GUIDANCE DOCUMENT
Australian Climate Related Financial Disclosures
The Australian Climate Related Financial Disclosures (CRFD) have been developed by Treasury and the Australian Accounting Standards Board (AASB) to assess and manage the systemic risks climate change presents to the financial system.
On 23 October 2023, the AASB released their draft sustainability reporting standards. The main disclosure requirements closely follow those included in the ISSB’s IFRS S2 Climate-related Disclosures standard, with some limited modifications to ensure standards are fit for purpose in Australia. The consultation process closed in February 2024. Subject to the passage of legislation through parliament, the standards’ first reporting period is expected to begin for financial years commencing between 1 January 2025 and 30 June 2026 for so called ‘Group 1’, with requirements for smaller entities being introduced in subsequent years in a phased approach.
Download our Australian CRFD Guidance Document for an overview of the climate-related financial disclosures as outlined in ED SR1 – Australian Sustainability Reporting Exposure Draft and Morningstar Sustainalytics’ solutions to support these disclosures.
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