Treasury consulted on a proposal to mandate climate-related disclosures in Australia. In RIAA’s view, the key priorities for the new disclosures regime should be:

• alignment with the International Sustainability Standards Board (ISSB), and adapting to Australia with a building-block approach,
• a fit-for purpose regulatory framework that can be expanded to incorporate broader sustainability disclosures,
• Government support for companies under the mandatory regime, including:
• prompt introduction, with targeted, time-bound transitional arrangements to address key challenges for preparers and audit/assurance providers,
• support from government including free, fit-for-purpose data access, and climate scenarios, and
• practical regulatory guidance on aspects of disclosures that present challenges.