Prepare for Mandatory Climate Reporting

Who it Impacts

While phased-in reporting will start with Australia's largest reporting entities, organisations of all sizes will be impacted by this change. As more companies are required to report financial climate risks, this will cascade in the supply chain to small and medium enterprises (SMEs) and across the broader economy.

Group 1

When: 2025
Who?

$500+ million consolidated revenue

$1 billion consolidated gross assets

500+ employees

Above NGER publication threshold (50,000 tonnes CO2e)

Group 2

When: 2026
Who?

$200+ million consolidated revenue

$500+ million consolidated gross assets

250+ employees

$5 billion+ under management (for asset owners)

All other NGER reporters

Group 3

When: 2027
Who?

$50+ million consolidated revenue

$25+ million consolidated gross assets

100+ employees

Taking The Plunge

Ambition to take action but is yet to identify relevant climate-related risks and opportunities
No dedicated resources or direct responsibilities for sustainability initiatives
Does not yet track carbon data

Moving Up The Ladder

Management team predominantly oversee and implement sustainability initiatives e.g. Sustainability Manager
Climate Strategy focuses on environmental compliance or regulatory objectives
Risk Management does not include climate risks
Some carbon metrics and targets cover key emission sources (e.g. energy, fuel usage)

Soaring Forward

Board and leadership endorse climate-related initiatives on ad-hoc basis
Climate Strategy may address carbon reduction but not physical climate risks
Risk Management informed by qualitative scenarios
Carbon Metrics and targets covers operational emissions only (Scope 1 and 2)

Reporting Ready

Board, leadership and staff mandates include climate responsibilities
Climate Strategy is set, and considers future financial and strategic impacts of climate change
Risk Management informed by two quantitative scenarios, including a 1.5°C scenario
Carbon Metrics and targets cover operational and value chain emissions (Scope 1, 2 and 3)

Understanding the different levels of maturity

Hover over each level to learn more

Ambition to take action but is yet to identify relevant climate-related risks and opportunities
No dedicated resources or direct responsibilities for sustainability initiatives
Does not yet track carbon data

Taking The Plunge

Management team predominantly oversee and implement sustainability initiatives e.g. Sustainability Manager
Climate Strategy focuses on environmental compliance or regulatory objectives
Risk Management does not include climate risks
Some carbon metrics and targets cover key emission sources (e.g. energy, fuel usage)

Moving Up The Ladder

Board and leadership endorse climate-related initiatives on ad-hoc basis
Climate Strategy may address carbon reduction but not physical climate risks
Risk Management informed by qualitative scenarios
Carbon Metrics and targets covers operational emissions only (Scope 1 and 2)

Soaring Forward

Board, leadership and staff mandates include climate responsibilities
Climate Strategy is set, and considers future financial and strategic impacts of climate change
Risk Management informed by two quantitative scenarios, including a 1.5°C scenario
Carbon Metrics and targets cover operational and value chain emissions (Scope 1, 2 and 3)

Reporting Ready

Understanding the different levels of maturity

Assess your Readiness

We have put together a few short questions to help you assess your company’s readiness for Climate Reporting.

Take Assessment

Schedule in a 30 minute consultation

Taking the Next Steps

Where to Begin?

You will need to assess where your organisation currently stands both in terms of maturity and ambition. We can help you to build a comprehensive roadmap to ensure your organisation is equipped to manage compliance requirements and proactively mitigate climate risks.

Evaluating the maturity of your organisation's ESG practices.

Explore our insights on different levels of ESG performance and reporting maturity, gaining valuable guidance on aligning your current status with ambitious objectives.

Are you ready to navigate the new requirements for mandatory climate-related disclosures in Australia?

Mandatory climate disclosures are based on the International Sustainability Standards Board (ISSB)’s climate standard, IFRS S2 and represent the biggest change to corporate reporting in decades.

Assess your readiness

What it means for your Business?

Australia's mandatory climate reporting commences from January 2025. Australia's largest corporations and asset managers will be required to disclose climate-related financial information in their annual reports, including:

• Analysing climate scenarios
• Assessing and reporting greenhouse gas emissions
• Assessing business resilience to climate change
• Outlining responses to climate risks and opportunities

Request a consultation

How Perspektiv Can Support

Perspektiv can support you to develop an action-orientated plan including metrics and targets, to address climate risk in your operations and value chain.