Policy & Advocacy - August update

Policy updates

Strengthening Australia’s Modern Slavery Act

The Albanese Government has announced proposed reforms to strengthen Australia’s modern slavery laws, including a new offence for large companies that fail to prevent modern slavery in their supply chains, alongside civil penalties for non-compliance with existing obligations. RIAA has continued to support stronger modern slavery laws and due diligence requirements aligned with international standards. Read the Government’s media release and RIAA’s LinkedIn update here.

New Zealand climate reporting and capital markets reforms

Aotearoa New Zealand policy developments continue to focus on climate reporting, capital markets and the broader climate framework. The XRB is consulting on a draft climate reporting roadmap that proposes a pathway toward NZ IFRS S2, with a focus on international alignment, harmonisation with Australia and local relevance. The New Zealand Government has also introduced the Climate Change Response Amendment Bill and MBIE is consulting on phase two capital markets reforms. Read the XRB consultation, the Ministry for the Environment update and MBIE’s capital markets reforms.

Policy publications

• XRB has published research and guidance to support climate reporting entities, including draft staff guidance on identifying climate-related risks and opportunities and quantifying anticipated financial impacts. See the XRB research and anticipated financial impacts resources.
• AASB has released educational material on disclosing information about an entity’s climate-related transition, including transition plans, under AASB S2. Read the material here.
• CA ANZ has published guidance on substantiating climate-related disclosures and why documentation matters. Read the article here.
• DCCEEW has announced a pilot to help First Nations communities participate in Australia’s clean energy transition, including through equity and revenue-sharing models under the Capacity Investment Scheme. Read more here.
• Indigenous Business Australia and Waikato-Tainui have signed a cross-Tasman investment partnership to help direct capital into large-scale projects developed with Traditional Owners. Read the IBA media release and ABC article.
• The Australian Law Reform Commission has released Fulfilling the Promise of Mabo, its final report on reforming the future acts regime in the Native Title Act 1993. The report makes 86 recommendations to support a fairer and more efficient regime for native title holders, governments and proponents. Read the report here.
• He Pou a Rangi Climate Change Commission has released its 2026 Progress report: National Adaptation Plan, providing an independent assessment of implementation and effectiveness of Aotearoa New Zealand’s first national adaptation plan. The report finds that adaptation action is not keeping pace with escalating climate risks, with persistent gaps in funding, governance, planning and climate-risk information. It identifies six foundational areas requiring urgent action and will inform development of the next national adaptation plan, due in 2028. Read the report here.

Recent submissions

NZ Centre for Sustainable Finance: Toitū Tahua – Aotearoa New Zealand Sustainable Finance Taxonomy – Energy Sector

All RIAA submissions can be located on our website here.

Open consultations

• AU – DCCEEW – 2026-27 Safeguard Mechanism Review. Closes 18 September.
• NZ – MBIE – Capital Markets Reforms. Closes 25 August.
• NZ – XRB – Draft climate reporting roadmap. Closes 30 September.
• AU – ASX – Draft 5th edition of the Corporate Governance Principles and Recommendations. Closes 14 September.