RIAA welcomes the significant milestone achieved by the Australian Government through the release of the exposure draft legislation for climate-related financial disclosure, having long-been a fervent advocate of such a regime in Australia. Mandatory climate disclosure will send a strong signal that Australia acknowledges the significance of accurate and useable sustainability information in markets. This will in turn attract capital to Australia and is critical for the continued competitiveness of key Australian industries.
Noting that this consultation occurred during the consultation for the Exposure Draft of the Australian Sustainability Reporting Standards (ASRS Exposure Draft) by the Australian Accounting Standards Board (AASB), RIAA is concerned that when, read together with the ASRS Exposure Draft, the legislation as drafted may not be sufficient to give effect to the intent of the policy. In particular, RIAA is concerned that the exposure draft legislation falls short of achieving international alignment and interoperability to support Australian investors.
In this submission, RIAA has made a number of recommendations to support the success of Australia’s mandatory climate-related financial disclosure regime. RIAA is not recommending that the suggested amendments hold up the commencement of the legislation. It is vitally important the Exposure Draft Legislation is enacted without delay.
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RIAA welcomes the significant milestone achieved by the Australian Government through the release of the exposure draft legislation for climate-related financial disclosure, having long-been a fervent advocate of such a regime in Australia. Mandatory climate disclosure will send a strong signal that Australia acknowledges the significance of accurate and useable sustainability information in markets. This will in turn attract capital to Australia and is critical for the continued competitiveness of key Australian industries.
Noting that this consultation occurred during the consultation for the Exposure Draft of the Australian Sustainability Reporting Standards (ASRS Exposure Draft) by the Australian Accounting Standards Board (AASB), RIAA is concerned that when, read together with the ASRS Exposure Draft, the legislation as drafted may not be sufficient to give effect to the intent of the policy. In particular, RIAA is concerned that the exposure draft legislation falls short of achieving international alignment and interoperability to support Australian investors.
In this submission, RIAA has made a number of recommendations to support the success of Australia’s mandatory climate-related financial disclosure regime. RIAA is not recommending that the suggested amendments hold up the commencement of the legislation. It is vitally important the Exposure Draft Legislation is enacted without delay.
