Climate & ESG in Western Australia

AASB S2 Scope 3 emissions + assurance phase-in

Group 1 entities must report Scope 3 from year 2 + escalating assurance through to FY30.

ASRS Group 2 climate disclosure — FY commencing on/after 1 July 2026

Group 2 (mid-tier entities) start climate disclosure FY27.

NGER reporting (Clean Energy Regulator)

Threshold-triggered annual emissions, energy production + consumption reporting.

Safeguard Mechanism baseline decline 4.9% pa

Australia's 215 largest emitters face declining baselines under Safeguard Mechanism reform.

Determine NGER reporting thresholds annually

Test corporate group and facility thresholds at end of each FY — if met, register and report under NGER.

AASB S1 General Sustainability disclosures (likely)

AASB likely to mandate S1 (general sustainability) following S2 climate phasing.

ASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027

Group 3 (smaller entities) start climate disclosure FY28.

Scope 3 emissions disclosure (AASB S2 + voluntary)

Scope 3 emissions become mandatory year 2 of ASRS reporting (varies by Group).

Commonwealth Procurement-Connected Policy — modern slavery

Federal procurement requires modern slavery risk consideration in supply chain.

Modern Slavery Statement (Cwlth)

Entities with consolidated revenue ≥$100M must publish a Modern Slavery Statement annually.

Climate scenario analysis (AASB S2)

S2 mandates climate scenario analysis at least 1.5°C-aligned + an additional scenario.

Report greenhouse and energy data under NGER

Corporations meeting NGER thresholds must report Scope 1, Scope 2 emissions and energy data by 31 October.

Comply with Safeguard Mechanism baseline (covered facilities)

Facilities >100,000 tCO2-e/year must keep emissions below an annually declining baseline.

Publish an annual Modern Slavery Statement

Entities with consolidated revenue ≥$100M must publish an annual Modern Slavery Statement.

Lodge mandatory climate-related financial disclosures (ASRS S2)

Group 1/2/3 entities must publish ASRS-aligned climate disclosures with their annual financial reports.

Australian Carbon Credit Units (ACCUs)

ACCUs issued under ERF; tradeable; surrender under Safeguard Mechanism.

Electric Cars FBT Exemption (Cwlth)

Eligible zero/low-emission cars FBT-exempt under car limits (until 2025 for PHEVs).