Australian Sustainability Reporting Standard AASB S2025-1 Amendments to Greenhouse Gas Emissions Disclosures
Reasons for issuing this StandardReasons for issuing this Standard
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Reasons for issuing this Standard
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Consistent with the commitment from the Australian Government to introduce internationally aligned mandatory climate-related financial reporting for large businesses and financial institutions, the AASB issued AASB S2025-1 to amend AASB S2 Climate-related Disclosures to:
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clarify existing relief from disclosing and measuring Scope 3 Category 15 greenhouse gas emissions related to derivatives and to commercial banking and insurance-associated activities;
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amend requirements related to classifying financed emissions of entities that participate in commercial banking activities and financial activities associated with the insurance industry;
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clarify the jurisdictional relief from using the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (2004) when measuring greenhouse gas emissions; and
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provide jurisdictional relief for using global warming potential (GWP) values other than the GWP values based on a 100-year time horizon from the latest Intergovernmental Panel on Climate Change assessment available at the reporting date.