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Council of Financial Regulators Climate Change Activity Stocktake 2021

Australia Forthcoming 2021

Australia’s Council of Financial Regulators has indicated that one of its priorities for 2022 will be to “identify and strengthen the building blocks that will be needed to facilitate high-quality and comparable climate-related disclosures, including high-quality data and consistent scenarios.

Issuer name

Council of Financial Regulators

More information

Further surveillance work is planned by ASIC on climate-change related disclosures and governance practices by Australia's large listed companies, focussing on the Task Force on Climate-Related Financial Disclosure (TCFD) reporting framework. ASIC will continue work on ‘greenwashing’, examining the extent of potential harms to financial consumers in Australia from greenwashing practices, and determining what interventions (if any) are necessary in light of those harms. CFR agencies will also consider how international developments in standards for climate-related disclosures, including moves to mandate disclosures in some jurisdictions, may affect Australia.

Organizations covered by the instrument

Large private and listed companies

Industry scope

All/none specified

Status

Forthcoming

Country

Australia

Region

Asia Pacific

Date of publication

2021

Issuer type

Financial Market Regulators

Reporting requirements

Guidelines and standards for non-financial reporting

Mandatory or voluntary

Voluntary

The geographical scope

National/federal

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