EDSR1 Submission Letters to AASB

The AASB's Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information which proposes climate-related financial disclosure requirements closed for comment on Friday, 1 March 2024.

Stakeholders strongly encouraged greater alignment with the International Sustainability Standards Board’s IFRS S1 & IFRS S2 baseline. Our Climate Disclosures Consultation Update explains the key changes following the consultation, including the areas where the AASB has taken a back to baseline approach.

ED SR1 includes three draft Australian Sustainability Reporting Standards (ASRS Standards):

1. [draft] ASRS 1 General Requirements for Disclosure of Climate-related Financial Information, developed using IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information as the baseline but with a scope limitation to climate-related financial disclosure;
2. [draft] ASRS 2 Climate-related Financial Disclosures, developed using IFRS S2 Climate-related Disclosures as the baseline; and
3. [draft] ASRS 101 References in Australian Sustainability Reporting Standards, developed as a service standard that would be updated periodically to list the relevant versions of any non-legislative documents published in Australia and foreign documents that are referenced in ASRS Standards.

Stakeholders were invited to provide feedback on ED SR1 by submitting a comment letter, completing an online survey or attending a roundtable discussion. The comment letters are published below.