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ARTICLE · 25 SEPTEMBER 2024

Mandatory Climate Disclosure Laws To Take Effect In Australia

Jones Day
Jones Day
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On 17 September 2024, the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 ("Act") received Royal Assent. With this, the mandatory climate-related...

AustraliaEnvironment
Giles Elliott
Giles Elliott
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Howard Sidman
Holly Sara
Holly Sara
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Prudence Smith
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Peter Wang
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Liam Brodrick
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Australia has now officially passed laws that will introduce a mandatory climate-related financial disclosure regime from 1 January 2025. This is one of the most significant reforms to corporate financial reporting in Australian history.

On 17 September 2024, the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 ("Act") received Royal Assent. With this, the mandatory climate-related financial disclosure regime that has been under consideration by the Australian Parliament since March 2024 is now confirmed.

The regime will commence on 1 January 2025, with many entities required to comply with the regime's reporting requirements from that date and with phased implementation for other entities in 2026 and 2027.

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