AASB S1 (general sustainability) disclosures — voluntary today, mandatory pending
Companion to AASB S2 (climate). Currently voluntary in AU; ISSB pathway suggests phased mandatory.
Who must comply
Voluntary today; Group 1 entities should prepare for phased mandatory.
What triggers it
Voluntary commitment; future mandatory commencement.
When due
Voluntary today; mandatory expected 2027-2028.
Evidence required
AASB S1-aligned disclosures alongside AASB S2 climate.
Max penalty
n/a today; same regime as ASRS climate when mandatory
Summary
AASB S1 mirrors ISSB IFRS S1 for general sustainability-related financial information beyond climate. Currently voluntary in Australia; Treasury consultation suggests phased introduction following ASRS climate-only commencement. Boards should align voluntary preparation with eventual mandatory.
Enforced by
Source legislation
Topics
Related
- CWLTHASRS Group 2 climate disclosure — FY commencing on/after 1 July 2026Group 2 (mid-tier entities) start climate disclosure FY27.
- CWLTHASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027Group 3 (smaller entities) start climate disclosure FY28.
- 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.
- 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.
Reading
Frequently asked questions
- Who must comply with AASB S1 (general sustainability) disclosures — voluntary today, mandatory pending?
- Voluntary today; Group 1 entities should prepare for phased mandatory.
- What triggers AASB S1 (general sustainability) disclosures — voluntary today, mandatory pending?
- Voluntary commitment; future mandatory commencement.
- When is AASB S1 (general sustainability) disclosures — voluntary today, mandatory pending due?
- Voluntary today; mandatory expected 2027-2028.
- What is the maximum penalty for AASB S1 (general sustainability) disclosures — voluntary today, mandatory pending?
- n/a today; same regime as ASRS climate when mandatory
- What evidence is required for AASB S1 (general sustainability) disclosures — voluntary today, mandatory pending?
- AASB S1-aligned disclosures alongside AASB S2 climate.
Source: https://aasb.gov.au. Rules Mate is not a law firm. Always verify against the live regulator source before acting.