Australia’s financial regulator, ASIC, has released its new Regulatory Guide 280 (RG 280), outlining what is expected of Australian companies and businesses to comply with the country’s recent mandatory climate reporting law.  

Enacted last September, the mandate requires public and large proprietary companies and significant asset owners to disclose climate-related risks, opportunities, and greenhouse gas emissions.  

Who is Affected and Implementation Timeline  

The new reporting requirements are being phased in over time according to the size of the business: 

Additions to the Final Regulatory Guide (RG 280)  

Taking into account stakeholder feedback, the final guide includes:  

Enforcement Approach and Implications  

Choosing to adopt a “proportionate and pragmatic” approach in the initial stages of the new law enforcement, ASIC intends to prioritize direct engagement and opportunities for correction before enforcing penalties.  

Hence, companies and businesses can expect leniency in the early stages, with investigations and penalties only implemented for serious or reckless misconduct and failure to produce the required sustainability reports.   

According to the ASIC Commissioner Kate O’Rourke, the new disclosure rules will make high-quality climate-related financial information available, boosting confidence among investors and other users and aiding them in informed decision-making.   

Preparing for Compliance: Is Your Organization Ready? 

The introduction of Regulatory Guide 280 marks a pivotal moment in Australia's approach to climate-related financial disclosure. With a phased implementation timeline and an initial emphasis on engagement over enforcement, organizations are being given both clarity and opportunity to align their reporting practices with the new regulatory expectations. 

As the 2025 mandate approaches, is your organization taking the necessary steps to ensure compliance and demonstrate climate accountability to investors and stakeholders? Now is the time to assess readiness, strengthen internal capabilities, and position your business for long-term resilience.