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https://theconversation.com/businesses-and-directors-could-face-multi-million-dollar-penalties-if-they-fail-to-disclose-their-climate-impact-229889>
"Large businesses will have to publicly disclose detailed information about
what they are doing to reduce carbon emissions and other climate-related
financial information under legislation before federal parliament.
Under the new legislation companies will have to include a separate
sustainability report in their annual report.
And, as with the financial component of the annual report, the sustainability
document will be formally adopted by the company’s board.
The UN Climate Change Conference in Glasgow in 2021 (known as COP26) identified
mandatory climate-related financial disclosure as necessary for combating
climate change.
Disclosure makes a company’s climate-related risks, opportunities, metrics and
targets transparent to its investors and other stakeholders.
The planned laws do not change what companies are required to do in response to
climate change, but they allow regulators and stakeholders to monitor the
company’s progress towards internationally agreed net-zero targets.
For that reason, the disclosures companies produce are likely to be closely
scrutinised."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
