ob体育鈥檚 administration of the sustainability reporting requirements
ob体育鈥檚 role in administering the requirements
As Australia鈥檚 corporate, markets and financial services regulator, ob体育 will play a fundamental role in administering, and where appropriate, enforcing, the sustainability reporting requirements.
We are acutely cognisant of the increasing materiality of both the physical risks and transitional risks and opportunities presented by climate change and the need for reliable information to support decision making on climate change adaptation and mitigation in our capital markets.
Our approach to administering the sustainability reporting requirements will be guided by the underlying policy objective of fostering high-quality, consistent and comparable climate-related financial disclosures. This will support the fair and efficient operation of our capital markets and facilitate confident and informed decision making by investors and other users of that information.
ob体育鈥檚 approach to administering the sustainability reporting requirements in the early years
ob体育 recognises that there will be a period of transition as industry continues to build capability, as reflected in the phasing of sustainability reporting requirements and the temporary operation of the modified liability settings.
Accordingly, ob体育 will take a pragmatic and proportionate approach to supervision and enforcement as industry adjusts to the new requirements. For further information, see Section E of ob体育 Regulatory Guide 280 Sustainability reporting (RG 280).
Our forward work-plan
ob体育 will consider and decide any applications for relief received from reporting entities seeking relief from one or more of the sustainability reporting requirements. For further information, please refer to the relief from sustainability reporting requirements section of the website.
We have released RG 280. We may update this guidance or provide other regulatory updates after we have observed how sustainability reporting and other sustainability-related disclosure practices develop in the Australian and international markets. In time, we may also update other regulatory guides impacted by the sustainability reporting requirements.
From 2026: ob体育 will undertake its first聽review of sustainability reports lodged with ob体育. This will involve examining the disclosures made by reporting entities in the first year of sustainability reporting. The program will be broadly modelled on our approach to reviewing financial reports lodged with ob体育.
ob体育 will publicly report on the findings of this review, to drive continued improvement in reporting standards. We may use our compulsory information-gathering powers to require an entity to provide us with documents and/or information to assist in our review.
For more information, see our Information Sheet 145 ob体育鈥檚 compulsory information-gathering powers (INFO 145).
From 2026: In administering the sustainability reporting requirements, ob体育 has a聽directions power. If we consider that a statement made by an entity in a sustainability report is incorrect, incomplete or misleading, we may direct the entity to:
- confirm that the statement is correct or complete
- explain the statement
- provide information or documents that substantiate or support the statement
- correct, complete or amend the statement, and/or
- publish the corrected, completed or amended statement, or give the statement to specified persons, in accordance with the direction.