Nature Repair Act 2023 (Cth), Act No. 121 of 2023

Australia has adopted ISSB-aligned sustainability standards. AASB S2 (climate) is mandatory for entities within Chapter 2M of the Corporations Act and is phased in across three groups from 2025 to 2027. AASB S1 (general sustainability) is voluntary. ASIC administers the regime and has published guidance in RG 280.

Enforcement

AASB S1: voluntary. AASB S2: mandatory under Corporations Act 2001 for in-scope entities.

Effective date

Financial years beginning on or after 1 January 2025 (Group 1), 1 July 2026 (Group 2) and 1 July 2027 (Group 3). AASB S2025-1 amendments apply to annual periods beginning on or after 1 January 2027, with early application permitted.

Covered entities

Entities that must prepare annual financial reports under Chapter 2M of the Corporations Act and meet a s292A threshold. Group 1: at least two of consolidated revenue of AUD 500m or more, consolidated gross assets of AUD 1bn or more, and 500 or more employees; or NGER registered corporations in groups that meet the s13(1)(a) NGER threshold. Group 2: at least two of revenue of AUD 200m or more, assets of AUD 500m or more, and 250 or more employees; all other NGER registered corporations; and registered schemes, RSEs and retail CCIVs with assets of AUD 5bn or more. Group 3: at least two of revenue of AUD 50m or more, assets of AUD 25m or more, and 100 or more employees.

Australia's mandatory national reporting framework for greenhouse gas emissions and energy production/consumption by large emitters. Underpins Australia's National Greenhouse Accounts and UNFCCC reporting.

Enforcement

Mandatory

Effective date

In effect since 2008. Annual reports due 31 October each year.

Covered entities

Corporations whose group meets a corporate group threshold (50,000 t CO2-e scope 1 and 2 emissions, or 200 TJ of energy produced or consumed) or that control a facility meeting a facility threshold (25,000 t CO2-e, or 100 TJ produced or consumed). The CER lists 890 registered controlling corporations for 2024-25.

INFO 271 sets out nine questions issuers should ask before making sustainability claims, covering labelling, terminology, investment screens and ongoing monitoring. ASIC enforces against breaches under the existing prohibitions on misleading or deceptive conduct in the Corporations Act and ASIC Act.

Enforcement

Guidance (interpreting binding misleading-conduct rules in the Corporations Act 2001 and ASIC Act 2001)

Effective date

June 2022

Covered entities

Responsible entities of managed funds, corporate directors of CCIVs, and trustees of registrable superannuation entities offering or promoting sustainability-related products; principles also relevant to other issuers

The guide sets out eight principles for trustworthy environmental claims, including accuracy, evidence, life-cycle thinking, fair comparisons, plain language and transparency about transition plans. Breaches are pursued under the Australian Consumer Law's prohibitions on misleading and deceptive conduct.

Enforcement

Guidance (interpreting the binding Australian Consumer Law)

Effective date

12 December 2023

Covered entities

All businesses making environmental or sustainability claims about goods and services to Australian consumers

Reporting entities must submit an annual modern slavery statement covering seven mandatory criteria (structure, operations, supply chains, risks, actions, effectiveness, and consultation), approved by the principal governing body and signed by a responsible member, within six months of financial year end. Statements are published on the Modern Slavery Statements Register administered by Home Affairs (now Attorney-General's Department).

Enforcement

Mandatory

Effective date

1 January 2019

Covered entities

Entities based or operating in Australia with consolidated annual revenue of at least AUD 100 million, plus the Commonwealth of Australia and Commonwealth corporate entities meeting the threshold. Other entities may report voluntarily.

Australia's federal product stewardship framework sits under the Recycling and Waste Reduction Act 2020. The National Television and Computer Recycling Scheme and the Australian Packaging Covenant are co-regulatory, used oil and mercury-added products have mandatory arrangements, and other products rely on accredited voluntary schemes. Container deposit schemes are run by the states and territories. Packaging reform and a national solar panel recycling pilot are in progress, but no new mandatory scheme has been made.

Enforcement

Mandatory for NTCRS and container deposit schemes; voluntary or co-regulatory for other product streams

Effective date

Product Stewardship Act 2011 commenced 8 August 2011 and was succeeded by the Recycling and Waste Reduction Act 2020 (No. 119, 2020), latest compilation 1 July 2026. NTCRS has operated since 2011. The first state container deposit scheme (SA) dates from 1977. Tasmania's scheme started 1 May 2025.

Covered entities

Liable parties (importers and manufacturers) of televisions, computers, printers and peripherals under NTCRS; brand owners under the co-regulatory packaging arrangement (Australian Packaging Covenant); parties covered by the mandatory mercury-added products rules; beverage suppliers under state and territory container deposit schemes. Government-accredited voluntary arrangements cover tyres, mobile phones, large plastic bags, plastic paint pails, power tools and newspapers.