On-Demand Webinar : From 1 January 2025, Australian businesses entered a new era of mandatory climate-related financial disclosures. Over the next five years, more than 6,000 companies will be required to report under the Australian Sustainability Reporting Standard (ASRS AASB S2), ensuring alignment with global IFRS sustainability frameworks.
For many organisations, this marks a step-change in the way sustainability information is measured, assured, and disclosed. To help businesses navigate this transition, Achilles hosted a webinar on 2 September, led by Adam Whitfield, Head of Compliance and ESG at Achilles, offering practical guidance on preparing for reporting obligations. The session is now available on-demand.
What the New Requirements Mean for Australian Companies
The ASRS framework requires businesses to prepare an annual Sustainability Report as part of their financial statements. These disclosures extend beyond carbon reporting and touch on governance, risk management, and strategy.
Failure to comply carries significant consequences, with penalties of up to $15 million or 10% of turnover for non-compliance. The scale of these penalties underlines the importance of early readiness.
Why Early Preparation Matters
Adam Whitfield highlighted that compliance is not just about submitting a report – it requires system-wide readiness across the organisation. Key steps for businesses include:
- Mapping value chain data to ensure Scope 3 emissions and supplier-level risks are fully captured.
- 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 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.
