RIAA commented on Australian Treasury proposals to empower the Australian Accounting Standards Board to make non-mandatory sustainability disclosure standards. 

RIAA supported this important foundation for sustainability reporting in Australia. In RIAA’s view, this good first step could be strengthened through:

• a standalone governance body for sustainability disclosure standards
• strong standard-setting and public consultation requirements
• diverse sustainability expertise on the AASB, Auditing and Assurance Standards Board and Financial Reporting Council, beyond climate expertise
• maximum adherence to the standard-making framework and minimal differences between standards for different types of entities.