On-Demand Webinar: Your Guide to the Australian Sustainability Reporting Standards (ASRS). From 1 January 2025, Australian businesses have entered a new era of mandatory climate disclosures. Over the next five years, more than 6,000 companies will be required to report under the new Australian Sustainability Reporting Standards (ASRS), specifically ASRS AASB S2. This transition ensures alignment with global IFRS sustainability frameworks.
For many organisations, this marks a step-change in how ESG disclosures and sustainability information are measured, assured, and reported. To help businesses navigate this transition, Achilles hosted a webinar on 2 September, led by Adam Whitfield, Head of Compliance and ESG at Achilles. The session, now available on-demand, offers practical guidance on preparing for your ASRS reporting obligations.
What the New ASRS Requirements Mean for Your Business
The ASRS framework requires businesses to prepare an annual Sustainability Report as part of their financial statements. These mandatory climate disclosures extend far beyond carbon reporting; they touch on governance, risk management, and overall climate strategy.
Failure to comply carries significant consequences. Penalties for non-compliance with ASRS reporting can reach up to $15 million or 10% of turnover. The scale of these penalties underlines the critical importance of early readiness.
Why Early Preparation for ASRS Reporting Matters
Adam Whitfield highlighted that compliance is not just about submitting a report; it requires system-wide readiness. Key steps for businesses to prepare their ESG disclosures include:
- Mapping value chain data to ensure Scope 3 emissions and supplier-level risks are fully captured for your ASRS reporting.
- Building cross-functional teams across finance, procurement, sustainability, and risk to strengthen governance.
- Engaging stakeholders to create reliable reporting processes and prepare for third-party assurance.
These actions position companies to deliver robust ESG disclosures that withstand regulatory and investor scrutiny.
Watch the On-Demand Webinar
If your organisation is preparing for ASRS-aligned climate reporting in Australia, this webinar offers valuable insights to strengthen your approach to these new mandatory climate disclosures.
