Government confirms no barriers to carbon risk disclosure for Australian companies

8 March 2018

The Investor Group on Climate Change (IGCC) notes the release of the Australian Government response to the Senate Economics Reference Committee report: Carbon risk: a burning issue.

In its response to the Inquiry’s final report, the Federal Government has confirmed that there are no legislative barriers to the full adoption of the recommendations of the Financial Stability Board Task Force on Climate-related Financial Disclosures (TCFD) in corporate reporting.

“While disappointed that the response did not go further, the Government has confirmed that under the current corporate disclosure regime there are is now nothing stopping companies from fully adopting the TCFD framework and reporting their climate risks to the market” IGCC CEO Emma Herd said.