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ARTICLE · 03 SEPTEMBER 2024

Coming Soon: Mandatory Climate Disclosure Laws In Australia

Jones Day
Jones Day
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On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill").

AustraliaEnvironment
Giles Elliott
Giles Elliott
Howard Sidman
Howard Sidman
Christopher Lovrien
Christopher Lovrien
Holly Sara
Holly Sara
Prudence Smith
Prudence Smith
Peter Wang
Peter Wang
Liam Brodrick
Liam Brodrick
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In Short

The Development: On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill").

The Context: The Bill, once it passes the final stage of lawmaking, will introduce a national mandatory climate-related financial reporting regime in Australia. Entities that meet stipulated thresholds will be required to make annual disclosures regarding various climate metrics and related matters.

Looking Ahead: The final steps prior to the Bill becoming law are for the House of Representatives to pass the Bill as amended by the Senate and for the Bill to receive Royal Assent. This is expected to occur within the coming weeks. Once this occurs, the regime will commence and be effective from as early as January 1, 2025, for entities operating in Australia.

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