The Australian Sustainability Reporting Standards Australian Sustainability Reporting Standards (ASRS) classify entities into three groups (Group 1, Group 2, Group 3) to phase in mandatory climate reporting from 1 Jan 2025 to 1 July 2027.
Does this apply to me? Assume yes unless your review of the categories below shows otherwise. If you meet two or more thresholds, you belong in that Group.
What Group am I in? Group
Yes
No
Group 1 (Largest Entities): Covers entities with 500+ employees >$1 billion in consolidated gross assets >$500 million in consolidated revenue Group 2 (Mid-sized Entities): Covers entities with 250+ employees >$500 million in assets >$200 million in revenue Group 3 (Smaller Entities)* Covers entities with 100+ employees >$25 million in assets >$50 million in revenue *These may be exempt if they lack material climate risks. We recommend you make that determination only after having completed a high-level materiality review with an appropriately qualified consultant.
When will I need to report? The timing of your initial reporting based on Group, aligned with your normal financial year reporting cycle, is: Group 1: On or after 1 Jan 2025 (FY25-26)
Group 2: On or after 1 July 2026 (FY26-27)
Group 3: On or after 1 July 2027 (FY27-28).