From 1 January 2025, many Australian businesses must report each year on climate risks and opportunities. These new laws follow the Australian Sustainability Reporting Standards (ASRS). The goal is clear: make climate reporting transparent and consistent.
The rules will roll out over three years. This phased approach helps businesses manage the financial impact of climate change and stay competitive as global expectations grow.
Yes. The Labor government’s re-election locked mandatory climate disclosures into law. With bipartisan support for a low-carbon economy, these rules are permanent—and may expand.
Globally, the trend is the same. The UK, EU, Singapore, New Zealand, Japan, and China already have similar frameworks. Australia’s alignment with ISSB, TCFD, and GRI keeps our businesses competitive worldwide.
Reporting starts in three phases:
| Group | Start Date | Revenue | Assets | Employees |
|---|---|---|---|---|
| 1 | 1 Jan 2025 | ≥ $500M | ≥ $1B | ≥ 500 |
| 2 | 1 Jul 2026 | ≥ $200M | ≥ $500M | ≥ 250 |
| 3 | 1 Jul 2027 | ≥ $50M | ≥ $25M | ≥ 100 |
Entities must meet two of three thresholds. Both listed and unlisted companies that prepare annual reports under the Corporations Act are included.
Under ASRS S1 and S2, businesses must report on:
Even if you’re not in the first wave, the change will come fast. By 2026–2027, most medium and large businesses must comply.
This means:
Early preparation improves access to capital, compliance, and stakeholder trust.
At Boyce, we know climate reporting is more than compliance—it’s a strategic opportunity.
Our Sustainability team offers:
We help you turn compliance into advantage.
Ready to start your climate reporting journey?
Contact the Boyce Sustainability team today.
