Commonwealth Climate Disclosure is the Government's policy for Commonwealth entities and Commonwealth companies to publicly report on their exposure to climate risks and opportunities, as well as their actions to manage them. Under this policy, Commonwealth entities and Commonwealth companies must disclose climate-related information in their annual reports.
The Commonwealth Climate Disclosure requirements are still under development but will align with international climate disclosure standards. International standards require reporting of specific information, including:
- physical and transition climate risks and opportunities relevant to the entity's operations
- arrangements the entity has in place to manage these risks and opportunities
- progress the entity is making towards its climate targets and in reducing its risk profile.
This policy enables Commonwealth entities and Commonwealth companies to be more prepared for, and responsive to, the changing climate. It also supports the delivery of Australia's emissions reduction targets under the Paris Agreement and the Government's APS Net Zero by 2030 target.
Commonwealth Climate Disclosure serves to provide greater transparency, accountability and credibility in the way climate risks are managed across the Commonwealth public sector. This policy is in line with the Government’s commitment to mandate climate-related financial disclosures for Australia’s large businesses and financial institutions.
