A comprehensive guide to navigating Australia’s new mandatory climate-related financial disclosure requirements. Designed around the AASB S1 and S2 sustainability and climate standards, the program equips participants with the knowledge to assess, measure, and report on sustainability and climate-related risks and opportunities.

Risk Assessment, Measurement and Reporting.

The sustainability and climate-related reporting landscape has significantly shifted in recent years creating newer obligations for organisations in their annual reporting and disclosures. The Australian government has approved legislation requiring affected entities to include compulsory climate-related financial disclosures in their annual reports effective 1 January 2025.[1] As a result, there is an urgent need to develop expertise to comply with these requirements. More specifically, with the introduction of the Australian Accounting Standards Boards’ S1 General Requirements for Disclosure of Sustainability-related Financial Information and S2 Climate-related Disclosures sustainability standards, reporters are under increasing pressure to (1) respond internally and (2) act upon the mandatory reporting and disclosure mandates. In doing so, reporters need to reflect and then report on the impact of their climate-related and sustainability risks and opportunities on their financial performance, both contemporaneously and into the future.

The masterclass has been specifically developed to align with the four key reporting pillars of both AASB S1 and S2 sustainability and climate standards as follows:

1. Governance: the governance processes, controls and procedures that the reporter employs to monitor and manage its sustainability/climate-related risks and opportunities;
2. Strategy: the overall approach the reporter uses to manage sustainability/climate-related risks and opportunities;
3. Risk management: the detailed processes the reporter uses to identify, assess, prioritise and monitor its sustainability/climate-related risks and opportunities; and
4. Metrics and targets: the reporter’s performance in relation to sustainability/climate-related risks and opportunities, including progress towards targets the reporter has set or is required to meet.

[1] Australia supports the adoption of the International Sustainability Standards Board’s IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information andIFRS S2 Climate-related Disclosures.

By completing this masterclass, you will:

• Gain a detailed understanding of how to measure, monitor, and report Scope 1, 2, and 3 carbon inventory emission levels.
• Recognise the key challenges related to Scope 3 emissions and develop effective solutions, especially in your relationships with suppliers (upstream) and customers (downstream).
• Develop and implement suitable carbon reporting methodologies, make informed decisions about establishing boundaries, setting materiality levels, allocating emissions, and identifying primary and secondary data requirements.
• Formulate practical and measurable targets for Scope 1, 2, and 3 emissions, and credibly report your performance to relevant stakeholders using best practice frameworks.
• Become proficient in accounting for GHG emissions in compliance with international carbon accounting frameworks, regulations, and related best practices.
• Strengthen your understanding of regulations and standards in Australia (a leading expert in this area) and internationally.
• Meet the requirements of the regulatory sustainability framework’s reporting and disclosure obligations.

Not for this masterclass.