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Mandatory climate disclosures for Australia's construction industry
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Oceania
Mandatory climate disclosures for Australia's construction industry
06 November 2024
Starting January 1, 2025, large Australian companies, including construction firms, must disclose climate impacts under new laws aimed at improving transparency and managing climate-related financial risks, with full compliance required by 2028 and limited immunity for certain statements during the initial three years.
Editorial Team
Starting January 1, 2025, large Australian companies must disclose their climate impacts under the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024. This includes publicly listed and large private companies with emissions reporting obligations.
The law aims to enhance market information on climate-related financial risks, improving transparency for investors. A phased introduction will affect large construction firms by 2028, requiring sustainability reports that cover climate statements, risks, governance and emissions.
Limited immunity for protected statements exists for three years, after which misleading disclosures may incur legal liabilities. Companies must prepare for compliance.
