Rebekah Cheney’s Post

🚨 Be well prepared, Cohort 1 & 2: Mandatory Climate Reporting is Coming Your Way – and It’s Time to Turn Compliance into Commercial Value! 🌍💼 Today at the Australian Institute of Company Directors Climate Governance Forum, the conversation kicked off with a crucial topic: mandatory climate reporting. With the ASRS bill passed last night, it’s clear that the time for action is now. For those who are staying ahead of the curve, here’s a quick summary of the timelines and thresholds that will soon become central to your corporate strategy: 📅 ASRS Timeline and Reporting Thresholds FY25 (Jan 2025): Entities with consolidated revenue of ≥ $500 million, consolidated gross assets of ≥ $1 billion, or ≥ 500 employees must begin reporting. FY26: The threshold lowers to entities with consolidated revenue of ≥ $200 million, consolidated gross assets of ≥ $500 million, or ≥ 250 employees. FY27: Finally, entities with consolidated revenue of ≥ $50 million, consolidated gross assets of ≥ $25 million, or ≥ 100 employees will be required to report. These thresholds apply to entities under Chapter 2M of the Corporations Act and controlling corporations under the NGER Act. Key Reporting Requirements include Governance, Strategy, Risk Management, and Metrics & Targets. Companies will need to disclose climate-related risks, opportunities, and their impact on strategy and financial performance, as well as GHG across Scopes 1, 2, and 3. Leveraging these requirements to generate COMMERCIAL VALUE. For those already aligned with TCFD, the transition should be straightforward. The takeaway from pioneers in voluntary climate-related financial disclosures? Every single action taken to meet these targets has delivered tangible business benefits. I’m fully prepared for this transition and ready to help your organisation navigate it. Whether you need clarity on reduction targets or strategic insights on how to create commercial value for your investors and stakeholders, let’s connect and start the conversation. #corporatefinance #ClimateGovernance #CorporateStrategy #ASRS #ESG #CommercialValue #Leadership

No more waiting or putting your head in the sand. Mandatory climate reporting is coming, how ready are you? Fortunately there's people like me and the team at Sustainability Coaching Centre here to help you get started.

One. step. closer. Today, Board and executive leaders from across Australia are gathered at the Australian Institute of Company Directors Climate Governance forum; just in time for a hot off the press annoucmeent that the Senate passed the Mandatory Climate Reporting Bill yesterday. We really are one step closure to a signficant evolution in financial reporting. If you're wondering when to sart preparing for the changes - I say now. At Civic Futures Lab we've been working with a range of entities to assess their readiness against the draft standards and develop a roadmap for future reporting requirements and disclosures; including data, risk and opportunity mapping. #mandatoryclimatedisclosures #climaterisk #sustainabilityreporting #accounting #financialreporting #accountingstandards

Important news: mandatory climate reporting passed Senate last night to begin 1 Jan ‘25 starting with large entities then rolling through to next sizes of business. It’s an opportunity to be clear on your climate-related financially material impacts on and of your business, your emissions scopes 1, 2 and 3 and details what you are doing about them. Clear and accurate info is vital for people making decisions about your business outside and inside your business,critical to market integrity. If you’re in a later reporting groups or businesses in someone’s supply chain (their Scope 3) the message is start now. The Growth Activists is here to support you. Good quick summary from AICD below. Rosanna Iacono Phil Brown Lee Tonitto Erin Parry Adrian Gidaro Paul Graham-Dumbrell Leigh Neilson Raagini Gopi Rob Shwetz #esgstrategy #mandatoryclimatereporting #materialityanalysis #stakeholderengagement

I’m right now attending the Climate Governanxe Forum held by AICD at ICC. Interesting discussions and insights from Executives and Board members across different industries. Key takeaways are the following: 1- ASIC is looking to support companies therefore there will be 2 parties of guidance: Day 1 and consultation process, allowing firms to transition smoothly to reporting requirements. 2-Organisations should understand their landscape and assumptions and provide feasible grounds for what they will disclosure to the market, including verification process, uncertainties and any third party dependency. This will help in managing legal risks better. 3- Some of the questions executives should be comfortable in answering themselves to support reasonable grounds for disclosures: * Are your ESG targets aligned with business strategies? * Is the capital you need available to you? * If not, what is the expectation to having access to the funds? * What is the dependence on technology or others? * Are the others moving in same direction? * What extend are you relying on government policies? 4- Forward looking statements shouldn’t be forward dreaming ones, therefore estimates and measures the carbon emissions, set targets and dates. Assess physical climate risk for assets and focus on creating actions to achieve those targets. 5 - Consider the TCFD framework as guidance to disclose climate related risks and opportunities. Opportunities are for long term sustainability! Please get in touch if you require any help navigating these challenges. https://lnkd.in/gVbz94U7

📣 Australia's mandatory climate disclosure regime was passed by Parliament yesterday, in a major step towards establishing a clearer view of how companies are managing climate-related risks and opportunities. 📆 From 1 Jan 2025, Australia's largest companies will be required to disclose their emissions, as well as exposure to physical and transitional climate-related risks and opportunities. 🌏 The new rules will position Australia among the first countries globally to implement climate reporting in line with new #ISSB standards. This forms the first part of the government's #sustainablefinanceroadmap to mobilise capital to finance the transition to net zero, with more to come from ASFI by the end of the year on Australia's sustainable finance taxonomy and from the Treasury in 2025 on corporate transition plans and a sustainable investment labeling regime. #ClimateReporting #Mandatory #Transparency #Australia

AICD Climate Governace Forum perfectly timed for the passing of the Bill. Judy Slatyer in the last #CGF24 session put it so well. Board and executives need to be thinking about systemic impacts of a rapidly changing climate. We have the skills and tools available already. Incorproate climate and nature into existing tools and use the state of the changing future as a tool and lens for making decisions today. The session was focused on the Board’s Role in Nature and Biodiversity. While not yet mandatory, the strong message has been that it makes good business sense to consider nature positive strategy now and be ready to incorporate these topics, along with climate related issues into core business decisions.

Climate reporting - next step, bring #modernslavery reporting and #climatereporting together into human rights and environmental due diligence legislation.

Wondering about the SEC rule? Read our new brief for the latest on climate disclosure developments from the SEC, California, and EU - and what it could mean for real estate.

With the recent U.S. Securities and Exchange Commission rule and California climate disclosure laws, mandatory climate disclosures are here to stay. Get the recent details on climate risks and GHG emissions disclosures with USGBC's latest brief. #USGBCAdvocacy #DecarbonizationwithUSGBC https://bit.ly/4ab0SJq