Australian Sustainability Reporting Standard AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information

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Laws and Policies

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CCLW national policies

Date issued

This Standard is a voluntary Standard.  Entities may elect to apply this Standard, which would require an entity to disclose information about all sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s cash flows, its access to finance or cost of capital over the short, medium or long term.
The AASB has also issued a separate, mandatory Standard on climate-related financial disclosures, AASB S2 Climate-related Disclosures. AASB S2 incorporates selected content from this Standard that the AASB considers necessary to make AASB S2 function as the standalone Standard for all climate-related financial disclosures. That content is included in Appendix D to AASB S2. Entities required by the Corporations Act 2001 to comply with AASB S2 are not required to comply with this Standard, but may refer to it for guidance. They may also elect to apply this Standard in preparing their sustainability report.
This Standard is issued as a voluntary Standard consistent with Australian Government policy, which is to mandate only climate-related disclosures at this time. Mandatory disclosure requirements for other sustainability-related topics may be developed in the future, which might result in either revisions to or replacement of this Standard, potentially including removing its voluntary status and making it a mandatory pronouncement.

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

This sector creates and distributes information and entertainment through television, radio, print, and digital platforms.

Social and cultural groups that share collective ancestral ties to the lands and natural resources where they live, occupy or from which they have been displaced

People with different national or cultural traditions from the dominant population

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

This sector includes firms and individuals offering specialised expertise in fields such as law, accounting, consulting, science and engineering.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

Australian Sustainability Reporting Standard AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information

Policy instrument

Impacted group

Greenhouse gas

Economic sector

Adaptation/resilience

Finance