ISA welcomes the Government’s commitment to standardise climate disclosures by large businesses and financial institutions. These reforms will help industry super funds to identify and consider climate and sustainability-related risks in the entities in which they invest, and to manage both the transition and physical risks of climate change.
ISA supports the proposed definition of materiality in the reporting requirements, the one-year phase-in for reporting scope three emissions, and the ability to report previous financial year information in the current reporting period. However, ISA is concerned the proposals lack sufficient detail for industry super funds to be able to understand with clarity their reporting requirements as disclosing entities under the regime.
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.