ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027
Group 3 (smaller entities) start climate disclosure FY28.
Who must comply
Group 3 entities meeting any two of three thresholds.
What triggers it
First FY commencing on/after 1 July 2027.
When due
First report alongside FY28 annual financial report.
Evidence required
AASB S2 disclosures; auditor's limited assurance.
Max penalty
Same penalty regime as ASRS Group 1
Effective from
1 July 2027
Summary
Group 3 thresholds (revenue ≥$50M, assets ≥$25M, ≥100 employees — any two of three under Ch 2M-equivalent test) start AASB S2 sustainability reporting for FYs commencing on/after 1 July 2027. Reduced Scope 3 obligations in year 1.
Enforced by
Source legislation
Topics
Related obligations
- CWLTHASRS Group 2 climate disclosure — FY commencing on/after 1 July 2026Group 2 (mid-tier entities) start climate disclosure FY27.
- CWLTHAASB S2 Scope 3 emissions + assurance phase-inGroup 1 entities must report Scope 3 from year 2 + escalating assurance through to FY30.
- CWLTHNGER reporting (Clean Energy Regulator)Threshold-triggered annual emissions, energy production + consumption reporting.
- CWLTHSafeguard Mechanism baseline decline 4.9% paAustralia's 215 largest emitters face declining baselines under Safeguard Mechanism reform.
- CWLTHLodge mandatory climate-related financial disclosures (ASRS S2)Group 1/2/3 entities must publish ASRS-aligned climate disclosures with their annual financial reports.
- CWLTHAASB S1 General Sustainability disclosures (likely)AASB likely to mandate S1 (general sustainability) following S2 climate phasing.
Frequently asked questions
- Who must comply with ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027?
- Group 3 entities meeting any two of three thresholds.
- What triggers ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027?
- First FY commencing on/after 1 July 2027.
- When is ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027 due?
- First report alongside FY28 annual financial report.
- What is the maximum penalty for ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027?
- Same penalty regime as ASRS Group 1
- What evidence is required for ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027?
- AASB S2 disclosures; auditor's limited assurance.
Source: https://aasb.gov.au/admin/file/content105/c9/AASB_S2_09-24.pdf. Rules Mate is not a law firm. Always verify against the live regulator source before acting.