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ARTICLE · 25 FEBRUARY 2025

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January 2025 ESG Policy Update— Australia

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The first phase of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) (Bill) commenced on and from 1 January 2025. The Bill amends the Corporations Act 2001 (Cth) to mandate that sustainability reporting be included in annual reports.

AustraliaEnergy and Natural Resources

AUSTRALIAN UPDATE

Mandatory Climate-Related Financial Disclosures Come Into Effect

The first phase of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) (Bill) commenced on and from 1 January 2025. The Bill amends the Corporations Act 2001 (Cth) to mandate that sustainability reporting be included in annual reports.

The first phase requires Group 1 entities to disclose climate-related risks and emissions across their entire value chain. Group 2 entities will need to comply from 2026, followed by Group 3 entities from 2027.

First Annual Reporting Period Commences on Reporting Entities Which Meet Two out of Three of the Following Reporting Criteria

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