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These included launching the Sustainable Finance Taxonomy, new enforcement against greenwashing, and a number of amendments to both AASB S2 and the Auditing and Assurance Standards Board’s (AUASB) new sustainability assurance standards.
Internationally, nature & biodiversity risks also continued to grow in prominence, resulting in the International Sustainability Standards Board’s (ISSB) stated intention to release a new nature-related standard by October 2026. As this year draws to a close, we reflect on the timeline of key reforms and consultations we have seen over the months.
In the coming year, we are expecting to see the first round of Group 1 reports being released from February to April 2026. Many of these reports will be for private unlisted entities.
ASIC is expected to release observations on the first round of reports in May to June 2026, ahead of the second round of Group 1 reports from August to October. The AASB & AUASB are both also expected to continue supporting implementation with further educational materials.
We will continue bring you the latest new developments in sustainability reporting and assurance through our insights and webinars.
Article contributed to by Lily Fox – Senior Manager, Sustainable Finance
What Australia’s Carbon Leakage Review means for trade, imports and business costs
Australian Securities and Investments Commission (ASIC) and the Auditing and Assurance Standards Board (AUASB) have both recently published FAQs providing guidance on the use of the different auditors for financial reporting audit and sustainability reporting assurance.
During the week of 15 September 2025, the Australian Government released multiple reports that are highly relevant for entities preparing for mandatory climate-related disclosures under the Corporations Act 2001 and AASB S2
The purpose of this Alert is to draw attention to the National Climate Risk Assessment report (or NCRA), delivered by the Australian Climate Service on 15 September 2025.
The purpose of this Alert is to draw attention to the Prime Minister’s announcement of Australia’s new 2035 greenhouse gas emissions reduction target and path to net zero by 2050. The new target was announced on 18 September 2025. The new target follows the independent advice of the Climate Change Authority and is supported by the release of a comprehensive Net Zero Plan, along with 6 sectoral decarbonisation plans.
