Australia’s Sustainability Reporting Standards: A Practical Guide for Corporate Compliance

Australia has entered a new era of corporate sustainability disclosure. With the passage of the Treasury Laws Amendment Act (2024) and the adoption of the Australian Sustainability Reporting Standards (ASRS), companies face legally binding requirements to disclose climate-related financial information beginning as early as 2025. These standards, aligned with the 国際持続可能性基準委員会 (ISSB) framework, represent a decisive step toward integrating environmental, social, and governance (ESG) reporting into mainstream corporate accountability [1][2].

For companies, the challenge lies in not just understanding the requirements but in strategically preparing for phased compliance. This guide explores the essentials of ASRS, including its scope, timelines, and regulatory expectations, while offering practical recommendations to help businesses embed these standards into long-term sustainability strategies.

What Are the Australian Sustainability Reporting Standards?

について ASRS, issued by the Australian Accounting Standards Board (AASB), provide the technical foundation for mandatory climate disclosures. Two standards form the current framework:

• AASB S1: General Requirements for Disclosure of Sustainability-related Financial Information [3].
• AASB S2: Climate-related Disclosures [4].

These standards closely follow the ISSB’s IFRS S1 and S2, requiring disclosures on:

• Governance and oversight of sustainability-related risks.
• Material risks and opportunities affecting financial performance.
• Greenhouse gas (GHG) emissions across Scopes 1, 2, and 3.
• Climate scenario analysis and resilience testing.

While the standards are modelled on global best practices, they have been tailored for the Australian context. For example, ASRS specifies application thresholds and phased reporting timelines, providing flexibility for different company sizes [1][2].

Who Must Report Under ASRS?

Mandatory reporting applies to all public companies and large proprietary companies that already provide audited annual financial reports to the Australian Securities and Investments Commission (ASIC), provided they meet set thresholds. Reporting obligations will be phased in by company size [5]:

Phase	基準	Start Date	Entities Covered
Group 1	>500 employees, >AUD 500m revenue, or >AUD 1bn assets; asset owners with >AUD 5bn	FY 2025/26	Largest listed companies, banks, super funds
Group 2	>250 employees, >AUD 200m revenue, or >AUD 500m assets	FY 2026/27	Medium-sized public and proprietary companies
Group 3	>100 employees, >AUD 50m revenue, or >AUD 25m assets	FY 2027/28	Smaller reporting entities still of economic significance

This staggered approach mirrors the phased implementation seen under the EU’s CSRD while maintaining alignment with the ISSB’s global baseline [1][5].

Key Content Requirements

ASRS disclosures must be decision-useful for investors, meaning they need to be consistent, comparable, and reliable. Companies are expected to report across four key pillars:

1. ガバナンス – Oversight of sustainability-related risks and opportunities, board accountability, and executive responsibilities [3].
2. 戦略 – Material risks and opportunities, including the resilience of business models under different climate scenarios [4].
3. リスク管理 – Processes to identify, assess, and manage climate-related risks.
4. 指標と目標 – Disclosure of GHG emissions (Scopes 1–3), scenario analysis assumptions, and performance against targets [3][4].

Notably, スコープ3排出量, often the largest share of corporate footprints, are explicitly required. This will compel Australian firms to develop comprehensive value chain accounting systems [4]. The challenge mirrors European companies’ experiences under the CSRD, where Scope 3 reporting has been one of the most resource-intensive aspects.

ASIC’s Regulatory Guide and Enforcement Approach

To help companies navigate these requirements, ASIC released Regulatory Guide 280 (RG 280) in 2025 [5]. The guide clarifies:

• Supervision and Enforcement: ASIC will take a “pragmatic and proportionate” approach during the early years, prioritizing serious or reckless misconduct over technical non-compliance.
• Engagement and Relief: Companies may be granted conditional relief from reporting or audit requirements in certain circumstances.
• Corrections and Dialogue: If incomplete or misleading information is detected, ASIC will engage directly with companies before escalating to enforcement.
• Director Responsibilities: Updated guidance emphasizes directors’ duties in overseeing climate disclosures, including scenario analysis and Scope 3 reporting [5].

ASIC’s approach balances supportive guidance with accountability, recognizing that sustainability reporting is new for many Australian entities.

ASRS in a Global Context

ASRS is designed to integrate into the broader global sustainability reporting landscape. While aligned with ISSB standards, it also reflects regional priorities. The table below highlights key differences:

特徴	ASRS (Australia)	ISSB (Global Baseline)	CSRD/ESRS (EU)
スコープ	Public & large proprietary companies meeting thresholds	All jurisdictions adopting ISSB	Large EU & non-EU companies with EU activity
重要性	Financial materiality focus	財務的重要性	Double materiality (financial + environmental/social impact)
GHG Emissions	Scopes 1, 2, and 3 required	Scopes 1, 2, and 3 required	Scopes 1, 2, 3 required + sector-specific standards
Timeline	2025–2027 phased rollout	2024 onward (jurisdiction dependent)	2024–2028 phased rollout
Enforcement	ASIC oversight with proportionate enforcement	National regulators vary	National regulators with EU Commission oversight

This comparison highlights how ASRS is both globally consistent そして locally pragmatic, striking a balance between investor comparability and company readiness [1][2][3][4].

Strategic Recommendations for Companies

Preparing for ASRS requires more than compliance, it demands strategic integration of sustainability into governance and operations. Companies should consider:

1. Start with Data Readiness
   • Build reliable systems to capture Scope 1–3 emissions.
   • Map upstream and downstream emissions, leveraging supplier and customer data.
   • Tools like lifecycle assessments can help quantify avoided emissions.
2. Develop Scenario Analysis Capabilities
   • Use multiple climate scenarios to test business resilience.
   • Document assumptions transparently to meet ASIC expectations [5].
3. Strengthen Governance Structures
   • Ensure board oversight of sustainability risks.
   • Embed climate considerations into audit and risk committees.
4. Engage Stakeholders Early
   • Collaborate with suppliers to collect Scope 3 data.
   • Communicate with investors on evolving ESG strategies.
5. Leverage Comparability for Advantage
   • Position disclosures not only for compliance but also for differentiation.
   • Companies that demonstrate credible, transparent reporting will likely gain investor confidence and access to green finance [2].

最終的な感想

The Australian Sustainability Reporting Standards mark a turning point in corporate accountability. By requiring companies to disclose climate risks, opportunities, and emissions across their value chains, ASRS embeds sustainability into the core of financial reporting.

For Australian businesses, the challenge is twofold: meeting technical disclosure requirements while strategically aligning with global best practice. Early movers will be better placed to mitigate regulatory risks, secure investor trust, and shape Australia’s contribution to global climate action.

In the years ahead, ASRS will not only redefine compliance but also reshape corporate strategy, investment flows, and competitiveness in a low-carbon economy. Companies that approach this transition as an opportunity, not just an obligation, will set the standard for sustainable business in Australia and beyond.

参考文献

[1] https://aasb.gov.au/media/xpilzp2e/overviewofasrs_04-25.pdf
[2] https://kpmg.com/au/en/insights/financial-reporting/sustainability-climate-change/australian-sustainability-reporting-standards-legislation-finalised.html
[3] https://www.spglobal.com/sustainable1/en/solutions/australian-sustainability-reporting-standards
[4] https://standards.aasb.gov.au/sites/default/files/2024-09/AASBS1_09-24_0.pdf
[5] https://standards.aasb.gov.au/sites/default/files/2025-01/AASBS2_09-24.pdf