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In a pivotal move, the U.S. Securities and Exchange Commission has revised its climate disclosure rule, scaling back on the requirement for companies to report Scope 3 emissions—those indirect emissions stemming from supply chains and product usage. While this may initially seem like a step back in the quest for transparency and accountability in corporate environmental impact, the change sparks a broader conversation about the evolving landscape of sustainability reporting. What does this mean for businesses? Even with the SEC's softened stance, the global trend is unmistakable: there is a mounting demand from investors, consumers, and regulatory bodies worldwide for detailed insights into companies' environmental footprints, including Scope 3 emissions. Regions like Europe and California are leading the charge, requiring comprehensive reporting that keeps the pressure on for global companies to maintain rigorous environmental disclosures. For companies looking forward, embracing the full spectrum of emissions reporting can serve as a differentiator in the market, showcasing a commitment to sustainability that aligns with the expectations of a new generation of stakeholders. The journey towards comprehensive climate disclosure is complex but navigating it successfully positions companies as leaders in the sustainable business landscape. #Sustainability #ClimateChange #CorporateResponsibility #ESG #Scope3 #innovation

🙌 We’re over 100 registrations for this webinar hosted by Climate Zero and Rewild Agency. Last chance to register, especially if this sounds like you 👇 ➡️ You’re a finance manager or are responsible for ESG / sustainability ➡️ Your business supplies any of Australia’s largest companies* ➡️ You’re not 100% on how Mandatory Climate Reporting could affect your business when it begins in Australia on 1 January * Companies will be in Group 1 for Mandatory Climate Reporting starting from 1 Jan if they meet 2 of the 3 criteria ($500M+ revenue, $1B+ gross assets and 500+ employees). And these companies will need to gather emissions data from their suppliers under the incoming climate reporting. ✅ Register here and join us online to feel more informed and prepared: https://lnkd.in/gfYyw9pt Hope to see you there. #webinar #climatereporting #asrs #lunchandlearn

Australia is making strides toward a sustainable future with the recent passage of key legislation in the Senate. The Net Zero Economy Authority Bill was passed yesterday, marking a pivotal moment in the nation’s commitment to achieving net zero emissions by 2050. Prime Minister Anthony Albanese emphasised that the new authority will be instrumental in supporting workers, industries, and communities through the clean energy transition. In a parallel move, the Senate has also approved comprehensive long awaited mandatory climate reporting legislation, set to take effect on 1 January 2025. This legislation mandates that large businesses and financial institutions disclose their climate-related risks, strategies, and governance practices, as well as specific climate metrics, that include Scope 1, 2, and 3 greenhouse gas emissions. The goal is to enhance transparency and align Australia with global best practices, such as the Task Force on Climate-related Financial Disclosures (TCFD) framework. Key aspects of the climate reporting bill are largely unchanged, and include: • Risk Disclosure: Companies will need to identify and report on both physical and transitional climate risks that could impact their operations and financial performance. • Strategy and Governance: Businesses must outline their strategies for managing these risks and detail the governance structures overseeing climate-related issues. • Emission Reporting: The legislation will likely require organizations to disclose their greenhouse gas emissions, providing a clearer picture of their environmental impact. While some specifics, particularly around the scope and phased implementation, are still being finalised, this legislation represents a major shift towards increased corporate accountability and climate responsibility. For businesses, this is both a challenge and an opportunity to lead in the global transition to a net zero economy. The legislation not only demands compliance but also encourages innovation in reducing carbon footprints and fostering sustainable growth. As these new regulations come into force, it’s essential for all stakeholders - businesses, workers, and communities - to stay informed and proactive in adapting to this evolving landscape. To learn more, read the RSM 'How prepared is corporate Australia for mandatory climate reporting?' guide: https://bit.ly/3WVEJKq

🌍 Companies Disclosing Climate Transition Plans Up Nearly 50%: CDP Report 📊 📈 44% Increase: 1 in 4 companies now have 1.5°C-aligned climate transition plans. Staying within 1.5°C remains a key business goal. 📝 Disclosure Growth: Over 5,906 companies (1 in 4) reported having climate transition plans last year through CDP, the world’s only independent environmental disclosure system. An additional 36% (8,200 companies) plan to create one by 2025. 🔍 Credibility Indicators: 39% of companies disclose data on most key indicators. CDP’s questionnaire, used by companies representing over 66% of market capitalization, includes 21 indicators covering governance, emissions reporting, strategy, target-setting, financial planning, and value chain engagement. Read more: https://lnkd.in/diTnat4R #ClimateAction #Sustainability #NetZero #CDP #ClimateChange #TransitionFramework

🌍 New Corporate Climate Disclosure Rules! 🌍 The SEC has introduced new rules requiring public companies to disclose their greenhouse gas emissions and climate-related risks. These regulations aim to provide transparency to investors and push companies toward sustainability. However, some argue that these disclosures are costly and could hurt smaller businesses. Are these new rules a necessary step toward sustainability, or are they an overreach that stifles business growth? #ClimateDisclosure #CorporateResponsibility #Sustainability #LegalDebate https://lnkd.in/dxUdya-c

Our lunch & learn webinar on Mandatory Climate Reporting is on tomorrow Nov 20 @ 12pm. Last chance to register, especially if this sounds like you! 👇 ➡️ You’re a finance manager or are responsible for ESG / sustainability ➡️ Your business supplies any of Australia’s largest companies* ➡️ You’re not 100% on how Mandatory Climate Reporting could affect your business when it begins in Australia on 1 January * Companies will be in Group 1 for Mandatory Climate Reporting starting from 1 Jan if they meet 2 of the 3 criteria ($500M+ revenue, $1B+ gross assets and 500+ employees). And these companies will need to gather emissions data from their suppliers under the incoming climate reporting. ✅ Register here and join us online to feel more informed and prepared: https://lnkd.in/gfYyw9pt Hope to see you there! #webinar #climatereporting #asrs #lunchandlearn

The Biden administration has just announced a groundbreaking policy to enhance the integrity and transparency of the carbon offset market. This initiative is a significant step towards ensuring the credibility of carbon credits and addressing the current market disorder. ⚖️ John Kerry, U.S. Special Presidential Envoy for Climate, emphasized, “We need a robust and credible carbon offset market to meet our climate goals. This policy is a crucial step towards ensuring that carbon credits genuinely represent emissions reductions.” This policy is setting a new standard for carbon offset trading. Enhanced transparency and government action is the future of sustainability. 🌿 #ClimateAction #CarbonOffsets #Sustainability #EnvironmentalPolicy https://lnkd.in/giysmneZ

Whilst the passage of legislation can appear dry on the surface, it's important to mark a milestone in Australia's net zero journey: the Australian Parliament passed landmark legislation yesterday which establishes a Net Zero Economy Authority and mandatory climate-related financial disclosures. Well done Carbon Market Institute (CMI) colleagues, and others, who have supported the development and improve the climate disclosure framework. https://lnkd.in/gHAN9EY4 #climateaction #climatedisclosure # auspol

As climate disclosure requirements become clearer, there is growing attention on issues such as director liabilities. The article below offers a good overview of the key issues. It's crucial to note that these requirements will be phased in over several years, with the specific timeline varying based on the company's size. Importantly, Directors must understand both what needs to be reported as well as when to ensure compliance. #climatedisclosure #climateaction https://lnkd.in/gC9mvisU

📢 The SEC recently finalized new regulations regarding climate risk disclosure filings. Curious about what these changes mean for businesses? Here's a brief overview: 📋 More companies are now mandated to prepare for comprehensive climate-related disclosures. 🔍 The objective is to enhance transparency for investors, providing insight into companies' greenhouse gas emissions impacts and climate risks. Reach out to our sustainability consulting experts for clear guidance on navigating the updated SEC climate risk disclosure requirements: https://ow.ly/5H9Q30sAJ8F #ClimateRisk #TCFD #Sustainability