Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information

Monday, October 23, 2023

The AASB has released Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information to propose climate-related financial disclosure requirements. ED SR1 is open for comment until Friday, 1 March 2024.

ED SR1 includes three draft Australian Sustainability Reporting Standards (ASRS Standards):

1. [draft] ASRS 1 General Requirements for Disclosure of Climate-related Financial Information, developed using IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information as the baseline but with a scope limitation to climate-related financial disclosure;
2. [draft] ASRS 2 Climate-related Financial Disclosures, developed using IFRS S2 Climate-related Disclosures as the baseline; and
3. [draft] ASRS 101 References in Australian Sustainability Reporting Standards, developed as a service standard that would be updated periodically to list the relevant versions of any non-legislative documents published in Australia and foreign documents that are referenced in ASRS Standards.

How to get involved

The AASB invites stakeholders to provide feedback on ED SR1 by:

• submitting a comment letter on the AASB website;
• completing an online survey – click here to access; or
• attending a roundtable discussion – details to be provided shortly.