PROPOSED MANDATORY DISCLOSURE FRAMEWORK:
* Many Australian corporations already voluntarily report climate-related dangers
* One algorithm ought to give disclosures extra credibility for customers and traders
* Making it obligatory elevates local weather dangers to the identical degree as monetary reporting underneath the Corporations Act
* The proposed framework covers large emitters already required to make disclosures of greenhouse gases
* Changes might be phased in, beginning with bigger organisations that meet two of the three thresholds
* But smaller corporations are inspired to make voluntary reviews in the event that they discover a climate-related materials threat
* Obligations underneath the Corporations Act on disclosure of fabric monetary dangers proceed to use
STAGGERED ROLLOUT OVER THREE YEARS:
Group one (from 2024/25) –
* Over 500 workers
* Assets of $1 billion
* Annual income of $500 million
Group two (from 2026/27) –
* Over 250 workers
* Assets of $500 million
*Annual income of $200 million
Group three (from 2027/28)
* Over 100 workers
* Assets of $25 million
* Annual income of $50 million.
Source: Treasury
Source: www.perthnow.com.au
