MATERIALITY SOFTWARE

Australian Sustainability Reporting Standards

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ASRS Readiness Assessment

The purpose of the ASRS Readiness Assessment is to provide Australian companies with a quick and simple way to understand the climate-related disclosure requirements of the ASRS and determine their reporting preparedness.

Our 10-minute survey captures the majority of ASRS requirements. The questions are scored and weighted to provide respondents with a 'Readiness Score.'

Take the ASRS Readiness Assessment

Australian Sustainability Reporting Standards (ASRS)

What is ASRS?

In January 2024, the Australian Government released an exposure draft to introduce mandatory requirements for organizations to disclose their Climate-Related Financial Disclosures, requiring the rapid implementation of climate reporting aligned with international standards ISSB and IFRS S1 and S2.

Timeline & Finalization

Currently, feedback on the draft ASRS is under review and the final standards are to be released. The first disclosures will begin for the first wave of companies for FY24/25 reporting.

What do companies have to disclose?

Companies will be required to disclose a report including quantitative metrics and targets and qualitative data from a materiality assessment, scenario analysis, and transition planning.
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Who is required to disclose?

Companies must meet at least two out of three size criteria to be included.
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Group 1: >500 employees, >$1B consolidated gross assets, or >$500M consolidated revenue
Group 2:  >250 employees, >$500M consolidated gross assets, or >$200M consolidated revenue
Group 3: >100 employees, >$25M consolidated gross assets, or >$50M consolidated revenue

When do companies have to disclose?

Group 1: 2024-25 onwards
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Group 2: 2026-27 onwards
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Group 3: 2027-28 onwards

Regardless of the initial disclosure year, each company will follow the same sequential reporting and assurance requirements.

Watch On-Demand: Virtual Launch of the ASRS Readiness Assessment

Watch sustainability experts Ilona Marchetta and Dr. Tim Siegenbeek van Heukelom in Socialsuite's virtual launch of the ASRS Readiness Assessment. It provides Australian companies with a quick and simple way to understand the climate-related financial disclosure requirements of the ASRS and determine their reporting preparedness.

Watch Now

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