flows by creating disclosure requirements that are well-understood, internationally aligned, scalable and flexible, and proportionate to risk. Erwin Jackson, Director of Policy at the Investor Group on Climate Change, said: “The investable climate disclosures will help investors allocate capital to the projects and companies that are well placed to thrive in the transition to a decarbonised economy. High quality, standardised, and reliable climate disclosures will help Australian companies attract investment from global capital markets.”

 

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