Climate reporting standards: ASRS AASB
Sleep tight knowing you’re compliant
Sleep tight knowing you’re compliant
Cool Planet can prepare you for mandatory climate reporting. Australia’s new climate‑reporting standards mark a major shift in transparency, with large organisations now legally required to disclose how climate risks and opportunities affect their business, finances, and strategy. We navigate the fine print for you, producing a clear roadmap that secures stakeholder confidence, unlocks capital, wins tenders, and de‑risks your strategy.
Cool Planet helps you prepare for reporting under the Australian Sustainability Reporting Standards (ASRS), including the mandatory AASB S2: Climate‑related Disclosures. We also align your broader approach with AASB S1: General Requirements for Disclosure of Sustainability‑related Financial Information, the ISSB’s IFRS Sustainability Disclosure Standards, and the TCFD framework.
What does all this mean? Clear, consistent reporting that meets the rules — and earns trust from your board, regulators, customers, and investors.
Mandatory climate‑related financial disclosure is now law in Australia. From January 2025, large listed entities have been required to report fully to AASB S2, with other groups following through in 2026 and 2027. Even if your company isn’t yet in scope, customers and investors will soon expect the same transparency from you.
The new standards bring Australian reporting into line with the International Sustainability Standards Board (ISSB) and its global baseline (IFRS S1 and S2). That means your disclosures now speak the same language as global markets — supporting access to investment, lowering assurance costs, and strengthening reputation through verified data.
AASB S1 – General Requirements for Disclosure of Sustainability‑related Financial Information
A voluntary framework based on IFRS S1, it covers all sustainability topics - from social and environmental risks to governance and opportunity management – and helps organisations integrate sustainability into mainstream financial reporting.
AASB S2 – Climate‑related Disclosures
A mandatory standard under the Corporations Act 2001, AASB S2 sets rules for identifying, managing, and disclosing climate‑related risks and opportunities. It aligns directly with the TCFD’s four pillars - Governance, Strategy, Risk Management, and Metrics & Targets - and requires detailed scenario analysis, transition planning, and emissions data.
If your company meets at least two thresholds in a group below, you must provide climate-related disclosures under AASB S2 in your annual reporting from the stated start date, covering governance, strategy, risk management, and metrics and targets, with timing aligned to your financial statements.
If you supply larger entities
Even if not directly in scope, expect requests from Group 1–3 customers for emissions data, transition plans, and related sustainability information to support their AASB S2 compliance and assurance.
We identify when and how the reporting standards apply to you — including thresholds, timing, and supply‑chain expectations — so you can plan ahead and avoid last‑minute compliance pressure.
After this we map physical, transitional, and financial risks across your value chain, linking climate impacts directly to business performance and opportunity creation.
Then we work hard to align governance, metrics, and targets with AASB S1/S2, ISSB IFRS S Standards, and your existing ESG frameworks (GRI, UN SDGs, Climate Active), creating a single source of truth for assurance and investor confidence.
Next step – we put pen to paper and produce investor‑grade sustainability reports that meet AASB S2 requirements — from board governance structures and scenario analysis to measurable targets and progress tracking.
We put processes in place, assign internal owners, and develop repeatable systems for annual reporting and continual improvement.
Ready to report with confidence?
Let’s prepare your business for AASB S2 compliance and turn regulatory readiness into a competitive advantage.
Cool Planet has been a trusted partner on our sustainability journey for over 15 years. Their expertise and guidance have been crucial in maintaining carbon neutrality and achieving significant milestones, including becoming Australia’s first net zero plastics factory. Their support in carbon management and sustainability has been invaluable to our success.
Need to know more?
If you have a business problem and need an environmental lens, or you have an environmental issue, needing a commercial lens, we'd love to hear from you.
© 2024 CoolPlanet. All rights reserved.
