The Albanese government has introduced laws to mandate climate reporting for large companies from early 2025, intending to spur greater investment in clean energy and assist investors and companies to “manage climate risks.”
The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill (pdf) was introduced into the Australian House of Representatives on March 27.
The bill includes new compulsory climate reporting requirements for major companies. Additionally, it establishes a framework to protect our financial market infrastructure during crises.
The law starts with Australia’s largest companies but then extends to encompass medium and smaller companies over time.
“The legislation will introduce standardised, internationally-aligned reporting requirements for businesses, to ensure they are making high-quality climate-related financial disclosures,” Treasurer Jim Chalmers said....
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