When Will Scope 3 Emissions Be Mandatory in Sustainability Reports?
Updated Jan. 15, 2024
Updated Jan. 15, 2024
The proposed Treasury Laws Amendment Bill 2024 framework is designed for Australian companies to provide people and investors with greater information about climate-related financial risks and opportunities as well as publish climate-related plans and strategies in sustainability reports. These disclosures will be mandated through amendments to the Corporations Act 2001 and related legislation.
According to the draft legislation, companies with annual revenue or if part of a group, consolidated annual revenue of $1 million or more, and which meets sustainability reporting thresholds in the chart above must prepare a sustainability report that includes scope 1, 2 and 3 emissions.
The sustainability reports will need to include:
For more details the proposed legislation documents can be found here:
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