As Group 2 entities commence their first reporting period under Australia's mandatory climate reporting regime, ASIC's early observations highlight key disclosure expectations and areas for caution.
Australia's mandatory climate reporting commenced on 1 January 2025, and is phased in across three groups based on entity size and other key criteria. Group 1 entities with financial years ending 31 December 2025 were the first to lodge sustainability reports.
Group 2 entities have commenced their first mandatory climate reporting period from 1 July 2026, with a deadline of 31 October 2026 for their first sustainability reports.
ASIC has issued early observations based on its review of a subset of the first sustainability reports lodged by Group 1 entities. While intended to assist Group 1 entities with financial years ending 30 June 2026, the observations provide useful guidance for Group 2 entities as they prepare their first sustainability reports ahead of the 31 October 2026
