Sustainability reporting: ASIC launches training for small businesses

“We recognise many smaller companies may be concerned about what the sustainability reporting requirements mean for them. ASIC is committed to helping industry build the capability required to meet these important obligations.”

ASIC Commissioner Kate O’Rourke

ASIC has partnered with the Australian Accounting Standards Board (AASB) to release a set of educational materials aimed at providing training on sustainability reporting.

These training modules will help your smaller company understand and apply the foundational concepts underpinning Australia's new sustainability reporting requirements.

What modules are available through ASIC?

If you’re new to mandatory sustainability reporting, the requirements can seem daunting. The goal of ASIC’s training is to give you, or your report preparer, a good foundational understanding of the basics of reporting and meeting your ESG compliance requirements.

Here’s what the modules include:

• Module 1 sets out how stakeholders should engage with the materials and introduces the basics of the new sustainability reporting requirements in the Corporations Act.

• Module 2 covers the basics of climate change.

• Module 3 covers climate-related physical risks and how they may affect an entity.

• Module 4 focuses on explaining climate-related transition risks and how they may affect an entity.

• Module 5 introduces climate-related opportunities and shows how they may apply to an entity through practical examples.

• Module 6 introduces emissions accounting and provides foundational knowledge on Scope 1, 2 and 3 greenhouse gas emissions.

• Module 7 focuses on the process of climate-related scenario analysis.

• Module 8 provides an overview of how entities might integrate climate risks and opportunities into governance and risk-management processes.

  
  

Supporting your sustainability reporting requirements

You can find out more about the available training modules on ASIC’s sustainability reporting website. If you’re unsure about the sustainability reporting rules for your business, please come and have a chat with our team – we can run you through the compliance requirements.