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Australian Sustainability Reporting Standard AASB S2025-1 Amendments to Greenhouse Gas Emissions Disclosures
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Impact analysis
- The AASB issued AASB S2 to support the Corporations Act 2001 requirements for large businesses and financial institutions to prepare climate-related financial disclosures. The AASB was advised by the Office of Impact Analysis (OIA) that the AASB did not need to undertake an Impact Analysis for the mandatory climate-related disclosure Standard on the basis that the regulatory impact had already been calculated by the Treasury in relation to the proposed amendments of the Corporations Act and assessed by the OIA (refer OIA, Published Impact Analysis “Climate risk disclosure”, January 2024).
- AASB S2025-1 amends AASB S2 to clarify existing reliefs from some greenhouse gas emissions disclosures and extend some of the existing reliefs and also amends the requirements for classifying some types of greenhouse gas emissions in applying specific requirements related to the disclosure of information about financed emissions. The AASB has been advised by the OIA that the AASB does not need to undertake an Impact Analysis for AASB S2025-1.