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As the regulatory landscape continues to evolve, it's crucial for small businesses in Australia to stay updated on new compliance requirements. One significant area is sustainability reporting due to the Australian government's introduction of mandatory sustainability reporting requirements. While these regulations may not directly apply to small businesses, understanding their implications is essential for maintaining strong commercial relationships and ensuring future compliance.

The purpose of this Alert is to draw attention to Regulatory Guide RG 280 Sustainability reporting (RG 280 or regulatory guide), published by the Australian Securities and Investment Commission (ASIC) on 31 March 2025.

In today’s world, sustainability is a business imperative. Mid-sized businesses have a unique opportunity to make a significant impact on the environment while also reaping substantial benefits. Here are some actionable strategies to help reduce your carbon footprint and enhance your business’s sustainability.

The following Australian Standards on Sustainability Assurance (ASSA) and the Relevant Ethical Requirements were approved by the Auditing and Assurance Standards Board (AUASB) on 28 January 2025.

The purpose of this Alert is to draw attention to the recent decisions of the International Sustainability Standards Board (ISSB) on 29 January 2025 to propose amendments to IFRS S2 Climate-related Disclosures.

The Auditing and Assurance Standards Board (AUASB) board meeting on 16 December 2024 confirmed the final phasing for mandatory assurance of information in sustainability reports. A final draft standard incorporating these changes will be presented to the AUASB for approval in late January 2025.

On 7 November 2024, ASIC released draft regulatory guidance for sustainability reporting.

The purpose of this Alert is to draw attention to the Consultation Paper CP 380 Sustainability reporting (consultation paper) and accompanying draft regulatory guide RG 000 Sustainability reporting (draft regulatory guidance) published by the Australian Securities and Investment Commission (ASIC) on 7 November 2024.

On 22 August 2024, the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (the Bill) passed the Senate with amendments. From there, it will return to the House of Representatives to approve the amendments, which is expected to go ahead.

Following recent decisions made at the Australian Accounting Standards Board (AASB) meetings, we now have a very clear sense of what the final Australian Sustainability Reporting Standards (ASRS) will look like.

Businesses are increasingly recognising the importance of sustainable practices to safeguard our planet for future generations. However, as the demand for sustainable products and services grow, so does the prevalence of greenwashing – a deceptive practice where businesses falsely claim to be environmentally friendly.

There exists a wide array of advantages that businesses can realise in integrating important Environmental, Social and Governance principles. These include reducing costs, improving operational efficiency, enhancing reputation, increased accountability, and attracting talent.