FAQs
Introduction
Australian businesses are stepping into a new era of sustainability reporting with the Australian Sustainability Reporting Standards (ASRS), released in September 2024. Starting 1 January 2025, reporting on climate-related financial disclosures under AASB 2 becomes mandatory, while AASB 1, covering general sustainabilityrelated financial information, remains voluntary.
Over the next three years, more than 6,000 companies will be directly required to comply, while many more will experience indirect pressures through supply chains, investor expectations and client demands.1 For Chief Financial Officers, Managing Directors, and Sustainability Managers, preparing for ASRS compliance isn’t just a regulatory requirement — it’s a strategic opportunity to integrate sustainability into financial planning, enhance governance, and strengthen stakeholder trust.
This whitepaper provides a practical guide for businesses navigating these changes, exploring the regulatory landscape, potential impacts, common challenges and actionable steps to prepare.
