Australia’s new 2035 carbon reduction target will accelerate the shift to a low-carbon economy, creating both risks and opportunities for businesses. Organisations should act now to measure, manage and report their greenhouse gas emissions, ensuring they stay competitive and prepared for increasing sustainability expectations.

The Federal Government’s first National Climate Risk Assessment has highlighted significant risks for businesses, from extreme heat and drought to coastal flooding, with the potential to disrupt operations, supply chains and customer demand. Sustainability reporting provides a structured way for organisations to assess these risks, identify opportunities and develop strategies to ensure they not only withstand but thrive in a changing climate.

On 9 September 2024 mandatory sustainability reporting became a reality in Australia.  
This legislation provides the legislative framework for mandatory sustainability reporting in Australia, which initially will only mandate reporting of climate related financial disclosures. 

5 Steps to get your SME's finance function ready for Sustainability Reporting