New Climate Reporting Laws Passed: Businesses Face New Disclosure Requirements

Mandatory climate reporting laws sailed through the Australian Senate on Aug. 22 with the Labor government obtaining support from the Greens and independents. The law will enforce climate reporting for large companies from January 2025 and extend to more companies over time. Treasurer Jim Chalmers said the regime would improve investment in “cleaner, cheaper energy” in the move towards net zero. “We’re taking action on climate reporting to support more investment in cheaper and cleaner energy and help companies and investors manage climate risks,” he said. “These critical reforms provide investors and companies the clarity and certainty they need to support the net-zero transformation, and further strengthen Australia’s reputation as an attractive destination for international capital.”...