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Clearer rules on reporting companies' climate risks

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Australian company directors have long had legal obligations to identify, disclose and manage material financial risks to the company. Where risks result from climate change, or from measures to mitigate climate change, they have an obligation to address and report these.

But until now there have been no clear rules on how to report.

A new proposal from Treasurer Jim Chalmers on which the government wants comment by February 17 will require a standardised internationally‑aligned form of disclosure of climate‑related risks and opportunities, phased in from 2024-25.

It follows on the heels of the government’s legislated climate targets.

https://www.inkl.com/news/clearer-rules-on-reporting-companies-climate-risks-could-soon-put-us-on-a-path-to-decarbonising-corporate-australia/PJyLdAIkqx



What do you think?


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Comments
percy @ 2022.12.29 2:44 AM
Good move!

IdeaSpies @ 2022.12.30 2:48 AM

Yes Percy- it would be good to standardise climate disclosures so organisations can be compared....



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