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ARTICLE · 30 JANUARY 2024

Mandatory climate-related financial disclosure: government releases draft framework

Corrs Chambers Westgarth
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The implementation of the mandatory CRFD regime will be progressively phased in.

AustraliaEnvironment
Abigail Gill
Abigail Gill
Steven Rice
Steven Rice
Anna White
Anna White
Georgia Smith
Georgia Smith
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The Australian Government's draft legislation would introduce mandatory climate-related financial disclosures from 2024/25. We analyse key aspects of the draft legislation and explore the implications and next steps for reporting entities.

After two rounds of consultation, the exposure draft of the Treasury Laws Amendment Bill 2024: Climate-related financial disclosure (Draft Legislation) has been released and is open for consultation until 9 February 2024. The Australian Accounting Standards Board (AASB) is also currently consulting on an exposure draft of the proposed climate disclosure standards known as ED SR1 (Draft Standards), which the Draft Legislation will give effect to, once passed.

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