The mandatory climate change financial reporting regime, introduced by this Bill, commenced on 1 January 2025 with the first group of reporting entities required to report for financial years beginning on or after 1 January 2025.
The first group comprises large entities and their controlled entities which meet at least 2 of the following 3 criteria: consolidated revenue of $500m or more, EOFY consolidated gross assets of $1b or more and EOFY employees of 500 or more.
ASIC’s proposed regulatory guide for entities required to report is currently in the consultation process.