The standard itself, AASB S2, has one effective date. It applies to annual reporting periods beginning on or after 1 January 2025. But the Corporations Act, as amended by the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act…
Australia issued two sustainability reporting standards together in September 2024. AASB S2 Climate-related Disclosures is mandatory for entities captured by the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024. AASB S1 General Requirements for Disclosure of Sustainability-related…
Building a defensible physical climate risk disclosure under IFRS S2 is a methodology problem, not a number problem. The headline metric, Paragraph 29(c), asks how much of the business is vulnerable to climate hazards. Auditors and assurance providers do not…
Australia’s mandatory climate-disclosure standard, AASB S2, is the AU adoption of IFRS S2. The standard-setter, the Australian Accounting Standards Board (AASB), tells us itself, in its own Basis for Conclusions BC14 (the paragraph where the AASB enumerates where it changed…
IFRS S2 Paragraph 22 is the climate resilience disclosure requirement. It is one sentence. The Basis for Conclusions (the standard’s official commentary) clarifies what that sentence actually demands: companies must disclose their interpretation of what the scenario analysis means for…
TL;DR For 8 specific industries IFRS S2 routes via Para 32 (Real Estate, Mortgage Finance, Water Utilities, Hotels, Insurance, Health Care, Managed Care, Forestry), the Industry-based Guidance carries an XX-XX-450a Climate Change Adaptation topic code that hands preparers the threshold,…
TL;DR Five of six deeply-read first-wave IFRS S2 reporters do not disclose a Para 29(c) amount; only Rio Tinto goes meaningfully beyond narrative, with annualised damage thresholds. Where Para 29(c) is quantified, no two reporters use the same unit: sector…
Paragraph 29(c) of IFRS S2 requires entities to disclose the amount and percentage of assets or business activities vulnerable to climate-related physical risks. The sentence is one line. The standard does not define what “amount” means, what denominator the percentage…
Fluvial flooding, also called river or riverine flooding, is the oldest and best-understood flood category. It dominates regulatory flood maps and produces the largest single-event losses on record. Yet many risk teams still confuse it with surface water or coastal…
Pluvial flooding causes billions of dollars in damage each year, yet it remains poorly understood compared to river floods. The term describes surface water flooding that happens when rainfall arrives faster than local drainage can handle it, and it affects…
