The Edge Round-Up

August brought significant sustainability developments across Australia, New Zealand, and beyond.

Our latest Round-Up covers key updates, including:

• The passing of Australia's mandatory climate reporting bill
• New ACSI Report on Climate Disclosure Practices across ASX200
• Insights into the Nature Positive Investing Movement
• APCO 2030 Strategic Plan has been Released

Plus, we share practical services and resources to help organisations prepare effectively for these changes and more.

A note from Alison Rowe

Edge Impact's Global CEO

Last week, the mandatory climate reporting bill was passed by the Australian Senate, with completion of the legislation process now due in September. 

Having passed this final hurdle in legislation, clarity on timelines and requirements have solidified. 

As big as the change and the work that comes from this announcement will be, this is also a momentous moment for the transition to net zero. 

This legislation will enable financial stakeholders and markets to be more fully informed of climate-related risks and opportunities and will ultimately support investment in creating a low carbon economy.

Edge Impact is here and ready to support you and your company in making your own contribution in this transition. 

Described by ASIC Chair, Joe Longo, as the ‘biggest change to financial reporting in a generation’, we’re now seeing those who have been proactive already reaping the rewards, and those who have yet to start experiencing increased compliance costs and heightened risk.

So, where will your organisation be in the greatest change of a generation? 

Kind Regards, 

Alison Rowe  

📰News

Sustainability Disclosure Policy Updates – August 

Climate Reporting has passed in the senate

What does this mean for you? 

• For Group 1 entities, reporting periods commencing on or after 1 January 2025 will be required to include detailed disclosures about your climate-related risks and opportunities in line with the Australian Sustainability Standard Board (ASSB) S2. Group 2 and 3 entities will be phased in from 1 July 2026 and 2027. 

• Disclosures must be made annually in a sustainability report, as part of your annual reporting suite. They must also be issued on the same date as your financial reporting. 

• Your first year of disclosures will also have assurance requirements, limited assurance is required for your scope 1 and 2 emissions in the first year. Pending exact phasing, this will grow to eventually be reasonable assurance over the full disclosure. 

• Directors will be required to state whether, in their opinion, the company’s sustainability report complies with the legislation. 

What should you do to prepare? 

• Have a conversation at the board and executive management level about your level of preparedness. Consider whether you need a briefing session or specialist training to bring this group up to speed. 

• Undertake a readiness assessment so you can clearly see the work ahead. The insights from the readiness assessment can inform a climate disclosure roadmap. 

• Ensure you have the right partners to support you, this may include specialist climate consultancy, as well as engaging with your financial audit and legal counsel partners. 

Our resources on climate disclosure can be found here: Mandatory climate-related disclosures.

For any questions, please get in touch with Mark Siebentritt, our Global Climate Practice Lead today. 

✉️ mark.siebentritt@edgeimpact.global

📞 +6141 860 3015

Slow Government Action on Modern Slavery is Impacting New Zealand Businesses

New Zealand’s Accredited Employer Work Visa (AEWV) scheme has exposed serious risks related to human trafficking and modern slavery.  

While the government’s response has been slow and inadequate, this doesn’t absolve companies of their responsibility to respect human rights.

Here’s what businesses need to consider:   

• Spotting the Risks: if your supply chain involves labour from AEWV-accredited employers, it’s time to dig deeper. Are you confident your partners are upholding ethical standards? 

• Tighten your supplier oversight: use a risk-based framework and go beyond basic compliance. Leverage rights-based technology platforms like Direct Worker Voice, including tools like MillionMakers, to enhance your human rights due diligence. 

• Lead by example: position your company as a leader in ethical procurement. Collaborate with other businesses, government bodies, and NGOs to advocate for stronger protections. 

With government action unlikely to come soon, businesses must take proactive steps to ensure their supply chains are ethical and resilient.

In a context ripe for adverse outcomes, doing more isn’t just the right thing to do—it’s essential for protecting your brand and reputation.

Unsure where to start?  

Reach out to Nick Dexter , our Principal Consultant for Human Rights today.  

✉️ Nick.dexter@edgeimpact.global 

📞+61481223266

The Nature Positive Investing Movement 

"How farms and buyers respond will determine who gets to access capital and sells into international markets." - AFR 

Anyone in food & agriculture should be taking steps now to understand your interface with nature. If we get this right, from the land up, “You can make yourself more competitive by doing the right thing by nature,” leading to market access, talent attraction, cheaper capital and insurance.  

This is a win-win, via supply chain transparency, resilience to a changing climate, and healthier, better products. 

Read the full article here. 

Want to learn more?  

We support companies in understanding the upcoming Nature Repair Market and what opportunities might exist in the Nature Positive Plan.  

Contact Sarah Day , our Principal Consultant for Nature today: 

✉️ sarah.day@edgeimpact.global 

📞 +61 423 937 065 

APCO 2030 Strategic Plan

The Australian Packaging Covenant Organisation (APCO) 2030 Strategic Plan was unveiled on 19 August 2024. This plan will provide economic incentives for material circularity, establish mechanisms to achieve national packaging targets, and enhance the social license for brands using packaging.

For the first time, a new fee model will create financial incentives for packaging design and direct the targeted expenditure of Covenant funds within the system.

Learn more here. 

Edge is a professional APCO member with experience supporting organisations in meeting their obligations and transforming their procurement and supply chain processes.

We can help you improve packaging standards and simultaneously streamline the internal reporting process for years to come.    

Get in touch with Justin Bonsey , our Circular Economy Principal Consultant.  

✉️ justin.bonsey@edgeimpact.global 

📞 +61451837466 

AICD guide for setting climate targets 

The Australian Institute of Company Directors has published a practical resource to support directors through the process of climate target setting 

The 10 guiding principles for target setting have been created to help Australian boards establish climate targets and manage associated risks. With mandatory climate reporting on the horizon, Australian organisations must be ready to disclose key details of their climate targets.  

This resource provides foundational principles to support boards in setting climate targets and includes illustrative examples. 

Download the guide here. 

New ACSI Report on Climate Disclosure Practices across ASX200 

Investors are getting clearer sight of how Australian listed companies factor climate change into their operations, with a growing number of ASX200 companies integrating climate change considerations into their financial statements and pricing carbon to test business resilience. 

The findings come in ACSI’s annual research, Promises, Pathways and Performance: Climate Change Disclosure in the ASX200.  

Click the links here to view the report and supporting documents. 

📢Edge News 

National PHD Scholarships Announced 

Nick Dexter , our Principal Consultant for Human Rights has been awarded an Industry Linked PhD scholarship through the National Industry PhD Program.

Nick's research will focus on developing an accountability framework that leverages worker voice data within the property and construction sector.

Congratulations, Nick!

📅Upcoming Events:

• The Art of Climate Change, 3rd September 2024, Sydney

Edge Impact and Greenhouse’s Sold out event: The Art of Climate Change - will explore the intersection of art, communications, and climate activism. 

The evening will feature an engaging panel discussion followed by the debut of a compelling exhibition showcasing 50 pieces of artwork created by talented students from Western Sydney University’s Design and Indigenous studies programs. 

Missed out on ticket?

Don't worry, future opportunities to view the exhibition will be available soon. 

• The Future of Packaging Webinar, 26th September 2024

As the Australian Government sets to release its highly anticipated mandatory packaging design and stewardship guidelines this year, many industries are preparing for a packaging revolution. 

Edge Impact’s The Future of Packaging Webinar is a must for ensuring your business is ready to adapt and thrive in this new landscape. 

Join Edge Impact's circular economy and packaging experts, the Australian Covenant Packaging Organisation (APCO) CEO Chris Foley , and a panel of industry leaders as they discuss How to adapt and thrive under new regulation. 

Official webinar link to be released soon. 

📞 Connect with Us

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