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ARTICLE · 25 SEPTEMBER 2024

Australia Passes Mandatory Climate Disclosure Legislation

McCarthy Tétrault
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The Australian federal government has recently adopted mandatory climate-related disclosure standards, after the country's Senate passed the Treasury Laws Amendment (Financial Market Infrastructure...

AustraliaCorporate/Commercial Law
Canadian Securities Regulatory Monitor
Canadian Securities Regulatory Monitor
Sonia Struthers
Sonia Struthers
Myreille Gilbert
Myreille Gilbert
Gurvir Sangha
Gurvir Sangha
Brianna Bernhardt
Brianna Bernhardt
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The Australian federal government has recently adopted mandatory climate-related disclosure standards, after the country's Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (the "Climate-related Reporting Bill"). The Climate-related Reporting Bill is expected to come into force on January 1, 2025.

The Australian reporting requirements will apply to all public companies and large proprietary companies required to provide audited annual financial reports to the Australian Securities and Investments Commission. Reporting requirements will be phased-in based on specified size thresholds (all amounts in Australian dollars):

  • January 2025: Large entities meeting two of the following criteria: (1) over 500 employees, (2) revenues over $500 million, and (3) assets over $1 billion.1

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