NELA Submission – Climate-related financial disclosure: Exposure draft legislation

NELA proudly provides its submission to the Treasury into the climate-related financial disclosure: explosure draft legislation released by Australia’s Commonwealth Government.

NELA sees this Exposure draft legislation on climate-related financial dislcosure critical towards establishing a transparent and internationally aligned framework for financial corporate reporting on climate risks and opportunities in Australia.

This submission, however, critically examines the open questions left by the broad interpretations within the Exposure Draft’s affecting its intended applicability to mandate sustainability reporting. Therefore, recommendation to clarify scope of this draft legislation is encouraged. In turn will improve guidance for applied uses of sustainability reporting in both public and private sectors, particularly in support of Australia’s existing and adjusted greenhouse gas emission reduction targets under the Climate Change Act 2022 (Cth).

This submission was drafted by the NELA climate change working group on behalf of NELA Board.

For more information, full submission found here.