The Australian Securities & Investments Commission (ASIC) has published guidance for entities required to prepare a sustainability report under the Corporations Act. The guidance highlights that the objective of sustainability reporting is to improve the quality, consistency, and comparability of climate-related financial disclosures of reporting entities. It is intended to support confident and informed decision making by investors and other users of the reporting.
The guide includes details on ASIC’s planned proportionate and pragmatic approach to supervision and enforcement, as sustainability reporting requirements are being phased in. ASIC will engage directly where a statement in the sustainability report is incorrect, incomplete, or misleading. ASIC notes it is more likely to commence an enforcement investigation where there is misconduct of a serious or reckless nature, or where a reporting entity fails to prepare a sustainability report.
About the Publisher
The Australian Securities & Investment Commission (ASIC) is Australia's integrated corporate, markets, financial services and consumer credit regulator. ASIC is an independent Australian Government body. It was established under the Australian Securities and Investments Commission Act 2001 (ASIC Act), and carries out most of its work under the Corporations Act.
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