Policy & Advocacy – October update

Policy updates

Across both Australia and Aotearoa New Zealand there has been significant progress on modern slavery law reform.

In Australia, the Attorney-General consulted on Strengthening Australia’s legislative response to modern slavery in supply chains. RIAA submission strongly supported the Government moving beyond a framework focused primarily on reporting and disclosure and recommended that a mandatory, risk-based human rights due diligence framework be established as a priority and the central measure in Australia’s modern slavery reforms. Read our full submission here.

In Aotearoa New Zealand, the Education and Workforce Committee has released its Final Report on the Modern Slavery Bill following public consultation and recommended that the Bill be passed. While the Bill’s core reporting framework would remain broadly unchanged, the Committee has recommended amendments to improve the regime’s workability and provide greater clarity about how it would operate in practice. Many of these recommendations respond to issues raised during the Select Committee process, including through RIAA’s submission. Read the Select Committee report and RIAA’s submission to the consultation.

NZ XRB – Draft Climate Reporting Roadmap

RIAA has responded to the Aotearoa New Zealand XRB's consultation on a draft climate reporting. RIAA broadly supports the proposed strategic direction of greater international alignment through a New Zealand climate reporting standard based on IFRS S2, provided this is implemented in a way that preserves the quality, comparability and decision-usefulness of climate disclosures for investors.

RIAA’s submission was informed by engagement with members of the Aotearoa Collaborative Working Group and a direct feedback forum convened by RIAA with members and the XRB. This engagement provided members with an opportunity to share their perspectives directly with the XRB and helped shape RIAA’s response to the consultation. Read our submission here.

Recent Australian climate policy consultations

Two significant Australian climate policy consultations have recently closed: the 2026–27 Safeguard Mechanism Review and Treasury’s consultation on improving the efficiency of climate-related financial disclosures. RIAA engaged with industry through peer organisations, collaboration and knowledge-sharing activities. We were satisfied that industry perspectives were well-represented through formal submissions by other associations and, noting other competing priorities, did not make separate RIAA submissions to these consultations. RIAA will continue to monitor these important policy areas and contribute as necessary.

Policy publications

• AU Treasury has published the Climate-related Transition planning guidance. It provides guidance to help organisations identify, assess and respond to climate-related risks and opportunities in support of transition planning for a net zero economy. See the guide here.
• DCCEEW announces four National Environmental Standards as reforms to Australia’s environmental laws. Read their statement here.
• ASIC released a series of sustainability reporting videos to help companies build capability and understand Australia’s new climate and sustainability reporting requirements. Access the videos here.
• ASIC published a report reviewing 2025 sustainability reports. ASIC highlights improvements in first wave of mandatory sustainability reporting while also identifying areas for improvement. Read the report here.
• Parliamentary Commissioner for the Environment | Te Kaitiaki Taiao a Te Whare released a report examining future of NZ Emissions Trading Scheme (ETS). The report argues that the ETS is unlikely to achieve climate goals and requires major reform. Read the report here.
• APRA and ASIC published a media release that urges finance sector to move beyond awareness of AI risk and collaborate to strengthen resilience against cyber threats. Read more here.
• NSW Anti-Slavery Commissioner highlights labour hire licensing as a singular part in broader solutions against modern slavery. Read more here.
• DCCEEW updated the Environmental-Economic Accounts (EEA) Dashboard. This centralises environmental and economic data to help users gain stronger insight. Read more here.
• FMA has extended its ‘no action’ relief for affected climate reporting entities. This provides regulatory certainty and avoids unnecessary compliance costs amidst the unresolved climate reporting policy during the election. Read more here.

Recent submissions

NZ XRB – Draft Climate Reporting Roadmap

AU Attorney-General's Department – Strengthening Australia's legislative response to modern slavery in supply chains

MBIE – Capital Markets Reforms – Phase Two

All RIAA submissions can be located on our website here

Open consultations

• AU – DCCEEW - Environment Protection Reform Consultation: Shaping the Next Phase of Environmental Reforms. Closes 13 October.
• AU – Treasury - Establishing External Reporting Australia’s standard-setting boards. Closes 15 October.
• AU – Treasury - Enhanced data collection for managed investment schemes. Closes 23 October.
• NZ – CSF - NZ Taxonomy Construction and Buildings sector draft. Closes 30 October.
• EU – EFRAG – ESRS 40a Public Consultation Questionnaire. Closes 31 October
• AU – APRA - Strengthening superannuation investment governance consultation paper. Closes 3 February 2027.