Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information
On 1 March, 2024, AFIA responded to Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information.
AFIA notes the significance of incorporating climate-related financial disclosures into reporting standards and acknowledges the potential regulatory and operational challenges these standards may introduce, especially for smaller entities. AFIA advocates for a tiered reporting structure to allow for a gradual adaptation process, stressing the importance of flexibility and proportionality in the application of these new standards.