Contents of Sustainability ReportContents of Sustainability Report

Contents of Sustainability Report

1. The Act requires certain entities that prepare annual financial reports under Chapter 2M of the Act to also prepare an annual sustainability report to accompany the financial report.
2. The sustainability report for a financial year consists of:
   1. the climate statement for the year required by the Sustainability Standards;
   2. any notes to the climate statements required by the Sustainability Standards or a legislative instrument made by the Minister under subsection 296A(4);
   3. any statements and notes relating to other financial matters concerning environmental sustainability required by a legislative instrument made by the Minister under subsection 296A(5); and
   4. the directors’ declaration about the statements and the notes.[1]
3. Paragraph C3 in Appendix C of the Australian Sustainability Reporting Standard AASB S2 Climate-related Disclosures (AASB S2) provides that an entity is not required to provide comparative information in the first annual reporting period that it applies that standard.