A director’s guide to mandatory climate reporting | Version 2

Practical guidance for directors overseeing their organisations’ disclosures under Australia’s mandatory climate reporting laws.

On 9 September 2024, the Federal Parliament passed landmark legislation to establish an internationally aligned climate reporting regime in Australia.  

This Version 2 update replaces our earlier guidance on mandatory climate reporting issued in 2023. It incorporates the latest international and Australian developments, while maintaining a focus on the core elements of the reporting regime, including: 

• an overview of the reporting framework; 

• key director responsibilities; and 

• practical steps boards can take to help their organisations navigate this important change. 

ASIC Chair Joe Longo, in his Foreword to the guide, describes these new requirements as ‘the biggest change to corporate reporting in a generation,’ underscoring the critical role directors will play in managing this transformation. 

As host of the Climate Governance Initiative (CGI) Australia, the AICD is pleased to have collaborated with our partners Deloitte and MinterEllison to produce both the original guide and this comprehensive update. 

This resource has been informed by consultation with policymakers, regulators, industry experts, and the director community.