ESG + climate disclosure
Mandatory climate-related financial disclosures (AASB S2), NGER, Safeguard Mechanism, modern slavery + sustainability reporting frameworks. Australian Sustainability Reporting Standards phase-in 2025-2030.
21
Obligations
6
Regulators
11
Recent enforcement
Regulators
Obligations (21)
- criticalCWLTHcurrentSafeguard Mechanism baseline decline 4.9% pa
Australia's 215 largest emitters face declining baselines under Safeguard Mechanism reform.
- criticalCWLTHcurrentAASB S2 Scope 3 emissions + assurance phase-in
Group 1 entities must report Scope 3 from year 2 + escalating assurance through to FY30.
- criticalCWLTHcurrentASRS Group 2 climate disclosure — FY commencing on/after 1 July 2026
Group 2 (mid-tier entities) start climate disclosure FY27.
- criticalCWLTHcurrentHold AER authorisation as energy retailer
Selling electricity or gas to small customers requires AER retailer authorisation.
- criticalCWLTHcurrentNGER reporting (Clean Energy Regulator)
Threshold-triggered annual emissions, energy production + consumption reporting.
- highCWLTHcurrentAustralian Carbon Credit Units (ACCUs)
ACCUs issued under ERF; tradeable; surrender under Safeguard Mechanism.
- highCWLTHcurrentCDR Energy sector — phased
Energy retailers + distributors must share data via CDR.
- highCWLTHcurrentDetermine NGER reporting thresholds annually
Test corporate group and facility thresholds at end of each FY — if met, register and report under NGER.
- highCWLTHcurrentClimate scenario analysis (AASB S2)
S2 mandates climate scenario analysis at least 1.5°C-aligned + an additional scenario.
- highCWLTHupcomingASRS Group 3 climate disclosure — FY commencing on/after 1 July 2027
Group 3 (smaller entities) start climate disclosure FY28.
- highCWLTHupcomingScope 3 emissions disclosure (AASB S2 + voluntary)
Scope 3 emissions become mandatory year 2 of ASRS reporting (varies by Group).
- highCWLTHcurrentLodge mandatory climate-related financial disclosures (ASRS S2)
Group 1/2/3 entities must publish ASRS-aligned climate disclosures with their annual financial reports.
- highCWLTHcurrentReport greenhouse and energy data under NGER
Corporations meeting NGER thresholds must report Scope 1, Scope 2 emissions and energy data by 31 October.
- highCWLTHcurrentComply with Safeguard Mechanism baseline (covered facilities)
Facilities >100,000 tCO2-e/year must keep emissions below an annually declining baseline.
- highCWLTHcurrentRegister with AEMO for National Electricity Market participation
Generators + retailers + market participants must register with AEMO and meet NER obligations.
- highCWLTHcurrentModern Slavery Statement (Cwlth)
Entities with consolidated revenue ≥$100M must publish a Modern Slavery Statement annually.
- highCWLTHcurrentPublish an annual Modern Slavery Statement
Entities with consolidated revenue ≥$100M must publish an annual Modern Slavery Statement.
- mediumCWLTHupcomingAASB S1 (general sustainability) disclosures — voluntary today, mandatory pending
Companion to AASB S2 (climate). Currently voluntary in AU; ISSB pathway suggests phased mandatory.
- mediumCWLTHcurrentGEMS (Greenhouse + Energy Minimum Standards)
Regulated products must meet energy efficiency MEPS + display label.
- mediumNSWcurrentNSW Modern Slavery Act reporting (NSW public entities and their suppliers)
Covered NSW public entities must take reasonable steps on modern slavery risk and report annually; their suppliers are drawn in through tender and contract clauses.
- mediumCWLTHcurrentElectric Cars FBT Exemption (Cwlth)
Eligible zero/low-emission cars FBT-exempt under car limits (until 2025 for PHEVs).
Recent enforcement
- asicreview2025ASIC AASB S2 first-cycle climate disclosures 2025
First AASB S2 climate disclosures by Group 1 entities for years ending 30 June 2025; ASIC + AASB review for compliance.
- asiccivil penalty2025ASIC v 2025 — greenwashing civil penalty proceedings
ASIC progressed multiple greenwashing civil penalty proceedings into 2025 — including against listed entities + super funds.
- asicreview2025ASIC investigations — ASX greenwashing across 2024-2025
ASIC published 2 reports + 35+ infringement notices on ASX greenwashing 2023-2024.
- ic-aerregistration action2024AER retail authorisation actions 2024
AER actions against energy retailers — billing failures, hardship program compliance, BCS reform.
- modern-slavery-commpublic list2024Anti-Slavery Commissioner public list of non-compliant reporting entities
The federal Anti-Slavery Commissioner published lists of reporting entities late or non-compliant with their Modern Slavery Statement obligations.
- modern-slavery-commpublic list2024Anti-Slavery Commissioner non-compliance lists 2024
Federal Anti-Slavery Commissioner published lists of reporting entities late or non-compliant.
- ic-aercivil penalty2024AER v EnergyAustralia (retail compliance)
EnergyAustralia admitted breaches of National Energy Retail Rules around hardship handling + disconnection.
- asiccivil penalty$11.3M2024ASIC v Mercer Superannuation (greenwashing)
Mercer represented certain superannuation investment options as excluding investments in companies involved in fossil fuels, alcohol production and gambling, when in fact those exclusions were not implemented.
- accccourt judgment2024ACCC v EnergyAustralia (greenwashing)
Federal Court hearing of greenwashing claims around 'Go Neutral' carbon offset product — whether offsets actually delivered the climate benefit advertised.
- asicinfringement2024ASIC v Rio Tinto Limited (continuous disclosure)
ASIC concerns over the timeliness of Rio Tinto's continuous disclosure following the Juukan Gorge events and subsequent leadership review.
- fwocompliance partnership2014FWO investigation into Coles trolley collectors
FWO found systemic underpayment of trolley collectors engaged through subcontractors at Coles supermarkets across Australia.