ASIC publishes guidance on mandatory climate reporting

Date: 14 April 2025
Source: Australian Securities & Investments Commission (ASIC) 

Abstract:

On 31 March 2025, the Australian Securities and Investments Commission (ASIC) published Regulatory Guide 280 Sustainability reporting (RG 280), providing detailed guidance to support the implementation of Australia’s new climate-related financial disclosure regime. Developed following extensive consultation, RG 280 aims to help entities meet their obligations under Chapter 2M of the Corporations Act 2001 (Cth) to prepare sustainability reports containing climate-related financial information. ASIC has also released specific guidance on sustainability reporting for small businesses.

ASIC Regulatory Guide 280

RG 280 outlines who must prepare a sustainability report, what content is required, how to disclose climate-related information outside the report (such as in product disclosure statements), and how ASIC will administer and enforce these requirements. It also covers the use of ASIC’s new powers to grant relief and issue directions to ensure compliance. The sustainability reporting obligations apply to entities that are required to prepare annual financial reports under Chapter 2M and that meet one of the reporting thresholds under section 292A for a financial year. These entities may include companies, registered schemes, registrable superannuation entities, and retail corporate collective investment…