AASB S2
Mandatory Climate Reporting
We offer a range of services to support businesses in understanding and addressing environmental impacts.
AASB S2 is Australia’s new climate reporting standard
From 2025, large companies will need to include climate-related information in their annual financial reports.
This will allow investors, lenders and creditors to understand the potential impacts climate change may have on the business’ revenue and expenses, debt, and future planning.
AASB S2 asks companies to do four key things
Understand how climate change may affect their business
Act on the risks and opportunities they identify
Explain their approach clearly in an annual report
Ensure what is reported is accurate and put into practice
Do you need to report?
Reporting begins in phases depending on your organisation’s size, and is required if you meet two of the three qualifying criteria.
Group 1
Reporting starts
Group 1
FY26
If you meet 2 of 3 criteria:
Revenue of $500m+
Gross Assets of $1bn+
Employees of 500+
Group 2
Reporting starts
Group 1
FY27
If you meet 2 of 3 criteria:
Revenue of $200m+
Gross Assets of $500m+
Employees of 250+
Group 3
Reporting starts
Group 1
FY28
If you meet 2 of 3 criteria:
Revenue of $50m+
Gross Assets of $25m+
Employees of 100+
