AASB S1 General Sustainability disclosures (likely)
AASB likely to mandate S1 (general sustainability) following S2 climate phasing.
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Who must comply
Likely Group 1 entities first; phased to Group 2 + Group 3.
What triggers it
AASB final standard issued (expected 2025-2026).
When due
TBC (likely from FY26 or FY27).
Evidence required
Sustainability disclosures in annual report.
Max penalty
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Summary
AASB indicated S1 (general sustainability) likely to follow S2. Will require disclosure of all sustainability-related risks + opportunities. Industry consultation pending.
Enforced by
Source legislation
Topics
climateesgdisclosure
Related obligations
- CWLTHAASB S2 Scope 3 emissions + assurance phase-inGroup 1 entities must report Scope 3 from year 2 + escalating assurance through to FY30.
- CWLTHLodge mandatory climate-related financial disclosures (ASRS S2)Group 1/2/3 entities must publish ASRS-aligned climate disclosures with their annual financial reports.
- CWLTHClimate scenario analysis (AASB S2)S2 mandates climate scenario analysis at least 1.5°C-aligned + an additional scenario.
- CWLTHASRS Group 2 climate disclosure — FY commencing on/after 1 July 2026Group 2 (mid-tier entities) start climate disclosure FY27.
- 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.
Frequently asked questions
- Who must comply with AASB S1 General Sustainability disclosures (likely)?
- Likely Group 1 entities first; phased to Group 2 + Group 3.
- What triggers AASB S1 General Sustainability disclosures (likely)?
- AASB final standard issued (expected 2025-2026).
- When is AASB S1 General Sustainability disclosures (likely) due?
- TBC (likely from FY26 or FY27).
- What evidence is required for AASB S1 General Sustainability disclosures (likely)?
- Sustainability disclosures in annual report.
Source: https://aasb.gov.au. Rules Mate is not a law firm. Always verify against the live regulator source before acting.