ASRS enters a new phase: Group 1 reports and Group 2 joins the framework

Australia's mandatory climate disclosure regime has moved from a future compliance standard to a current reporting requirement.

The aim of ASRS is straightforward: to provide investors and lenders the information they need to understand how climate could affect a company's prospects, helping them make informed investment decisions.

Since the legislation passed in September 2024, Australia's largest entities and financial institutions (Group 1 entities) have prepared and published their first Sustainability Reports under the new standards. Group 2 entities are next, their first financial year under the microscope began on 1 July 2026, meaning businesses that report on a July to June cycle are already inside their first ASRS reporting period.

Hopefully that doesn't come as a surprise but if it does, we’re here to help. Group 3 entities follow from 1 July 2027.

This all leaves a lot of businesses asking the same questions:

• Do the thresholds catch us?
• What exactly do we need to disclose?
• How much time do we actually have left to prepare?

To help answer these burning questions and more, our climate specialists have updated our ASRS factsheet.

Want to learn more?

For more information on ASRS and how we are here to support, catch up via our recent free webinars.

• Webinar - ASRS: Where to start for Mandatory Climate Disclosures in 2025
• Webinar - ASRS: An Introduction to Climate Scenario Analysis