Improving the efficiency of climate-related financial disclosures
Submission Date: 2 October 2026
The Corporations Committee of the Business Law Section of the Law Council of Australia (the Committee) welcomes the opportunity to make this submission to the Australian Treasury (Treasury) in response to the consultation paper on mandatory climate-related financial disclosures (Consultation Paper).
The Committee acknowledges and supports the policy objectives underpinning the introduction of mandatory climate-related financial disclosures in Australia, including the promotion of transparency, informed capital allocation, and consistency with Australia’s international commitments. The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (Cth) represented a significant step towards aligning Australia’s corporate disclosure framework with international best practice, including the standards promulgated by the International Sustainability Standards Board.
Notwithstanding this support, the Committee has identified a number of areas in which the current framework, as implemented through the Corporations Act 2001 (Cth) and the Australian Sustainability Reporting Standards issued by the Australian Accounting Standards Board, gives rise to significant legal, practical, and policy concerns. These concerns, if not addressed, risk undermining the integrity of the disclosure framework and imposing disproportionate burdens on reporting entities and their directors.
Last Updated on 08/10/2026
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