Small businesses will be exempt from Australia’s new mandatory climate risk accounting rules, but may still be asked to turn over meter readings, utility bills, and other energy usage figures to their bigger business partners, draft documents show.
To increase visibility of the climate crisis and harmonise Australian standards with international markets, the federal government plans to legislate new climate risk disclosure standards, making it mandatory for major businesses to detail the greenhouse gas emissions caused by their operations.
The Australian Accounting Standards Board (AASB), the organisation tasked with developing the rulebook for those impending climate risk disclosures, released an 103-page exposure draft for consultation on Monday.
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