ASRS Readiness: How prepared is your business for Australia’s climate-related financial disclosures?
Climate-related financial disclosures are becoming mandatory in Australia. The Australian Sustainability Reporting Standards (ASRS) will require companies, in a phased-approach from 1 January 2025, to prepare and disclose climate-related financial information.
Increasingly companies approach us at Socialsuite for help with determining how well they are prepared to meet the ASRS requirements. That’s why we have developed, in collaboration with Ilona Marchetta, the ASRS Readiness Assessment.
On 24 April 2024 we hosted a virtual launch of the ASRS Readiness Assessment. This short, survey-based assessment tool provides you with an ASRS Readiness Score as well as a Report with recommendations on how to prepare your organisation for the upcoming Australian mandatory climate-related financial disclosures.
The ASRS Readiness Assessment is a free tool in which you complete a short survey (~10 minutes) with 40 climate-related and organisational questions.
What are the Australian Sustainability Reporting Standards (ASRS)?
The ASRS is built upon the work of the ISSB (using IFRS S1 and S2 as a foundation), but using modifications for Australian matters and requirements where necessary to meet the needs of Australian stakeholders. As a reminder, the ISSB has continued the work of the hugely successful Task Force on Climate-related Financial Disclosures (TCFD). That’s why IFRS S2 fully incorporates all 11 TCFD recommendations but introduces incremental disclosures which are more granular, and prescriptive quantitative requirements.
If your company is TCFD reporting, you are well on your way to complying with the ASRS requirements. Yet, there is still work to be done. Complete the ASRS Readiness Assessment to learn what else you should do to get ready.
Watch the virtual launch of the ASRS Readiness Assessment
In our virtual launch webinar, our Chief Impact Officer, Dr. Tim Siegenbeek van Heukelom joined forces with sustainability expert Ilona Marchetta to unpack the content of the ASRS Readiness Assessment. Watch the recording of the webinar now to get a step-by-step run through of the key sections and questions – so you can efficiently complete the assessment for your business.
Do you have ASRS or sustainability-related questions? Book a short and obligation free meeting with our team to help you work out where you are on your sustainability journey – and if we can help.
