ASIC finds Australian companies not adequately disclosing climate change risks

ASIC finds Australian companies not adequately disclosing climate change risks
20/09/2018 IGCC Secretariat

The Investor Group on Climate Change (IGCC) welcomes a new report released today by ASIC on the state of corporate reporting on climate change, and calls on Australian companies to lift their game to meet investor needs.

Report 593 Climate risk disclosure by Australia’s listed companies (REP 593) sets out ASIC’s high-level findings and recommendations for listed companies following an ASIC review of disclosure practices in the market.

“Financial regulators are clearly telling corporate Australia that they must report on climate change risk with the same level of rigour as any other financial risk. This report finds that currently they are not”, said Emma Herd, CEO of the Investor Group on Climate Change.

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